Ever wonder what it would take for you to financially "walk away" from your job? There was an intriguing article in the Wall Street Journal recently that cited a study by Standard Chartered Priority Banking and Scorpio Partnership. Nearly 1,800 wealthy people (average annual income $120,000 and average net worth of $1.3 million) in 10 Asian countries were asked to name the figure that would represent financial independence for them. South Koreans topped out the list with $5.1 million and Indonesians came in lowest at $3 million. The average target number was $3.5 million.
Granted, higher living standards might go along handily with a net worth of more than $1 million, but the survey poses a challenge everyone should take for their financial future. Thinking about what your goals are, and then finding a way to achieve them financially (within reason) could be more than a "Lifestyles of the Rich and Famous" dream. It could be an exercise in getting, and staying on financial track.
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