Financial freedom lets you do what you want, when you want, and how you want. FIRE (Financial Independence/Retire Early) is the dream that you can take advantage of this sooner! So, how has 2020 affected the FIRE movement?
We pull out the big guns and run some example Monte Carlo simulations in real time with software we use for our financial planning clients!
It’s a numbers-driven deep dive on retiring early. Answering questions like:
- How much do you need to save?
- What factors do you need to stress test?
- Is it actually possible?
In this episode, you’ll learn:
- Crucial factors to consider when planning retirement (at any age)
- Real FIRE calculations for an average American couple
- Case studies showing the importance of stress testing your retirement plan
- How a Monte Carlo simulation works
Research and resources from this episode:
- 42-year-old millionaire: I tried to retire early at 34—but failed. Here’s what went wrong (CNBC)
- Income Percentile by Age Calculator for the United States in 2020 (DQYDJ)
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