30: How to Reach FIRE Even Faster With a 401(K) / Superannuation

<p>🎙 The race to FIRE is a tough one. It takes years of dedication to investing and growing your portfolio before you reach financial independence and you can retire early. When you retire early, you need a bigger nest egg because you’ll be drawing income from your investments for decades longer than traditional retirement. And it takes decades to build a portfolio that’s large enough. But what if there was a way to speed up your journey? You might be able to reach FIRE even earlier by taking advantage of a program that’s sitting right under your nose… 🤔</p> <p><strong>This episode discusses topics like:</strong></p> <p>🌟 Why simple FIRE calculations on the internet fall short and leave you vulnerable to running out of money or having to go back to work;</p> <p>🌟 How FIRE works with an age-restricted retirement program like superannuation in Australia or 401 (K) in the US; and</p> <p>🌟 How much earlier you can retire using a phased approach to early retirement as opposed to the simple FIRE calculations out on the internet (the 25x rule).</p> <p><strong>Links from this episode:</strong></p> <p><img src= "https://assets.libsyn.com/secure/show/291209/9j4AAQSkZJRgABAQAASABIAAD4QSjRXhpZgAATU0AKgAAAAgABgESAAMAAAABAAEAAAEaAAUAAAABAAAAVgEbAAUAAAABAAAA-2.jpeg" alt="5 Phases" width="400" height="67" /></p> <p>Retirement Timeline Graphic: <a href= "https://bit.ly/3i1XkRB">https://bit.ly/3i1XkRB</a></p> <p>Episode transcript and show notes: <a href= "https://www.papermoneyco.com/gof30">https://www.papermoneyco.com/gof30</a></p> <p>Get your FREE Investing Starter Guide: <a href= "https://www.papermoneyco.com/startinvesting">https://www.papermoneyco.com/startinvesting</a></p> <p>Savings rate and investing rate: <a href= "https://www.papermoneyco.com/gof19">https://www.papermoneyco.com/gof19</a></p> <p>The 4% rule: <a href= "https://www.papermoneyco.com/gof23">https://www.papermoneyco.com/gof23</a></p> <p>Calculating your FIRE number: <a href= "https://www.papermoneyco.com/gof28">https://www.papermoneyco.com/gof28</a></p> <p><s