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On MFM I asked Scott Galloway how much money it actually takes to feel economically secure. He gave me the formula and then his own number.- Take what you need to be happy each year. Times it by 25. Assume a 4% post-tax return. That's your number.- His own burn: $300k to $400k a month.- $5m a year times 25 means he needs $125m to be economically secure.He said in his 20s he thought if he ever saved $1m he was done, he'd start writing scripts for Tom Cruise movies. Then he found out how expensive
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On MFM I asked Scott Galloway how much money it actually takes to feel economically secure. He gave me the formula and then his own number.- Take what you need to be happy each year. Times it by 25. Assume a 4% post-tax return. That's your number.- His own burn: $300k to $400k a month.- $5m a year times 25 means he needs $125m to be economically secure.He said in his 20s he thought if he ever saved $1m he was done, he'd start writing scripts for Tom Cruise movies. Then he found out how expensive
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