The Great Escape: Early Retirement Across America
2 min read
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Quitting that 9 to 5 grind is possible, but only if you really want to.
Ever find yourself daydreaming about quitting that 9 to 5 grind and sipping lemonade on the porch?
Well, you’re not alone. There’s a whole movement called FIRE, or “Financial Independence Retire Early” where folks are working hard now to play harder later. But before you hang up your work boots, let’s chew over what you’ll need to make that dream a reality.
What is the Retire Early Movement?
The Financial Independence Retire Early movement is all about financial independence and leaving the workforce long before the traditional age of 65. The idea is to save and invest aggressively while you’re young, so you can live off your nest egg for the rest of your days. Sounds sweet, right? But the big question is: how much do you really need?
Crunching the Numbers with Monte Carlo Modeling
Now, I ain’t talkin’ about gamblin’ in Monte Carlo. Monte Carlo modeling is a fancy way to predict how long your money will last. It takes into account different scenarios like market crashes and unexpected expenses. So, let’s break it down by age groups and see what you’ll need to stash away to retire early in various parts of this…
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