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Achieving Financial Independence and Early Retirement - TikTok
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You say you hate your job and you want to quit. But do you know how much money it takes to actually be able to quit corporate forever? By the way, if you're new here, I'm working on a bottom, the CEO of Plabody and Affertech and this is the wealth code series. Let's talk about early retirement and how much it actually costs. Okay, so there's this concept called fire, which is called financial independence, retire early. And fire is basically the number that you need to hit so that you can retire early. It's really simple. You take your annual expenses, you multiply it by 25. And that is the number that you need in order to be able to retire. Here's the thing. Our parent retot that retirement is an age, 65, 67, whatever number the government decides that it is. But actually, it's a number of assets invested because with a safe withdrawal rate of about 4%, you can assume that your investments are going to grow 7 to 10%. So you still always have a safety net of money that you can withdraw at a 4% withdrawal rate, which is the money you live off of and keeping money in the market, keeping money in places that are going to grow and appreciate so that you can protect yourself over time. And that is a simple explanation of how you find the number so that you can retire early. And that, my friends, is the number that you want to start working towards today.