28: How To Retire Early (Calculating Your FIRE Number)
Girl on FIRE
English - July 11, 2021 20:00 - 26 minutes - 12.7 MB - ★★★★★ - 37 ratingsBusiness Education Self-Improvement budgeting etf expenses babysteps budget budgetwithme calculator cashenvelope daveramsey debtfree Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
🎙 In this episode I give you a behind the scenes look at my FIRE number calculation and my expected early retirement age. I’m covering all the variables and assumptions that you need to calculate your own path to FIRE. Early retirement isn’t just for the super rich. If I can plan for it, you can plan for it too. But it’s super important that your FIRE number calculation and early retirement age are realistic. Otherwise, you run the risk of falling short and running out of money. And what you hear on the internet about multiplying your expense by 25 or increasing your savings rate isn’t always the best advice. So, how do you do a FIRE number calculation properly? 🤔
This episode discusses topics like:
🌟 Why rules like the 4% rule and 25x rules are often misguiding investors when planning for early retirement;
🌟 How to calculate how much money you need for retirement and be sure that you won’t run out of money; and
🌟 What it takes to be able to retire early.
Links from this episode:
Episode transcript and show notes: https://www.papermoneyco.com/gof28
Get your FREE Investing Starter Guide: https://www.papermoneyco.com/startinvesting
Does the 4% Rule Really Work? https://www.papermoneyco.com/gof23
How to Get Rich While You Sleep: https://www.papermoneyco.com/gof25
How to Calculate Your Savings Rate: https://www.papermoneyco.com/gof19
Time codes:
00:00 Hello and Welcome!
04:57 FIRE Calculation Assumptions
14:20 Sponsor - FIRE and Investment Calculator Spreadsheet
16:15 Portfolio Growth
20:45 Other Assumptions
22:42 FIRE and Investment Calculator Spreadsheet Video
24:31 Next Weeks’ Episode
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The advice shared on Girl on FIRE is general in nature and does not constitute financial advice. The information shared does not consider your individual circumstances. Girl on FIRE exists purely for educational purposes and should not be relied upon to make an investment or financial decision.