Comments on: The WHY leads to the WHEREFORE leads to the MONEY … http://7million7years.com/2008/03/18/the-why-leads-to-the-wherefore-leads-to-the-money/ How to make 7 million in 7 years ... Thu, 24 May 2012 01:26:57 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: A little off the top, please … « How to Make 7 Million in 7 Years™ http://7million7years.com/2008/03/18/the-why-leads-to-the-wherefore-leads-to-the-money/comment-page-1/#comment-466 A little off the top, please … « How to Make 7 Million in 7 Years™ Thu, 22 Jan 2009 08:58:26 +0000 http://7million7years.wordpress.com/?p=82#comment-466 [...] you could just ‘go for it’ anyway … as I’ve said before massive passion drives massive action, which produces massive results …. [...] [...] you could just ‘go for it’ anyway … as I’ve said before massive passion drives massive action, which produces massive results …. [...]

]]> By: My biggest mistake? « How to Make 7 Million in 7 Years™ http://7million7years.com/2008/03/18/the-why-leads-to-the-wherefore-leads-to-the-money/comment-page-1/#comment-465 My biggest mistake? « How to Make 7 Million in 7 Years™ Sat, 31 May 2008 13:49:09 +0000 http://7million7years.wordpress.com/?p=82#comment-465 [...] Now, you have the WHY that leads to the WHEREFORE that leads to the MONEY  … [...] [...] Now, you have the WHY that leads to the WHEREFORE that leads to the MONEY  … [...]

]]> By: How to be a millionaire … « How to Make 7 Million in 7 Years™ http://7million7years.com/2008/03/18/the-why-leads-to-the-wherefore-leads-to-the-money/comment-page-1/#comment-464 How to be a millionaire … « How to Make 7 Million in 7 Years™ Sun, 11 May 2008 11:32:55 +0000 http://7million7years.wordpress.com/?p=82#comment-464 [...] being a millionaire is all about what it frees you up to DO with the rest of your life, not just what it allows you to [...] [...] being a millionaire is all about what it frees you up to DO with the rest of your life, not just what it allows you to [...]

]]> By: If I were a rich man … « How to Make 7 Million in 7 Years™ http://7million7years.com/2008/03/18/the-why-leads-to-the-wherefore-leads-to-the-money/comment-page-1/#comment-463 If I were a rich man … « How to Make 7 Million in 7 Years™ Sun, 20 Apr 2008 16:04:35 +0000 http://7million7years.wordpress.com/?p=82#comment-463 [...] see, I believe that without that driving emotive reason, there will be no wealth! [...] [...] see, I believe that without that driving emotive reason, there will be no wealth! [...]

]]> By: Celebrating Spending Week! « How to Make 7 Million in 7 Years™ http://7million7years.com/2008/03/18/the-why-leads-to-the-wherefore-leads-to-the-money/comment-page-1/#comment-462 Celebrating Spending Week! « How to Make 7 Million in 7 Years™ Wed, 09 Apr 2008 12:48:43 +0000 http://7million7years.wordpress.com/?p=82#comment-462 [...] is a why and a wherefore that I will be exploring for the rest of this week … [...] [...] is a why and a wherefore that I will be exploring for the rest of this week … [...]

]]> By: It’s a musical life? « How to Make 7 Million in 7 Years™ http://7million7years.com/2008/03/18/the-why-leads-to-the-wherefore-leads-to-the-money/comment-page-1/#comment-461 It’s a musical life? « How to Make 7 Million in 7 Years™ Sun, 06 Apr 2008 12:52:51 +0000 http://7million7years.wordpress.com/?p=82#comment-461 [...] example, I wrote a post fairly recently about the importance of The Journey … money is the result, not the object [...] [...] example, I wrote a post fairly recently about the importance of The Journey … money is the result, not the object [...]

]]> By: AJC http://7million7years.com/2008/03/18/the-why-leads-to-the-wherefore-leads-to-the-money/comment-page-1/#comment-460 AJC Tue, 25 Mar 2008 21:15:14 +0000 http://7million7years.wordpress.com/?p=82#comment-460 @ Ethel - Sounds like a plan ... we all 'think' we need $20 mill., but many of us don't ... $2.8 mill. to fund $35 / annum in today's dollars sounds about right. If you retire early, not sure if you would need less ... probably same or more (money has to last you longer, so you would probably multiply by more than 20 ... sorry!). Once you confirm that you're REAlly on-track, my only advice would be to stop wasting your time reading a blog about how to get richer ... life's too short ;) @ Ethel – Sounds like a plan … we all ‘think’ we need $20 mill., but many of us don’t … $2.8 mill. to fund $35 / annum in today’s dollars sounds about right. If you retire early, not sure if you would need less … probably same or more (money has to last you longer, so you would probably multiply by more than 20 … sorry!).

Once you confirm that you’re REAlly on-track, my only advice would be to stop wasting your time reading a blog about how to get richer … life’s too short ;)

]]> By: Ethel http://7million7years.com/2008/03/18/the-why-leads-to-the-wherefore-leads-to-the-money/comment-page-1/#comment-459 Ethel Tue, 25 Mar 2008 20:49:08 +0000 http://7million7years.wordpress.com/?p=82#comment-459 Neat post! I'm relatively unassuming . . . I want 35k in today's $$. I want my current level of luxery, but am assuming I will not have a mortgage anymore. My "true purpose" essentially won't cost money, and my husband and I (and our 2 kids) live on 20k a year plus our mortgage payment and savings. My number is 2.8M in 40 years, if I did the numbers right (I was too lazy to prorate for just 40 years instead of 50). This will be pretty easy for us to do. My plan is to be agressive and aim for True Purpose, Variation on a Theme: Retire early. Then I need less money, but I will need it sooner, I guess? Neat post!

I’m relatively unassuming . . . I want 35k in today’s $$. I want my current level of luxery, but am assuming I will not have a mortgage anymore. My “true purpose” essentially won’t cost money, and my husband and I (and our 2 kids) live on 20k a year plus our mortgage payment and savings.

My number is 2.8M in 40 years, if I did the numbers right (I was too lazy to prorate for just 40 years instead of 50). This will be pretty easy for us to do. My plan is to be agressive and aim for True Purpose, Variation on a Theme: Retire early. Then I need less money, but I will need it sooner, I guess?

]]> By: AJC http://7million7years.com/2008/03/18/the-why-leads-to-the-wherefore-leads-to-the-money/comment-page-1/#comment-458 AJC Thu, 20 Mar 2008 00:30:34 +0000 http://7million7years.wordpress.com/?p=82#comment-458 @ Diane - I presume that by "If I could live off $3M in passive money today" you mean living off $3M / 20 = $150k per year today? If so, then roughly double for 20 years ($6M / $300k) IF inflation averages just a tad less than 4% for that whole time (keeping in mind, that means everything that you spend money on ALSO doubles in that time, so $150k today and $300k in 20 years are the same thing in monetary terms). @ Diane – I presume that by “If I could live off $3M in passive money today” you mean living off $3M / 20 = $150k per year today?

If so, then roughly double for 20 years ($6M / $300k) IF inflation averages just a tad less than 4% for that whole time (keeping in mind, that means everything that you spend money on ALSO doubles in that time, so $150k today and $300k in 20 years are the same thing in monetary terms).

]]> By: Diane Eats the Elephant http://7million7years.com/2008/03/18/the-why-leads-to-the-wherefore-leads-to-the-money/comment-page-1/#comment-457 Diane Eats the Elephant Wed, 19 Mar 2008 23:28:38 +0000 http://7million7years.wordpress.com/?p=82#comment-457 If I could live off $3M in passive money today - how much would I need in 20 years IF I retired then? Is that what the question is? Okay, I'm no dummy, but I think you need a bit more information than what is above in order to figure out what mathematics you want us to do. If I could live on 35k post-tax income today or say 70k today - pre-tax - but without having to go to work, then what's the next mathematical equation? Someone told me a nest egg of $3M would allow me to have a decent income per year (nothing huge like 500K). That would be in today's dollars. So are you saying to multiply that x 2 for 25 years (say 20 for me now), or because I am working those next years, leave it alone? I will assume double it (or add 80% since it is 20/25 years I think)...but for simplicity's sake, 3 becomes 6 then it x20 is 120M, right? Is that what you mean? I haven't read other writings that discussed this, so I may be coming in a bit naive. Thanks for any clarification you can provide. If I could live off $3M in passive money today – how much would I need in 20 years IF I retired then? Is that what the question is?

Okay, I’m no dummy, but I think you need a bit more information than what is above in order to figure out what mathematics you want us to do.

If I could live on 35k post-tax income today or say 70k today – pre-tax – but without having to go to work, then what’s the next mathematical equation? Someone told me a nest egg of $3M would allow me to have a decent income per year (nothing huge like 500K). That would be in today’s dollars.

So are you saying to multiply that x 2 for 25 years (say 20 for me now), or because I am working those next years, leave it alone? I will assume double it (or add 80% since it is 20/25 years I think)…but for simplicity’s sake, 3 becomes 6 then it x20 is 120M, right? Is that what you mean?

I haven’t read other writings that discussed this, so I may be coming in a bit naive.

Thanks for any clarification you can provide.

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