Want to retire early? Here’s how to find your FIRE number. 🔥
The Financial Independence, Retire Early (FIRE) strategy is based on research showing that with the right investments, you can retire and live off your portfolio for 30+ years without running out of money.
Here’s the simple formula:
1️⃣ Calculate your monthly expenses
2️⃣ Multiply by 12 to get annual expenses
3️⃣ Multiply that by 25. This is your FIRE number
Example: If you need $70K per year, you’ll need $1.7M invested to retire.
Once you hit that number, work becomes optional. Withdraw 4% annually, and with an 8% average return, your money lasts forever.
Getting there takes strategy, but it’s possible. If you want to start building wealth today, follow me for more smart money moves!
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