28: How To Retire Early (Calculating Your FIRE Number)

<p>🎙 In this episode I give you a behind the scenes look at my FIRE number calculation and my expected early retirement age. I’m covering all the variables and assumptions that you need to calculate your own path to FIRE. Early retirement isn’t just for the super rich. If I can plan for it, you can plan for it too. But it’s super important that your FIRE number calculation and early retirement age are realistic. Otherwise, you run the risk of falling short and running out of money. And what you hear on the internet about multiplying your expense by 25 or increasing your savings rate isn’t always the best advice. So, how do you do a FIRE number calculation properly? 🤔</p> <p><strong>This episode discusses topics like:</strong></p> <p>🌟 Why rules like the 4% rule and 25x rules are often misguiding investors when planning for early retirement;</p> <p>🌟 How to calculate how much money you need for retirement and be sure that you won’t run out of money; and</p> <p>🌟 What it takes to be able to retire early.</p> <p><strong>Links from this episode:</strong></p> <p>Episode transcript and show notes: <a href= "https://www.papermoneyco.com/gof28">https://www.papermoneyco.com/gof28</a></p> <p>Get your FREE Investing Starter Guide: <a href= "https://www.papermoneyco.com/startinvesting">https://www.papermoneyco.com/startinvesting</a></p> <p>Does the 4% Rule Really Work? <a href= "https://www.papermoneyco.com/gof23">https://www.papermoneyco.com/gof23</a></p> <p>How to Get Rich While You Sleep: <a href= "https://www.papermoneyco.com/gof25">https://www.papermoneyco.com/gof25</a></p> <p>How to Calculate Your Savings Rate: <a href= "https://www.papermoneyco.com/gof19">https://www.papermoneyco.com/gof19</a></p> <p><strong>Time codes:</strong></p> <p>00:00 Hello and Welcome!</p> <p>04:57 FIRE Calculation Assumptions</p> <p>14:20 Sponsor - FIRE and Investment Calculator Spreadsheet</p> <p>16:15 Portfolio Growth</p> <p>20:45 Other Assumptions</p> <p>22:42 FIRE and Investment Calculator Spreadsheet Video</p> <p>24:31 Next Weeks’ Episod