Originally Posted by
smpl
Using an annualized average of 15 years of my investment returns - it is reasonable to assume that I can get an passive income of 40k per year from my portfolio going forward. Several years of tax work says that it costs me 24k per year to live a good quality of life in New Zealand (good food, utilities, transport, clothes, fun stuff, living conservatively). Although I do live rent free with a home and income - ie rent pays for the mortgage. I spend an additional 6k per year on 'unnecessary' things ie eating out, alcohol, holidays, personal expressions through commercial expenditure. After taking into account i) inflation ii) tax iii) mortgage repayments iv) savings for retirement and v) future savings and expenditure for family, then I have a decent amount of residual income remaining, especially if I cut my expenditure a little bit...
I am 30 years old and began to question the value of accumulating wealth just for myself. Research into the components of fulfilling work revealed that meaning is by far far the most significant factor. So I think I can and make a real difference over the rest of my life then I should apply the Principles of Compound Interest (ie 1. start young 2. give often) to Making A Difference in my career. See charities recommend by GiveWell and The Life You Can Save.
What do you think?