SailNet Community - View Single Post - My Escape Plan - Insights Wanted
View Single Post
post #66 of Old 11-14-2012
First String
Join Date: Jan 2009
Location: South carolina
Posts: 868
Thanks: 45
Thanked 9 Times in 9 Posts
Rep Power: 9
Wink Re: My Escape Plan - Insights Wanted

Originally Posted by Stumble View Post

Frankly if you thought you could live on $1,000 a month, and you probably can. It would be best to have about 1,500 a month from interest. This way your principle grows faster than inflation, and you can keep ahead of the curve. Alternatively just a little bit coming in each year from paid work can really help add back to the principle.

Just 1,000 a year in paid work is the equivalent of having an additional 20,000 invested (at 5%) if you can pick up enough piece work to make even 5,000 a year, that's like having an additional 100,000 in the bank. Which would allow your principle to grow faster than inflation (this is the real key).
Great point
ltgoshen is offline  
Quote Share with Facebook
For the best viewing experience please update your browser to Google Chrome