 Ah, financial independence. No more dragging your highly-caffeinated self to a job you don't like. Spending time with family and friends. Doing whatever you want whenever you want.
I'll keep this one short and sweet: it is possible to retire early. Maybe even really, really early. And no, you don't have to be a millionaire or have a six figure job. Let's get started! The most important thing that matters to FIRE (Financially Independent Retire Early). Are you ready for it? It's your savings rate. Play with this calculator to see years until retirement change based on your savings rate (irrelevant of income). For example, someone with a 30k salary who saves 50% of their income has the same years until retirement as someone with a 100k salary who saves 50% of their income. Savings Rate | Years until retirement 10% | 44 30% | 25 50% | 15 60% | 12 80% | 5 Tips for maximizing savings rate: - don't buy shit you don't need - cook for yourself - bike everywhere - minimize recurring expenses - take advantage of free fun There are lots of great FIRE calculators out there, that is just one. Some people save everything they can and put it in a brokerage account like Betterment. Some get into real estate. Many forge their own unique path. All that matters is that you know it's possible (and fun!) to live below your means and pursue financial independence. Comments are closed.
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