....to have in order to stop working for an income forever?
With my goal of being able to spend $1.2 Million a year and with the expectation that I will become a very old man (100 years old), I would need to have $1.2 Million X (100 -23 years of age) = $92.4 Million in the bank indexed against inflation after taxation.
Problem: Inflation is a floating problem because who knows what kind of inflation rate Sweden (in my case) will have during those 77 years?
If I where to spend only 1/10 of the $1.2 Million I have budgeted for I would only need to have 1/10 of the above budget in the bank.
Still alot of cash to scrap together, but I am certain that a successful company sold of for a good price will take care of that.
What about you guys? How much would you need to stop working for an income and only live of the money accumulated (remember: for the rest of your life)?
With my goal of being able to spend $1.2 Million a year and with the expectation that I will become a very old man (100 years old), I would need to have $1.2 Million X (100 -23 years of age) = $92.4 Million in the bank indexed against inflation after taxation.
Problem: Inflation is a floating problem because who knows what kind of inflation rate Sweden (in my case) will have during those 77 years?
If I where to spend only 1/10 of the $1.2 Million I have budgeted for I would only need to have 1/10 of the above budget in the bank.
Still alot of cash to scrap together, but I am certain that a successful company sold of for a good price will take care of that.
What about you guys? How much would you need to stop working for an income and only live of the money accumulated (remember: for the rest of your life)?
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
