What Is Your FI Number – How Much Money Do You Need
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Do you want to know your Financial Independence (FI) number? How much $$ you need to retire early?
Let's dive in!
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Your FI number is the exact amount of net worth you need to be financially independent.
Learn more on how to compute your
FI number.
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2 things to consider when calculating your FI number:
1. Looking at your future expenses.
2. Looking at your current expenses.
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Your
safe withdrawal rate
(mostly 4%), together with your expenses, is the input for your financial independence number
.
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FI number = your yearly expenses / safe withdrawal rate.
Example:
$24,000 per year / 4% safe withdrawal rate
= $600,000
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If you want to retire early, keep in mind:
the less you can spend on living, the faster you’ll be financially free.
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Most of us are dreaming of having financial independence and retire early.
Read more to know more about your FI number.
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