....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)?
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