I'm 50 and wish I could retire rich, but how can I do so?
_ PamANSWERED BY...Teera Phutrakul, CFP, Chairman, TFPA Define rich. What does it take to be rich these days? 10 million baht? 100 million? Ask a dozen people what it means to be rich and you will probably hear a dozen different answers. Money is a funny thing. It means different things to different people.
The term "financially independent" often comes to mind when we try to define the meaning of being rich. Most people rely primarily on their salary as their main source of income. However, many of us also have a second source in the form of investment income such as rentals, interest or dividends. If your investment income exceeds your monthly expenditures, it means you are financially independent.
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