What is Whatever Money?
Whatever Money is money working for you so that you can do whatever you like.
Okay, I like that. How can I have my Whatever Money?
Commit that you will save a certain percentage of your income. Remember: the higher the percentage, the better.
I can do that, but when is the time to finally say that I have enough Whatever Money?
Determine your annual expenses then multiply that by 25. That’s your target Whatever Money. When you achieved your target, that’s the time.
Annual Expenses: Php1,200,000.00
Whatever Money: Php1,200,000.00 x 25 = Php30,000,000.00
But… isn’t that a lot of money?
O… kay. Is it possible to reach that kind of target?
Put your monthly savings to an investment that will help you reach your target. Great example is investing in the stock market. Putting your money at work is the key.
What do you mean by “money at work”?
If you save Php5,000.00 per month for 5 years and put it in an investment that earns 5% per year, by the end of 5 years you will have more than what you saved.
Annual Savings: Php5,000.00 x 12 = Php60,000.00
Annual Earnings: Php60,000.00 x 5% = Php3,000.00
Total Savings in 5 years: Php60,000.00 x 5 = Php300,000.00
Total Earnings in 5 years: Php3,000 x 5 = Php15,000.00
What else should I know about this Whatever Money that you’re talking about?
What about that?
You may withdraw at least 4% of your Whatever Money annually. That’s safe. But of course, you would be wise to lower your withdrawal rate from 4% to a certain percentage when needed.
I already have my Whatever Money. Now what?
You can choose not to work ever again. You can choose to resign from your current high-paying-stressful job and find a low-paying-but-meaningful job. You can choose to stay. You can choose to go. You can choose to say, “Whatever, I have money,” whenever the opportunity arise. You can choose anything because whatever, that’s your money.