3 ms·
If you plan to FIRE, you can focus on increasing your income and/or decreasing your spending. Of the two, decreasing your spending is more powerful: 1. You sav
by millstone 8y ago
If you plan to FIRE, you can focus on increasing your income and/or decreasing your spending. Of the two, decreasing your spending is more powerful:
1. You save more.
2. You can live on less should your income drop (for example, you retire).
This is born out mathematically: a permanent $1k drop in spending is way more powerful than a $1k increase in income over your earning years. Cultivating a lean lifestyle seems like a good general skill.