The Money Required for being Financially Free

All of us desire to be Financially free, but very few among us now how much money they need to achieve that. I'm sure you haven't given it a proper thought. But it is the most important question you need to answer - 

HOW MUCH MONEY DO YOU NEED TO BE FINANCIALLY FREE?

 

Seriously, give it a guess that how much money do you need. 

Actually it is much much less than you think. It is lot easier than you think to be Financially free.

To know the amount you need, 

1. You first know how much money do you need in a month.
2. Then Multiply that amount by 12 that makes it the amount you need it in a year.
3. Then you need to multiply it by 20 (assuming 5% growth).
4. That gives you the amount you need to earn.

The 5% growth is very small growth. Normally the growth you get is more than 8%, even 10-15% which is very good. But to be on the safe side I've taken only 5% growth.

Now lets take an example, say you need Rs 50,000. That means that you need Rs 6,00,000 (Rs 6 Lakh) in a year, right.

So,

6,00,000*20 = 1,20,00,000

This means that you need only Rs 1.2 Crore to earn Rs 50,000 , not bad right.

Now, add the cost of your dreams (say EMI of a car) in the first step and then calculate the amount you need. This way fulfillment of your need looks lot easier. Doesn't it?

So, calculate the amount you require for being financially free and start saving that.

Tell us in the comments what you think about this post.

Thank You

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