How To Strengthen Financial Independence And Retire Early
Even after years of living paycheck-to-paycheck, you might find that you’re still no closer to achieving FIRE which stands for Financial Independence Retire Early and is essentially a plan to retire 20-40 years before you might typically.ur financial goals.
There is a desire gaining popularity with many millennials to retire early – really early while being completely financially independent by their 30’s and 40’s.
The plan is to save and invest between 50 and 70% of your income until you have thirty times your living expenses. And to do this as quickly as possible.
Some may retire all together while others find a job that allows them more freedom or allows them to do something different that they have always loved.
It takes some serious thought and some serious planning. Could you live a simple and frugal life, getting by on cheap cars, renting a smaller apartment than you think you might deserve, and eating at home more? Then saving at least 50% of your pay and investing that so that later, you can fulfill all your dreams!