I've picked $3M USD. In my head I've been aiming towards $2M AUD with a house completely paid off - which would give me about $60K a year at 4% interest... which is similar to your 10% minus inflation but a bit more conservative to account for the peaks and troughs of the boom and bust market cycles.
I totally agree with you that the financial freedom would change your mindset around work, I'm glad that you like your job, and I like mine too, but I think I would probably look for a job that pays terribly but has a big societal impact. I think what I'd like to do is something in the climate change resilience arena... help communities prepare for extreme weather events. I don't have any experience but I think I'd find that work valuable in a non-monetary way and hopefully build a legacy I'd be proud to leave behind.
This sounds good, and would likely suit you :)
It is obviously (for some at least) going to have a lot more need in the not too distant future. Most people are avoiding even talking about it.
What I do think would happen given the "no need" scenario, is that I would likely change what I do over time naturally. Probably start where I am and since I could be more risk-taking, gravitate into something more impactful. Not sure what that would be for me, but the last few months I have been thinking about building a local community of sort, where people are able to get help to be their best at something they really want to pursue through reference groups and mentoring from the group. There are so many unhealthy communities online, it would be good to be part of a healthy one in the real world.
The idea of a real mentoring community sounds amazing. You could potentially find experts to speak to the group about various different fields... financial, legal, woodworking, etc.
This is the idea. A community of people who both learn skills, and can share skills and experience.
Btw, this is my first poll like this, did it work okay?
Does it only work on Peakd?
It seems to work okay for me... but I can only see my vote:
Is that what you can see? Or do you see something different?
I'm using PeakD, and I can see that someone else said they picked 2 million, but I can't see that.
Has it changed now? You were the first one to vote, and I think the other person chose 2M based on the writing only. There are more votes.
Ahhhhhh.... you're right, it looks much more comprehensive now.
Pity it is only on Peakd - would be nice to have it platform agnostic.