What does being wealthy mean to you? Is it bringing home £250,000 each year? Is it having £500,000 sat in your bank account? All that might sound very attractive, but what if in order to earn that £250,000 you have to work at least a 70 hour week, every week? What if you are working so many hours with so little time off that you can’t even squeeze in time to spend that £250,000 on things you actually want to do?
Whether you want property to just top up your earning’s each month or you want to completely replace your salary, you need to know how much passive income you need to make. Otherwise, how will you ever plan to get there?
Use this template to list of all of the expenses you pay each month (including any payments towards debts!) and find out your Financial Freedom Figure.