This is the number one difference between people who retire early and those who wait until social security, people who retire early know and learn how to invest.
When I first did the math on compound interest I was floored. The idea that I'd make more money during retirement than during my working years seemed counterintuitive, but the numbers were right there.
There are only 2 ways you can affect this number:
- Make more money
- Spend less money
That's really all that it comes down to. The savings rate calculation we looked at is based entirely on these two numbers (spending/savings). The less you need, the less you'll need to save. Lowering expenses and earning money in retirement are two very clear ways to reduce the time until you are financially independent. Making more money and spending less while investing is the key to achieving financial independence sooner.
The art is not in making money, but in keeping it.
The fastest way often means removing excess from your life that isn't increasing happiness in proportion to the amount spent. Beyond that, it's about understanding how much you need to save to live the life you want and making a plan for it.
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