There are some great things you can take from the FIRE movement without going to extremes. For
Question:
There are some great things you can take from the FIRE movement without going to extremes. For this assignment, please calculate your FIRE number and estimate your savings rate if you wanted to retire early vs. later in life:
1) Estimate your total annual expenses if you were to retire early (this could be your current expense rate in your budget or perhaps you're willing to live on your doomsday budget in order to retire very early)?
2) Calculate your FIRE number: using the 4% rule, Calculate how much you need at the start of your early retirement so you won't run out of money?
3) Make a savings plan to achieve your FIRE number: If you wanted to retire at 40, how much would you need to save every year to achieve your nest egg assuming a 4% real interest rate? If you wanted to retire at 70? How much would you need to save every year to achieve your nest egg assuming a 4% real interest rate?
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill