4 ms·
just curious, what does your definition of financially free. entail? living off residual income or what?
by martin1975 8y ago
just curious, what does your definition of financially free. entail? living off residual income or what?
- anotheryou 8y agoI guess he means something like this: https://networthify.com/calculator/earlyretirement?income=70000&initialBalance=0&expenses=25200&annualPct=5&withdrawalRate=4 https://networthify.com/calculator/earlyretirement?income=70... Might work if you trust index funds, earn quite well in the first place or (plan to) live in a cheap country and you are willing to do the grind for a few years.
- ronnier 8y agoTwo things: 1) a good bit of cash and 2) passive income from multiple diverse sources that I can live a good lifestyle from that passive income such that I don’t need to work anymore — though I’ll work for a long time because I enjoy it, but I'll do something specifically that I want to do.
- scarface74 8y agoI'm not really that concerned about financial freedom right now. I am concerned with optionality. Meaning I never want to be stuck at a job I hate. For me that means a combination of staying marketable, keeping my network fresh, and being careful about "lifestyle inflation" so I won't have to always strive for the maximum income. It's a big stress reliever knowing that if things go bad, you can always jump ship.
- nexus2045 8y agoProbably of the Mr. Money Moustache flavour, r/financialindependence. Basically say 750k in index funds so that even a 3% return would net you enough to cover your basic expenses, perpetually.