$10k a month in expenses is not excessive. This is about our household expense too.
What is networth now?
To achieve $15k per month (or $180K pa) in passive income, and with say 10% return on investment, you will need an investment capital of $1.8m.
At 5% ROI, you will need a capital of $3.2m.
At 3% ROI, you will need a capital of $6m.
All the above is not including your home!
What I advise people is - continue to use your human asset to earn money. That is, continue working. Together, (with work income and passive income) you will achieve your financial target much much faster.
Quote:
Originally Posted by Unregistered
i spend about $10k per month in expenses. most of it is car related, have many vehicles at home, erp, road tax, coe etc.
have loan commitments of about 80k per month, mostly housing loans. no car loans, no credit card debt.
only drive 2nd hand cars.
did not read any personal finance books, but so far i think i didnt do anything excessively.
not yet financially free though. should have been free about 10 years ago but made some poor decisions.
my plan is to get some kind of passive income of 15k per month. |