To become rich, I need to earn passive income to attain financial freedom. But after I have carefully calculated the required savings for generating enough passive income for financial freedom, I need to save more than a million dollars.
Supposed I may need $3000 for month for my daily life, and annual passive income for my savings investment is around 5%annually , so I need to have ($3000/0.05)*12 =$720000 savings to have $3000 passive income per month.
Total be more controversial, we need to have more than US 1000000 in savings
What do you think ?
thx!
Supposed I may need $3000 for month for my daily life, and annual passive income for my savings investment is around 5%annually , so I need to have ($3000/0.05)*12 =$720000 savings to have $3000 passive income per month.
Total be more controversial, we need to have more than US 1000000 in savings
What do you think ?
thx!