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Another approach could be to work for 25 years at full time then 25 doing nothing, instead of 50 years part time. I've heard this approach called FIRE - financ
by pmg102 3y ago
Another approach could be to work for 25 years at full time then 25 doing nothing, instead of 50 years part time.
I've heard this approach called FIRE - financial independence, retire early.
- CalRobert 3y agoYeah, taxes make that hard where I am. Better to work part time
- pmg102 3y agoYour point about taxation which is usually progressive is well taken. It could be offset by the fact that you could invest the money from the first 25 years thus benefitting from a compound return. I don't know which has the bigger effect.
- CalRobert 3y agoVery much depends on your country and your particular tax situation, of course. The US is pretty good for FIRE (aside from dealing with health insurance). Ireland (where I live) is terrible, by comparison.