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>If you don't track your personal spending, start now. Your life is a little business. If you save 25x your annual spending and invest it properly, you can decl
by Rainymood 9y ago
>If you don't track your personal spending, start now. Your life is a little business. If you save 25x your annual spending and invest it properly, you can declare financial independence, withdraw 4% a year, and live off your investments FOREVER.
Factually this is not guaranteed. Highly likely, yes, but its not a "truth" so to speak. This is financial advice calibrated to historal returns. Besides that, not everyone wants to life as frugal as a homeless person for 20 years. A lot of people will regret it.
- baccredited 9y agoAgree with you on the frugality bit. Take a look at fatFIRE, a community of people who save aggressively to retire early but still enjoy a relatively lavish lifestyle after retirement. https://www.reddit.com/r/fatFIRE/ https://www.reddit.com/r/fatFIRE/ My savings target is about $6MM. I won't need to live like a 'homeless person' as you say when I get there.