Quote:
Originally Posted by Unregistered
Retired senior exec, 48. Passive income $156k pa. Wife, 35, Salary $100k pa.
Paid off condo mortgage. Paid off car loan. Paid off all other loans and obligations. Debt free.
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Cool. Being debt free and retiring so young is the new status symbol. I'm inspired by you, I will work doubly hard from now on so that I can pay off all my loans and build up my stocks investment portfolio to give me a passive income of at least $100k pa.
My condo loan is left with $500k mortgage. To generate a passive income of $100k pa, I will need about $2m in stocks portfolio value (assuming 5% dividend yield). So, I need to pay down the $500k mortgage outstanding and save $2m before I can retire at 50. Not easy, but I will try my best.