YOUR MONEY: How much cash do I need to give up my job and trade full-time?
A reader wants the maths on how much money is enough to allow him to give up the daily grind
08 December 2022 - 05:00
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I am a part-time economics student with a full-time job. I have an online share trading account but not in my personal capacity. How much should I save from my salary before I can safely resign and focus full-time on investing? Should I park these monthly savings in an exchange traded fund (ETF) until I reach the amount I need, meanwhile gaining the necessary knowledge and skills, or just invest and learn as I go? I don’t want to manage other people’s money, just my own. I’m thinking long term and not just a get-rich-overnight hustle. I am in my early 30s and don’t have a wife or children.
— Name withheld
Debate:
We’d like to hear from you on this topic. E-mail us on yourmoney@fm.co.za and we’ll include the best answers, as well as the views from experts in next week’s edition.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
READER LETTER OF THE WEEK
YOUR MONEY: How much cash do I need to give up my job and trade full-time?
A reader wants the maths on how much money is enough to allow him to give up the daily grind
Question:
I am a part-time economics student with a full-time job. I have an online share trading account but not in my personal capacity. How much should I save from my salary before I can safely resign and focus full-time on investing? Should I park these monthly savings in an exchange traded fund (ETF) until I reach the amount I need, meanwhile gaining the necessary knowledge and skills, or just invest and learn as I go? I don’t want to manage other people’s money, just my own. I’m thinking long term and not just a get-rich-overnight hustle. I am in my early 30s and don’t have a wife or children.
— Name withheld
Debate:
We’d like to hear from you on this topic. E-mail us on yourmoney@fm.co.za and we’ll include the best answers, as well as the views from experts in next week’s edition.
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