What $150,000 Looks like for your independence

The gross value

Previously I asked the question of how much it takes to retire early. This same question also is how much it takes to become financially independent.

There were a range of answers all the way from a retirement pension that only provides $24,268.40 per year, through to a real case where the money target was $384,000 per year.

Using average figures along with a multiplier of 2.5 I rounded up to come up with a number of $150,000 per year net.

So what does $150,000 look like?

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How much do you need to retire early?

What is retirement?

When most people think of retirement the first thing people tend to think about is the freedom that comes with not having to go to work each and every day. Taking this further the vast majority of people ‘want’ to retire early, but very few dare to explore the options available to make the dream a reality, until time is heavily against them.

But retirement usually has a few common factors namely, having enough money available to support their quality of life without needing to work for more.

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Why your success starts in your head first

What is success? Getting past ‘Selfish’

The whole idea of personal success is an abstract idea. Namely everyone has a different definition and more so the bigger your goal the more likely you are to either feel selfish about it or worse, have people around you tell you you’re selfish and try to beat your dream to death before it even has time to drop roots.

Unlike most people I’m ‘Pro Dream.’ Why are dreams bad? They’re not! Why are ambitious goals bad? They’re not. After all if you’re employed by … anyone the chances are you’re part of someone else’s dream. See how easy it is to dismiss the evil rationale?

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Why money for time is a poor trade

Do you really need to work for money?

This is a question that not many people ever ask? But for the vast majority of people out there who are well and truly indoctrinated into the money for time exchange this just seems to be the accepted way of life.

When it comes to having a job, your role and the amount you’re given for the work you do is ultimately reduced to a single number … dollars per hour. And as an extension of this you’ll be expected to work a set number of hours. Pretty standard stuff.

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How superannuation won’t help you retire early

Do you want to retire early?

Who doesn’t?  Besides you should. But if you really want to become financially independent before ‘retirement’ then there are some things you absolutely need to know about your superannuation fund and how it isn’t going to help you get there.

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