IS 10 MILLION PESOS ENOUGH?
In this video we talk about is 10,000,000 Pesos enough? Can you live off 10 Million Pesos? That and more in this video !
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Context of this video is a question sent by:
Sharee Lauren Santos
“Hi Sir Marvin! I am a big fan from Italy! I have been working here for 10 years now, I just want to know if 10 Million Pesos is enough for me to retire back in the Philippines?
You deserve 1 Million subscribers sir!”
Now the question is, is 10 Million Pesos enough?
Personally for this to be legit, it has to be passive income for life.
So my assumption is — this 10 Million is just your nest egg for “retirement”
It means that you should have your separate emergency fund and if you wish to further grow your networth, you also have a separate fund for it.
It also means that this is purely for cashflow purposes only.
What you need to do is work backwards.
1.how much do you spend per month? Then multiply that by 12.
For the sake of this video you spend 50k a month, that’s 600k a year.
That means your 10 Million Pesos should give you 600k a year.
2.To make this example easy also, we will make an assumption that you will place it in an asset that will give you a net 5% return.
*does not mean it should always be 5%, there could be years you get 7%, there could be years that is is 4%.
Is this possible?
Yes – REITs, Pref Shares, GLO, TEL, MP2.
So I mean its possible.
But 10M at 5% only gives you 500k.
So for this specific scenario. 10M with a lifestyle of 50K a month, it is not possible.
So what must you do?
1.lower your budget? Lower your spending?
*since you have other funds, that are growing money for you you can adjust this.
2.make your golden number bigger. Say 13M. 13M at 5% net is 650k which is way above the 600k benchmark.
So to answer your question — is 10M enough, yes and no. The biggest thing to determine that is your lifestyle.
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