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There is a busy subreddit- financialindependence- comprised of people hoping to retire by 40. Its a mixture of a frugal lifestyle and high savings. The rough fo

There is a busy subreddit- financialindependence- comprised of people hoping to retire by 40. Its a mixture of a frugal lifestyle and high savings. The rough formula is you a financially independent when you have 25 times your annual expenses saved. That is a million if you can live on $40,000. Some single people in professional jobs can fairly easily do this. I find it sad when some posters go overboard by denying themselves vacations and families just to feel rich.

strix_varius 5y ago
To clarify, “retire by 40” is definitely not a component of /r/financialindependence. The subreddit is about building a life you want and living below your means until that life is sustainable independent from employment. There is no specific age involved, and everyone’s means and goals are unique.