Finance: Retirement corps | Mutual funds
In next 10 years, make sure you have enough money that you don’t need money anymore.
If you make enough investment that pays you more than you spend you have achieved financial freedom.
It can be in terms of bussiness, properties, bank deposits, investement etc. Do it anyway but it has to produce returns of 50K at current level. If It was 1 lakh at current level, I would be completely free.
If I just put 1.40 lakh on bank account it will happen.
Beside investments, I need to have my own house, basic furniture and a car.
I also don’t need to leave a lot of property etc.
My expenses are :
- Rent
- Transportation
- Food
- Clothes
- Education
- Health
- Parent
- Luxury
- Personal expenses [ Haircut… ]
- Buying stuff [ Bed | Mobile… ]
Currently it takes around 50K.
The cost of house will be around 1Cr. which can be used later for reverse mortgage and car and furniture will be around 15 lakhs.
2 cr. 50 Lk. is kind of a very ballpark figure for your freedom.