How Much Do I Need to Save to Retire Early?
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- Опубликовано: 3 июн 2024
- How much do you think you need to retire early? How do you deduct other income sources like real estate and Social Security from the total FIRE number? (Financial Independence & Retire Early)
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⏰ Table of Contents ⏰
0:00 Retirement Calculation
1:57 FIRE Calculator
5:49 Total Investments
#FIREPsyChat #FinancialIndependence #RetireEarly
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Disclaimer: This video is not in any form of personalized financial advice. I am solely sharing my personal experience and opinions. All Strategies, tips, suggestions, and recommendations shared are solely for entertainment and educational purposes only. There are financial risks associated with investing. You must conduct your own research and due diligence or seek the advice of a licensed advisor if necessary.
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Powell is like WHAT!!!
Great video!
Thanks 👍 going to look at the calculator. Trying to figure out how to use FIRE for my family and I at 57. While starting our 13 year old daughter on her FIRE path.👍🤔
I got a livestream tomorrow and I’ll go in depth about it!
@@FIREPsyChat Excellent thanks. I set a notification for both your upcoming videos.
It is important to know your numbers. Today they are saying you need $1.5 million. Every 24 years the cost of everything doubles based on a 3% inflation rate. So if you plan on retiring in 24 years you will need $3 million. Of course what you need may be different than average (more or less). So if you are 25 most likely a million will not be enough to retire on at 65.
At the rate the government and the Fed are destroying the value of the Fiat currency, all bets are out the window.
Expect the currency to be worth half in 7 years, not 24.
Good luck y'all.
Thanks as always for your content.
What about the “lost decade”? How much cash do we need for another scenario like that? I’m retired and still thinking about 2000-2009,
Whatever the number is, you would need to double it to account for Capital Gains / Taxes.
Well learnt something new, I was wondering how to manage downturns, and having cash reserves makes sense. We will base our income stream on dividends as its advantageous tax wise for the Australian stock exchange.
I can convert the emergency fund in retirement, so we aren't wasting potential.
Oorah and semper fi ❤
I never want to retire. The feeling of investing and letting that sucker grow is amazing. It’s like chasing a wealth rush.