When I quit my job I thought about permanently retiring. If I had won the lottery then you wouldn’t be reading my blog. I would have traveled in a heart beat to some foreign country where a translator is a requirement. But you aren’t hallucinating, and are reading my blog so that means I have to get my millions first.
Now I’ve decided to try freelancing/ I-don’t’-really-know-what-I’m-doing, my financial status have changed. True I never know when I would get any money, but I have less expense now. There is no need to commute from home to office and no more over priced lunches. Still I want to retire someday. I want 20 years of no work before I die.
I read somewhere before you retire you have to take account your current expenses and adjust it with inflation then multiply it to the number of years you plan to retire. My monthly expenses cost 10,000 ($250) when I was still working. I’m still single now and I plan to have only two children (any more and I would consider parricide). I’m guessing I need to multiply my current expenses by three adjust that to the inflation rate then multiply to the number of years.
I know a lot of people don’t like math. But I like teasing people so I made a table of how my computation looked like.
30,000 (estimated expenses with kids involved) x 110% (5% inflation for the 22 years I would work before I retire) x 12 (months in year) x 20 years (my retirement time) = 151,200,000 ($3,360,000).
Wow. Damn the inflation. Damn future children. I had to wash my face after computing. I had a computation once that did not factor in the inflation. It was a third of what is written above. The good news about this is that I now know how much I need. So if I get that number, god knows how, I can stop working.
Now we go to the meat of this blog. I now compute how much I need to earn in a selected time frame.
Total amount divided by time frame = (((151,200,000/22)/12)/30)
In a year I need to earn 6,872,727, or 572,727 in a month, or 19,090 a day. I need to earn 19,090 tomorrow. How the heck do I do that? Plus I just realized I might need to kill myself if I am still alive 20 years after retirement. I never understood why people hate Math, until now. My parents never earned that much money. I fear its not in my genes too.
I am now not above in asking for donations. Please message me if you want to be my friend who will love you and your money.
1 comment:
Start at the age of 60 then calculate the approximate amount. :) I love your blog nard. ^^ Thanks for the comment as well. It takes time lang siguro. Everything, in God's time, will be revealed. if he is meant with me or not. As for you, be blessed and goodluck to wherever you may be.
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