Retirement refers to the time in your life when you choose to permanently stop working. The traditional retirement age is 65 in the United States and most other developed countries.
Most countries, especially the United States have some kind of pension or benefits system to supplement your income. The United States has social security. However, in most places you won’t be able to survive on social security alone as it will most likely make up less than 75% of your previous income before retirement.
Your Guide to Retirement & Retiring Early
How Much Money to Retire?
The total amount of money someone needs to retire is different for everyone. However, it’s a basic mathematical equation and depends on a few variables: how much you make now and total expenses. Ideally your retirement income will be at least 25-30 times our monthly expenses at time of retirement.
Steps to Building Wealth
The steps to building wealth are pretty much the same for everyone, at any age. However, the older you are the less time you have to save for retirement. There are certain things you don’t want to do later on in life that you should do earlier, if you can. Our guide walks you through what you should be doing and watching out for as you move through life.
How to Retire Early?
The “FIRE” movement is a massive movement to be financially independent and being able to retire early. Many are lowering their expenses and paying off debts by living well below their means.