Financial freedom...real numbers

What would you consider financial freedom for you? Put down what
that
means in actual dollar amount in liquid assets, how you would keep or
invest that to sustain it through your liftime, what age you would want
to
be at that point, and whether or not you want to have to work at all at
that
point.

For me:

I'd say if I had $2million right now, at age 45, I would consider myself
financially independent. It'd allow me to realistically invest
conservatively
and get 5% income stream a year and that would give me a darn good
lifestyle
without working. I'd probably invest more aggressively though and
shoot
for 8-10% just to keep ahead of inflation so I could live that lifestyle to
the end. I could even see myself taking an easy part time job just to
keep
from becoming too sheltered away (I'm not that social) as well as
helping
to get pocket money.

My number is the same, but I'd probably work anyway because I suck at social life.

I always figured the number for me would be $10 million liquid cash by age 55. Actually, I already have enough money to make choices aobut what I want to do and when I want to do it. I love what I do in life, am blessed with a great family and will probably work until my health gives way. The key is learning to live under your means. I can tell you I know tons of people whose lifestyle moves quicker than their income, even those who makes lots of money.

income for rest of life with cost of living adjustment = liquid assets x .
04%

or

liquid assets for financial freedom = income stream / 4%

So if you say 10 million

You think you are comfortable with about $400,000 in todays dollars a
year.

i don't think about numbers like that.

i plan to work for awhile.

even if i had all that money, i'd still work.

do bill gates and warren buffet go to the office every day?

stephen

Gates and Buffet are probably of the personality where they feel they
HAVE to be involved. I think retirement would drive guys like that crazy.

One of the things that affect the decision to keep working or not is how
much you love doing what you do. I used to love what I do, but my
interest in it has waned alot and I've become jaded, so now it's just a job
that I happen to do well and be lucky enough to get paid well for. My love
lies outside of that in my hobbies and other stuff though. So if I were to
be financially independent I would stop working in the field I'm in and just
pursue my hobbies, some of which might bring in pocket change.

Gate and Buffet go to work because they want to, not because they have to - that's financial freedom.

Buffett strikes me as the type that if he was on a beautiful beach, he'd be going nuts in an hour wondering how Geico or something else was doing...

but if you are good at increasing a companies value, why not do that and
then sell the company after a while and then donote a bunch of money to
a charity down the line. Use your expertise to increase the amount you
can help a charity?

Not related to the above....Charlie Rose interviewed Buffett last week. You
can watch the interview at www.charlierose.com

i go to work cause i want to.

as i like to live in a house, drive a car, buy a computer, i need to make a little money and use my life skills to make the best of my brain.

stephen