Accumulation of $1.2mil for passive income of $5000 per month.
How achievable is it?
The initial part is always slow. Assume I invest $40,000 yearly, the first year interest is only $2000.
With more money invested and the interest will increase to $39,200.
Subsequently, the interest itself will exceed my principal amount that I regularly invest.
Compound interest is very important.
A lot of people ask me why I DCA regularly. The above is my reason.
The starting part is always painful. Some people may start to withdraw the dividends and spend them away. This is part of the reasons why some people will never achieve the expected outcome for financial freedom.
Set the goal and continue to monitor the progress along the way.
I am on the way to achieve this results. For 2023, my return was 4.75% which was relatively average
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- dropppie·02-04Great plan! Keep it up! 📈LikeReport