Quote:
Originally Posted by slapass
I tried your method. I make very good money. It has gone up 100%'s in the last few years. I do not spend all that I make. I just really thought a person making what I do could be rich and retire young (I am not young now).
The math is still the same. If you make 10k, 100k or 1 mil, you need to get ten times that saved up to make your yearly income from investments. I suppose I can assess what my real needs are then add some for super great times and see if I could do with 5 times my current yearly.
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If you are making 1 million a year and want to live off your investments/interest, then you are thinking about this wrong, It is not costing you 1 million a year to live comfortably. at 10%, that would give you 100k/year to live, so you need to figure out what you can live at comfortably and aim for that, not try to replicate your yearly income with investments.