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# Residualincome

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### Residualincome

1. 1. Meet Dave……my first financial client
2. 2. Dave is 30 years old and earns B50,000 THB a month nice life….now
3. 3. I asked Dave If he were to retiretomorrow how much money would he need to have a life?
4. 4. Dave replied“well I am having a good life now, so the same : B 50,000 a month”
5. 5. When do you think you will retire I asked Dave: “65 like everyone else “ He told me
6. 6. I asked him :How much money do you need in the bank to retire on B50,000 per month ? The next figure shocked him!
7. 7. To draw down B50,000 eachmonth to live of; he needs15,000,000 (15 m) THB in thebank
8. 8. Let’s do the maths :On average 4% inflation over last 100 yearsMeans roughly same Bank interest on savings15 million baht draw at 4% per year =600,000 THB = 50,000 THBper/monthDave has 35 years working life left =420 months (not long when you lookat it like that eh)15 MILLION THB divided by 420 months is 35,000 THB each monthSo Dave must save 75 % of his salaryeach month from today till he retires justto have the same life he has now!
9. 9. What are you doing today to make sureyou have a life tomorrow?Develop a residual incomeResidual income is money that comes toyou every month with out having towork for it anymore= freedomJust do itAlan