Your Savings Rate: The Primary Driver Of Your FI Journey The FI Planner podcast

Your Savings Rate: The Primary Driver of Your FI Journey

3y ago 35:59

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Το περιεχόμενο παρέχεται από το Ben Martinek CFP ®, EA, CSLP®, RICP®, Ben Martinek CFP ®, and EA. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Ben Martinek CFP ®, EA, CSLP®, RICP®, Ben Martinek CFP ®, and EA ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.

Doesn’t it sound awesome to be financially independent, have enough money saved, and be able to live the life you’ve always wanted? Many people feel like this is a pipe dream or something they might get to experience in their 60s.

However, the FI movement is all about enjoying this kind of freedom and choice now, in your 30s or 40s. This week, Ben and Andrew delve into the primary ways you can make this a reality for yourself and why they believe entrepreneurship is such an accelerating factor in this journey.

They also address Mr. Money Mustaches’ 2012 article, The Shockingly Simple Math Behind Early Retirement (linked below), emphasizing how surprisingly easy it is to retire early by increasing the percentage of your take-home pay that you save (and invest) instead of spend.

In this episode, listen for

A discussion on whether saving 50% of your income is reasonable or sustainable
Tying your financial independence goals and debt control together
How entrepreneurship can provide time freedom and control over your schedule as you pursue FI so you don’t get burned out by the daily grind

Andrew poses several questions you may want to ask yourself, including:

How much can you save?

How many years earlier will that help you retire?

Is that going to be a sustainable savings rate?

Read all the show notes, get the resources discussed, and follow our FI Entrepreneurship journey at https://bonafidefinance.com/

Mr. Money Mustache’s 2012 article that Ben highly recommends:

https://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/

Jacob Lund Fisker’s book that inspired the FI Movement: https://www.amazon.com/Jacob-Lund-Fisker/e/B0049I0MOI/ref=dp_byline_cont_pop_book_1

More on the 4% rule that Ben teased about:

https://en.wikipedia.org/wiki/William_Bengen

https://www.forbes.com/advisor/investing/is-4-four-percent-rule-still-valid/

Bona Fide Finance:

Website: https://bonafidefinance.com/

LinkedIn: https://www.linkedin.com/company/bonafidefinance

Facebook: https://www.facebook.com/BonaFideFinancialPlanning/

Fb Profile: https://www.facebook.com/profile.php?id=100069532276726

Student Loan Tax Experts:

Website: https://studentloantaxexperts.com

LinkedIn: https://www.linkedin.com/company/student-loan-tax-experts/

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