MyMoney Online, Personal Finance with Warren Ingram, Evergreen Content

How to calculate how much money you need to never have to work again

How much is enough?

Many of those reading this article are working hard to earn enough money so they can invest and reach financial freedom.

Do you know how much money you need to be financially free?

Is there a simple calculation to work out how much you need?

Everyone will have a different answer because our lifestyle costs and goals are different.

The Money Show’s Bruce Whitfield interviewed Warren Ingram, a personal financial advisor at Galileo Capital.

Ingram told the story of an acquaintance of his who must work to cover his costs.

The acquaintance has a net worth of R50 million, but he's not financially free.

Another person he knows has assets worth R11 million; he’s decided never to work again.

Being rich is not the same as being financially free, explained Ingram.

For more detail listen to the interview in the audio below (and scroll down for quotes from it).

‘Enough’ is possible for every single one of us…

Warren Ingram, Personal Financial Advisor - Galileo Capital

If you spend R10 000 a month… the capital you need is R2.4 million…

Warren Ingram, Personal Financial Advisor - Galileo Capital

We become slaves to debt… We work for banks!

Warren Ingram, Personal Financial Advisor - Galileo Capital

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
Huawei owner? Why you may want to trade yours in for a Samsung

Huawei owner? Why you may want to trade yours in for a Samsung

No more operating system updates and future versions will lose access to Google Play Store, Gmail, YouTube and Chrome.

Standard Bank takes on Capitec Bank with low-fee account, gigabytes of free data

Standard Bank takes on Capitec Bank with low-fee account, gigabytes of free data

The account costs R4.95 per month; you get 1GB of free data. Swipe 4 times a month; you get 0.5GB of free data and R50 airtime.

How to live off a dread disease benefit

How to live off a dread disease benefit

Personal finance advisor Warren Ingram discusses "dread disease benefits", typically paid out as a lump sum.

Meet Dr Sibusiso Sibisi, inspiring math whiz at the head of Wits Business School

Meet Dr Sibusiso Sibisi, inspiring math whiz at the head of Wits Business School

Bruce Whitfield interviews Dr Sibusiso Sibisi, Director and Head at Wits Business School (WBS), for his "ShapeShifter" feature.

'I don’t spend much. I drive an old car. I’ve never been in debt'

'I don’t spend much. I drive an old car. I’ve never been in debt'

Bruce Whitfield interviews analyst Chris Gilmour about his attitude toward money (hopes and fears, successes and failures, etc.).

How to save and buy an island (you need only R2000 per month)

How to save and buy an island (you need only R2000 per month)

Saving money on boring stuff such as a car can allow you to do really outrageous and courageous stuff, says Sam Beckbessinger.

Popular articles
Standard Bank takes on Capitec Bank with low-fee account, gigabytes of free data

Standard Bank takes on Capitec Bank with low-fee account, gigabytes of free data

The account costs R4.95 per month; you get 1GB of free data. Swipe 4 times a month; you get 0.5GB of free data and R50 airtime.

[WATCH] Eusebius delivers emotional obituary for Kaizer Chiefs

[WATCH] Eusebius delivers emotional obituary for Kaizer Chiefs

The Glamour Boys lost the Nedbank Cup final to underdogs TS Galaxy on Saturday.

 Jacob Zuma back in court today, lawyer plans isiZulu opening statement

Jacob Zuma back in court today, lawyer plans isiZulu opening statement

Tiso Black Star specialist reporter Karyn Maughan discusses the former president's permanent stay of prosecution application.

'Driving licence backlog whittled down to about 30 000 nationally'

'Driving licence backlog whittled down to about 30 000 nationally'

Western Cape Transport MEC, Donald Grant, says there is progress in renewals which stood at about 200 000 two months ago.

'It is very clear that Ramaphosa is under attack from Magashule and others'

'It is very clear that Ramaphosa is under attack from Magashule and others'

News24 editor-in-chief Adriaan Basson says there is a definite fight back from the ANC secretary-general against the president.

[UPDATE] Kind-hearted listeners ensure murdered security guard receives burial

[UPDATE] Kind-hearted listeners ensure murdered security guard receives burial

Ernest Kanzi's family will take his body back to the Eastern Cape on Thursday thanks to the generosity of Clint Beech and others.

Schwarzenegger urges public not to give Sandton 'fan' the attention he craves

Schwarzenegger urges public not to give Sandton 'fan' the attention he craves

A video of a young man kicking actor and former US governor Arnold Schwarzenegger in the back on Saturday in Joburg went viral.

How to save and buy an island (you need only R2000 per month)

How to save and buy an island (you need only R2000 per month)

Saving money on boring stuff such as a car can allow you to do really outrageous and courageous stuff, says Sam Beckbessinger.