Author Topic: How much money should I earn before I can retire? (Read 1479 times)

rainmen · « **Reply #1 on:** Aug 23, 2008, 06:48 AM »

first you should have 6x of your monthly living expenses in a savings account for your emergency fund
2nd your net worth must be protected
3rd having 5M with a 10% interest per year will give you 500,000 sufficient enough for your 480,000 yearly living expenses
you can still diversify into other form of passive income.

akshay · « **Reply #2 on:** Aug 23, 2008, 06:59 AM »

Well what kind of no/low risk investment is there that can generate me 10% per year? The fixed deposits are less, and that too not taking inflation into account.

silensyo · « **Reply #3 on:** Aug 23, 2008, 07:14 AM »

I just like to congratulate you on having P5+M in cash and your just below 40 yrs of age. Very few people have this amount in cold cash even after age 65.

Continue your saving habits then look into mutual funds investing and stocks, these are the basic investment tools.

Also consider having your own business. Business is a must if you want to be truly financially free. You can retire anytime if you have a business that you just oversee while you hire somebody to manage it.

rainmen · « **Reply #4 on:** Aug 23, 2008, 08:34 AM »

Quote from: akshay on Aug 23, 2008, 06:59 AM

Well what kind of no/low risk investment is there that can generate me 10% per year? The fixed deposits are less, and that too not taking inflation into account.

there are a lot, real state, in a cooperative.
continue reading other thread here in the forum and you will discover there are a lot of possibilities.

micro27 · « **Reply #5 on:** Aug 23, 2008, 10:19 AM »

keep continue discussing guys... we are learning so many things in your conversations here in PMT...

anneMP · « **Reply #6 on:** Aug 24, 2008, 04:52 PM »

I think I will only "retire" from the usual work when my money is working 24/7 for me... Kaya todo kayod muna hanggang kaya ... besides, I'm stil enjoying what I'm doing