How many stocks do you need to pay all your bills

I think the goal for a lot of investors or future investors, is to have our investment cover all of the cost ( that we can retire from passive income)

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1. Where we are and where we want to arrive ( and then create little milestones in between)

- First step knowing where you are So all you have to do, is make a list of all of your expenses ( how much they cost monthly and also annually and then add the totals )

- Second step is where we want to go: we want our investments to cover all these costs ( for you it might 40k and above for me it's lower for now) – if you follow the 4% withdrawal which means in English, you only withdraw 4% a year of your portfolio to cover your cost, and let the other 96% grow ( so you don’t run out of money)
- All you have to do is divide your total cost a year by 4% and that’s it ( to figure out how big your portfolio needs to be ( for me $11,496/.04=$287,400 to cover all my expenses if I want to live with my mom forever)
- After that, you want to plug those numbers into a calculator to see how much you need to invest each much to get your goal ( if it's not doable, you need to adjust how long it’ll take you or lifestyle)

Tip: divide the number need to invest by 4 to break it down weekly or 2 to bi-weekly.

2. Let's start Creating MileStones ( Third Step )
- This is going to help us see, that we actually are getting closer to our goal each day
- Because getting to 200k is hard and getting to 1.2M is also hard and it's going to take a while
- So we want to have fun along the way

The Milestones and Prizes:
- To get the milestones here is what you do: Each expense has an annual cost, so divide that 4% ( and that will tell you how much you need to cover it ) – start with the smallest and work your way up like any good game)
- And once you achieve that goal ( reward yourself with something you deserve it) – for me that might be a test drive my dream car or invite friends over for smash bros – ( don’t make it expensive)

Problem:
- Some bills you are most likely going to eliminate you see that they are not worth it
- For example for me, I need to have $40k to cover my $133 phone bill that’s for 3 people with Tmobile ( I might have to go it solo, and get mint mobile for example for $30 a month and only need 9k)
- So when you’re doing this lookout for big expenses you can save money on or just cut completely.

3. Summary
- Know where you are
- Know where you are heading
- And create milestones along the way to keep you motivated

Ps: Do not start taking out 4% of the money until you get to your bill goal, and even when you get there if you still have a job you love and are not going to quit, just leave the money and keep investing ( that way the money grows even more with time)

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I'm an Accountant but I'm not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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