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Eric Siu and a guest discuss their wealth targets for financial independence. One speaker's "FU number" is $25 million, which at 4% returns generates $1M yearly for homes, kids' education, cars, and family expenses without working.
Eric Siu and a guest discuss their wealth targets for financial independence. One speaker's "FU number" is $25 million, which at 4% returns generates $1M yearly for homes, kids' education, cars, and family expenses without working.
How rich do you want to be? What would be ideal? Because I think you made a comment about how billionaires shouldn't exist.
This ties back to like my FU number. The FU number in my head right now as it stands is $25 million, because at $25 million invested, that backs into about $1 million a year if I'm able to get a 4% return on that $25 mil, which is very conservative. And at $1 mil a year, I can do everything that I want in my life. My primary home, I have a vacation home. I'm going to be able to help put my kids through any sort of education they want to do, any sort of vacations our family wants to have. We'll be able to afford a car. It's going to cover every expense that I need. I wouldn't have to work anymore. And at that point, I would say that my priorities would severely change based on the fact that my financial needs and my family's future financial needs, not just my own, but my family's future financial needs would all be met.
