Deividas696
Power Member
- Joined
- Dec 6, 2017
- Messages
- 525
- Reaction score
- 162
This year I set a goal to become financially independent by the age of 32. I am 27 right now so I still have 5 years to achieve my goal. I know that financial independence can be really different for everyone and it depends on so many factors, especially in which country you live.
That's why I'm curious how much money would you need to achieve this goal in your country.
In my case, I'm living in an Eastern Europe country where the average salary is about 1100 Euros. But I'm living in the capital where you need more money to pay all your taxes, buy food and pay for your free time activities so I calculate that I need 1500euros/month.
By saying to become financially independent I mean to make that amount of money from the investments which will pay all your monthly expenses. Off course there any many ways how can you invest your money and the return rates can be very different. But different return rates also mean different risks. I calculate by taking quite low-risk investments by investing in real estate and renting it. In my country, you can expect about a 6% return rate after all taxes.
So in my case, I need 300k to achieve 1500Euros/month by investing with 6%.
What about you, how much would you need to become financially independent in your country and what kind of investments would you choose to achieve it?
That's why I'm curious how much money would you need to achieve this goal in your country.
In my case, I'm living in an Eastern Europe country where the average salary is about 1100 Euros. But I'm living in the capital where you need more money to pay all your taxes, buy food and pay for your free time activities so I calculate that I need 1500euros/month.
By saying to become financially independent I mean to make that amount of money from the investments which will pay all your monthly expenses. Off course there any many ways how can you invest your money and the return rates can be very different. But different return rates also mean different risks. I calculate by taking quite low-risk investments by investing in real estate and renting it. In my country, you can expect about a 6% return rate after all taxes.
So in my case, I need 300k to achieve 1500Euros/month by investing with 6%.
What about you, how much would you need to become financially independent in your country and what kind of investments would you choose to achieve it?
