Financial planner reveals how much you need to stop working and be considered wealthy

Finance
Businessman hands holding money — Australian dollar bills. equity crowd-funding — Australian money for business ideasSource:Supplied
THERE is a certain, surprising, figure wealth experts say Aussies need to have to be living comfortably.

WHEN it comes to wealth, many Australians have different views.

But when you talk about the general definition of being able to not have to work anymore, there’s a magic figure that will achieve that.

Griffith University financial planning expert Katherine Hunt said based on commonly used figures in the industry, a couple would need $2 million together in unearned income — income from private means, most commonly investment earnings, rather than from working.

For an individual the figure would be higher — about $1.5 million — and it doesn’t include money from working…Read more