How we can reach financial independence and retire earlier - if we know three variables about our own finances, we can create a plan for retiring faster than the average person does.
Networthify Calculator: https://networthify.com/calculator/earlyretirement?income=50000&initialBalance=0&expenses=20000&annualPct=5&withdrawalRate=4
The 4% Rule Video: https://youtu.be/RUNzB_Nd3wc?si=zGBt9Syxr6B2yylS
4% Rule Article: https://www.mrmoneymustache.com/2012/05/29/how-much-do-i-need-for-retirement/
FIRE: https://reddit.com/r/Fire/
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Timestamps:
0:00 - Start Here
0:43 - How Retirement is Defined
1:46 - Step 1: Your Spend
3:39 - Step 2: Savings
8:11 - Step 3: Income
9:59 - Must Do Number 1
10:29 - Must Do Number 2
10:49 - Must Do Number 3
12:07 - Must Do Number 4
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PS: I am not a current Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel!