Help with the magic formula please!

From: Marc Krisjanous


Hi all,
We are currently working on our plan for financial independence (passive income provides all our required needs) and I was wondering if anyone has a formula that we can use to work out how many IP's we need in say 10 years (taking into account outstanding loans, tax, inflation etc..) to reach this Nevada!

I know that there must be a whole heap of variables that newcomers like us do not know nor understand.

Any help would be most appreciated.

Best Regards

Marc
 
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WebBoard

Guest
Reply: 2
From: Anonymous


Duncan

How do you know where he wants to retire to?
 
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Sim

Administrator
Reply: 2.1
From: Sim' Hampel


Or what rock bands he likes ?

 
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Reply: 2.1.1
From: See Change


I see the chat room crowd are in action today...

Magic Formula = Hard Work.

You need to work out your own "magic formula" .

Starting point = reading

Jan Somers:
Story by Story
More wealth though Property investment
Craig Turnbull: It's easy to be a property Millionaire
Dolf De roos:
Real estate riches
John Burley:
can't remember the title ? money secrets of the rich ( someone will correct me )
RObert Kiyosaki:
Rich Dad Poor Dad
Retire young retire Rich

Other books that are popular are
"The Richest man in babylon" and "Who Moved my cheese"

And spend time on forum / chat room finding out what other people are doing and whether that is appropriate to your situation and how you can adapt it.

see change

it's better to be guided by your dreams than your fears
 
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Reply: 3
From: Steve Mcleod


Marc,
You could possibly look at the rent in todays money and work out how many Ip's you would need to retire now. All things being relative you would need the same amount in years to come.

Steve
 
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Anonymous

Guest
Reply: 3.1
From: Anonymous


In Jan's book 'Building Wealth In Changing Times' it has the magic formula.

Mum Investor
 
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