Thanks for your answer. Having a goal in mind makes planning easy, I agree. However having a goal amount also means you need to know when you need that money. If you are employed in the traditional sense, this is easy, you kind of know when you will retire and when you will need the money.
In my case, I have a goal number that I know I need but I don’t want to stop there. I am not planning on a retirement at a certain age. I am self employed, I tried retirement for a year when I was 32, I am done with the idea. I live better doing what I do.
I am sure there will be a time when my current skills are no longer valuable and / or I don’t feel like doing what I do. At that point I want this corpus to give me the opportunity to do what I want to do. I don’t know what that is today, so the goal is to maximize the corpus. It could be farming oranges, or it could be doing carpentry. We will see.
I am 35 currently, so I am taking 20 years as a safe time frame. My father and his father and his father all had plenty of energy at 55, 65, and even 75. So I am guessing I will have enough energy to pursue my projects at least until 55. If I am still alive that is.
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