GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you could read more about oureditorial guidelinesand our products and servicesreview methodology.
Are you gearing up to leave the workforce, as well?
Most commonly, the FI number is based upon the safe withdrawal rate of 4%.
Proponents of the FIRE movement believe in drastically reducing their expenses while trying to save money and prioritize investing.
So, if you have $40,000 per year of expenses, your number will be $1 million.
This is the rough math; you may need to adjust your financial plan based on your desired lifestyle.
Zigmont elaborated on this strategy for quitting your job early.
Ferrari added, Again, the specific amount will vary based on geography, intended lifestyle and investment strategy.
As always, there isnt usually a simple solution for quitting your job.
More From GOBankingRates
Share This Article:
The Latest inInvesting
