The amount of money would have to genuinely be enough to keep me and my loved ones covered and safe for the rest of our lives.
That would have to account for loans paid off, housing, long-term care, future needs, groceries, cigarettes, etc.
We’re both chronically ill. If Ontario healthcare collapses, we need to be able to pay for ourselves — last year would have been around $125,000 if we stayed in the US, so if we somehow scrape by ‘til 100, that’s at least $10,000,000 before inflation.
Let’s see… if our rent miraculously stayed the same for 75 more years, it’d be $1,575,000.
Let’s say $375,000 as a low dental estimate.
Skimming $200,000 off the top for debts and other things that ought to be taken care of immediately.
Another miracle: let’s call phone and hydro a flat $450,000.
Who knows how much will vanish with tax.
And the grocery situation is very rough here. Might be as high as $800 a month currently. If that somehow held… $720,000.
Cigarettes… $500,000.
We don’t even have a car. But say we scrounged up a single decent used deal every seven years. At least $200,000.
Gas, to say nothing of maintenance, let’s call that $300 / mo… $270,000.
And parking here. Woof. Let’s say $100 / mo. That’s $90,000.
Pet food, $200 / mo. $180,000.
If we’re living luxuriously and can get delivery once or twice a week… $600 / mo. $540,000.
Frustrating subscription services… we’re probably not far from $100 a month by now with increases! $90,000.
So…
to maintain something close to our current life, with no accounting for extras, changes, a better apartment, a house (ha!), mobility devices, etc etc etc…
I’d need roughly $16,000,000 to start considering quitting my job.
That ignores stock horseshit and inflation horseshit, because, well, the two might as well cancel each other out here.
And if we assume a solid 50% tax… we double it to $32,000,000.
All to maintain this quiet life in our tiny apartment for a gravely optimistic 75 more years.