Let's say a certain amount that would bring you peace of mind and financial security to your entire life!
Honestly $5,000/mo fully passive would take me places...
Let's be honest, it's never fully passive.
A common rule of thumb is you can get a 4% real (after inflation) investment return in near perpetuity. Using that rule of thumb a $5k/month income is equivalent to a $1,500,000 windfall.
Or I just create a SaaS that brings in that much, which is more realistic than a $1.5M windfall out of nowhere.
Same, $5,000/month would be already life-changing
Money is a means, not an end. Basing decisions on the latter concept is more likely to lead to unhappiness than success.
1,639,953.00 USD according to my wealth simulator
Nice. What tool are you using as your wealth simulator?
I’m a co-founder of http://www.navegastrategies.com/ where we built a complete macroeconomic based investment research platform to help institutions and financial advisors to solve long-term investment problems. Part of it is a comprehensive wealth simulator integrated with a portfolio optimizer and portfolio risk analytics. So, in short, I use my own wealth simulator ;)
That looks really neat! And totally of the topic, two questions/remarks:
Cool thanks. I let me have a read :)
I would retire if my bank account had $1,000,000+.
$1m us tax free would do the trick. I’d still work but it would get the basics covered. If it seems extravagant remember people live a long time these days.
For anyone who hasn’t had children but is planning to: quadruple it!
There's 3 levels of wealth that matter to me:
No single number.... true answer today would be 1% of 10 year target so short term changing but far from life changing.
Life changing now would just create new goals and challenges.
$1 mio, but even half of that would certainly be life changing :)
4k/month would do the trick of me. Just enough to go around surfing all over the globe and not enough to be too attached to the wealth of more money.
About 10mil would ensure money is not an issue the rest of my life.
If I somehow get 10000 USD(in a short period), it would definitely change my life.
A windfall of $300,000 would change my life in a meaningful way. Less than that probably would not.