{"id":112,"date":"2006-03-16T12:23:17","date_gmt":"2006-03-16T12:23:17","guid":{"rendered":"http:\/\/www.montreal-realestate.ca\/english\/2006\/03\/how-to-obtain-financial-independence\/"},"modified":"2019-03-12T11:12:47","modified_gmt":"2019-03-12T11:12:47","slug":"how-to-obtain-financial-independence","status":"publish","type":"post","link":"https:\/\/www.montreal-realestate.ca\/english\/how-to-obtain-financial-independence\/","title":{"rendered":"How to obtain financial independence"},"content":{"rendered":"

Let\u2019s say you make $60,000 a year. In 25 years, with inflation rate at 3%, you will need approximately $125,000 to have the same comfortable lifestyle.<\/p>\n

To retire at 65 and draw $125,000 annually, you will need $1.8 million in capital and have it invested at 7% interest per year.<\/p>\n

Take tax deferral plans into account, you will have to invest $1,100 every month at 10.5% interest for the next 25 years. Yikes!<\/p>\n

Stream of income<\/strong><\/p>\n

swift codes bank in United State<\/a>
\n\u201cLeverage is what makes real estate the most powerful investment of all time\u201d \u2013David Chilton, Noted Investment Expert and Author<\/div>\n

You invest in an $80,000 condo with a down payment of $20,000. You initial investment would grow to $167,000 with a growth rate of 3% per year over 25 years.<\/p>\n

Even after the tenant has paid off your mortgage, they will continue paying your rent. Which means if a tenant is paying $800 monthly, if 25 years, with a 3% growth rate, it would be $1670.<\/p>\n

Assuming ongoing operating expenses to be approximately 40%, you\u2019d still be left with over $1,000 per month income.<\/p>\n

Now imaging having 6 or 7 such properties paying you\u2019re a monthly income of over $1,000 each.<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Let\u2019s say you make $60,000 a year. In 25 years, with inflation rate at 3%, you will need approximately $125,000 to have the same comfortable lifestyle.<\/p>\n","protected":false},"author":2,"featured_media":8864,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","sfsi_plus_gutenberg_text_before_share":"","sfsi_plus_gutenberg_show_text_before_share":"","sfsi_plus_gutenberg_icon_type":"","sfsi_plus_gutenberg_icon_alignemt":"","sfsi_plus_gutenburg_max_per_row":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5,6],"tags":[],"class_list":["post-112","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mortgages-finances","category-real-estate-investing"],"yoast_head":"\nHow to obtain financial independence - Montreal Real Estate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.montreal-realestate.ca\/english\/how-to-obtain-financial-independence\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to obtain financial independence - Montreal Real Estate\" \/>\n<meta property=\"og:description\" content=\"Let\u2019s say you make $60,000 a year. 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