Want to retire one day? You need to know your financial independence (FI) number! Here's exactly how to calculate it.
🎯 If you to nail down your exact retirement goal using your net worth, spending, and investments, check out the Money with Katie Wealth Planner, which includes a built-in Financial Independence tracker: https://moneywithkatie.com/new-2023-wealth-planner.
This show is a production of Morning Brew and is produced by Henah Velez and me, Katie Gatti Tassin. Devin Emery is our Chief Content Officer. Our video editors are Christie Muldoon, Sebastian Vega, Greg Jacob, and Nichole Friedman. Additional fact-checking comes from Kate Brandt.
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00:00 Intro
00:36 Financial independence factors
01:45 The 4% rule & why asset allocation matters
02:52 Calculating financial independence
04:17 Factors to note
05:29 Determining your save rate
07:07 Outro