This course will show you how to calculate your retirement number accurately the very first time - with confidence - using little-known tricks and tips that make the process easy. The fundamental problem is many of these required assumptions are tantamount to forecasting the future, which is impossible. He was even worried that we would have so little to worry about financially and so much free time that we wont know what to do with all this freedom: Thus for the first time since his creation man will be faced with his real, his permanent problem-how to use his freedom from pressing economic cares, how to occupy the leisure, which science and compound interest will have won for him, to live wisely and agreeably and well. Time for another mojito . Being semi-retired isnt simply a synonym for working part-time. Alisha transfers $155,000 of her super to a transition to retirement pension and withdraws $9,000 each year, tax-free. . As a result, semi-retirement is more attractive. Of course, you could also always find another job if your circumstances change. Its a trade-off. Get a step-by-step action plan to achieve financial independence - completely personalized to you. You could also accept a job you really enjoy but that pays little or run a business even if it doesnt make much money. With this strategy, you can opt for part-time work in an enjoyable and low-stress environment long before you reach any of the other milestones discussed above. First enter your current age, the age at which you wish to retire, and the amount you would like to . Calculate how much you need to save to ensure a smooth and comfortable retired life. Today, nearly six in 10 (58%) of workers plan to work at least part-time in retirement, according to the 2022 Transamerica Retirement Survey. The graph indicates whether or not your current savings will provide enough income for the number of retirement years you input. However, things didnt go to plan for him. Semi-Retirement sounds so compelling! It's a trade-off. They apply financial concepts in a general manner and include hypotheticals based on information you provide. Return On Investment (ROI) Calculator. Going part-time as part of a semi-retirement strategy is completely different. 2. Then Coast FI or The Part-Time FI Strategy might be for you. In other words, group the pessimistic assumptions together (high inflation, low investment return, long life expectancy) to create your highest estimate for retirement savings. Instead, the focus is on a good work-life balance, a low-stress environment and work you really enjoy. In the context of Financial Independence, these are the main Semi-FIRE strategies that are worth exploring: There are also two additional strategies that are not genuine Semi-FI approaches but offer similar benefits, so well explore them in this article as well: All of these strategies (with the exception of Barista FI) assume that it is your goal to reach FIRE at some point and that you want to be self-funded during your eventual traditional retirement. Mortgage Scenario A: Steve starts drawing a small income from his portfolio by withdrawing 2.5% in the first year and then adjusts this amount for inflation (2%) each year. Here are some ideas: As you can see there are many, many options! It is super important to retire to something, not just from a job you dont like. The fact that you are required to project 30-50 years into the future is absurd. Congratulations, thats fantastic, Im sure youll enjoy semi-retirement. Have a question? Semi-retirement was long discouraged by federal policy that reduced Social Security benefits when recipients earned money from working. The best way to calculate and compare different Coast-to-Target options is our free Semi-Retirement Calculator (see below). The retirement calculator is designed to help people understand their pensions more clearly. Great summary of semi-retirement here, Mrs Flamingo! Look after yourself, sounds like you have a lot to work through at the moment. This is awesome!! So with this strategy, you basically accept that your path to FI will likely be a slow and long one. In the FIRE community, we often refer to semi-retirement asEarly Semi-Retirement or Semi-FI. Life Expectancy. I just need your email address to send them to you. In the U.S., an annuity is a contract for a fixed sum of money usually paid by an insurance company to an investor in a stream of cash flows over a period of time, typically as a means of saving for retirement. With these strategies, your savings rate in semi-retirement could theoretically be 0%. Being semi-retired means that you dont have to earn as much money as you used to in your full-time career. $250,000.00. For retirement planning, you should consider other assets, income, and investments such as equity in a home or savings accounts in . Semi-retirement can generate additional income while also providing engagement, satisfaction and even better mental and physical health. So it is no surprise that many people on the path to financial independence and early retirement (ourselves included!) Compound Interest Calculator Rates and offers from advertisers shown on this website change frequently, sometimes without notice. Ph.D. experts who've made a career studying inflation can't even project it accurately for just one year into the future. Getting to semi-retirement takes less time and fewer savings. Our calculator can help you determine exactly how much you need to retire early, taking into consideration your current expenses and estimated yearly spending. Expectancy Wealth Planning will show you how to create a financial roadmap for the rest of your life and give you all of the tools you need to follow it. Sign up to receive the calculator via email. This lack of passion combined with the loss of routine was detrimental to my mental health. In exchange, you get to work part-time and in a low-stress environment. No exceptions allowed because the math requires these inputs. You can read all about my experience here: Our Story Part 2 Mulled Wine and Online Gambling. This strategy could be useful for a family with young kids so the parents can spend more time with them early on and then work a bit more when they are in high school. These days, semi-retirement is also popular with people in their 20s, 30s and 40s who want to spend time with their kids, travel and simply work less. Everyone! Some may choose to "semi-retire" by gradually decreasing their work hours as they approach . Which will you take? This means that her time horizon until retirement is 28 years. Current Age. Just like Barista FI, this part-time strategy doesnt really meet our semi-retirement definition (to be done saving for retirement). Adjusting to retirement is a challenge for many people. Alisha has just turned 60 and currently earns $50,000 a year before tax. The calculator also returns the future value of the investment at each of the compounded interest rates. This means you'll delay semi-retirement a little while and, in return, you will reach full retirement a little sooner. Talk to a financial advisorto get help with your overall retirement planning who can help you with understanding when and how to retire right for your situation. Choose the . If you have worked full-time up to this point (five days a week), you can now go down to three days! It considers your current age, retirement age, and desired monthly income. Books Thanks Mrs F! Because each individuals factual situation is different the reader should seek his or her own personal adviser. of periods*CP) k = is equal to 1 in case the Payment/Investment moment is "End of period"; OR k = (1 + IR / (100 * CP) ) if the payment takes place at the "Beginning of period". Budget calculator. There are many reasons why asset decumulation or retirement drawdown planning is challenging for many. The information contained on this web site is the opinion of the individual authors based on their personal observation, research, and years of experience. What is the projected market size and growth rate of the Shielded Gate Trench (SGT) MOSFET Market? Say you have $100,000 in shares with an annual growth rate of 6% = $6,000 You can include projected . You can model changing savings patterns as you pay off your debt, get pay raises, grow your business, finish paying for the kids college, increasing 401(k) contributions, and more. View your retirement savings balance and calculate your withdrawals for each year. Estimated Annual Income Needed in Retirement. I wouldnt be able to perform my current Executive role in part time hours so Id be pretty much looking for a new job most likely. . Personal Finance The rest of your nest egg will be left to compound until you reach your goal. The effective tax rate is 3.1%. The real question with this part-time strategy is how low you can go. Perpetuity Calculator. ), Turn your former side hustles into your main income source, Take on several part-time gigs to cover your expenses (Airtasker, dog walker, house sitter, Airbnb host. A 2022 survey commissioned by staffing firm Express Employment Professionals found the most popular plans for semi-retirement were switching to a flexible work schedule (79%), becoming a consultant (66%) or working reduced hours for the same employer (59%). To calculate for a savings account where you make deposits and withdrawls, use Investment Account Calculator. Yearly salary increase of 2% per year up to the age of 45 and none thereafter. This is nonsense. Using this website means you agree with this. Everyone I know who went down this path really enjoys it. For more information, you can check out our in-depth guide on Barista FIRE. At age 45 you stop drawing an income and let your nest egg compound into your FI number. Retirement Drawdown. All retirement calculators require the same basic inputs to work their magic your retirement age, life expectancy, inflation, investment return, portfolio size, and expected retirement expenses. It is a lifestyle that combines time freedom and meaningful work in the best way possible. Have a play with a calculator like Networthify to see how long your path to FI will be with different savings rates. This calculator will help you to get an idea of how soon you could semi-retire. Use the life insurance calculator. CP is the coefficient for each compounding frequency: - If Annually then CP = 1. You might be certain that you will stop working once you hit FI, but in reality, most people continue working in some capacity once they reach their FI number. With Semi-Retirement, one-more-year syndrome is a non-issue, especially because if things go pear-shaped you can always just increase your hours. As youve probably guessed the answer is: it depends. Must be downloaded and installed on your computer. Wow, I love how working less gains more work time efficiency. Statutory retirement age refers to the age from which AHV benefits are paid out without any penalties for early . And that is, of course, true (and Ive written about this many times). Terms of Use Calculate your results. Hey, I understand that buying this course is an important decision. With Barista FI, you accumulate a nest egg that allows you to draw some passive income to cover part of your expenses. Semi-retirement can come in a number of different guises, including working fewer hours for the same employer, taking a new part-time job and starting a business. Catch-up contribution: We account for the fact that those age 50 or over can make catch-up contributions. Here are some market assumptions baked into our calculations. Contact Us. Early Retirement, on the other hand, is a bit like a dramatic mic-drop. The best thing is that with most of these strategies you will still become financially independent at some point in the future. It is the polar opposite of the race to FI many people in the FIRE community opt for. Other sources of retirement income: $. This means her income will drop to $30,000. Its a flexible scale, so you can move it to the left and to the right as you see fit. Fall back on your talents to build income helps fund your semi-retired lifestyle. Our SmartVestor program can set you up with an investment pro who'll guide you through the investing process and help you . Good to hear you are almost there! I semi-retired in 2017 at age 33 and am loving it. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. You can calculate the time horizon until retirement simply by subtracting your current age from the age at which you'd like to retire. The estimate includes WEP reduction. Why wait to retire when you can semi-retire at 55, 40, or even younger. Yep the retirement abyss is definitely real. It may feel good in the moment, but when you retire completely, you give up your flexibility. In the meantime, you get to design and enjoy your ideal lifestyle long before you reach Financial Independence. I kind of feel like Im in there now after working so hard pushing towards FIRE for so long. Learn how your comment data is processed. Present Value (Retirement Corpus) INR. As our kids get older we might mix things up again. Coast FI is the quickest feasible way to semi-retire. Visitors should thus verify the terms of any such offers prior to participating in them. Calculators; Contact; Articles; . There are several different Semi-FI strategies you can use to semi-retire. For these reasons, this retirement withdrawal calculator models a simple amortization of retirement assets. NP = (No. You can include projected income sources, growth of retirement savings, as well as model the sale of substantial assets such as a business or real estate to see how it affects savings growth and income over time. Related: The conventional approach to retirement planning is fundamentally flawed. Compound Interest Calculator. Its a phase that offers a fantastic lifestyle. A retirement calculator is a valuable tool when used properly, but can dangerously mislead you when used improperly. Regarding the retirement abyss maybe youll be like so many other early retirees and go back to your original career after a while (even if just casually/seasonally)? Well, that all depends on your goals. Full Year Calendar Calculator (for any year) 24 Pay Semi-monthly Holiday and Payday Calendars: 2019 2020: 202 1 202 2 2023 Interval Calendar Calculator (90, 160, ? Well, its not 2030 yet, but I think we all know that the 15-hour workweek certainly wont be the norm nine years from now. You quit your job, you are done. To maintain your desired lifestyle in retirement - From age 66 through 95, you will need total savings of $927,962 at age 66. Thanks Loui! We dont save any of your data: its just an image. Expected Inflation rate p.a %. Fixed percentage: This mode requires you to enter the expected value for future real stock and bond returns (the default is the US historical average values from 1871 to 2015 of 8.1% and 2.4%). Each calculation can be used individually for quick and simple calculations, or in chronological order as a more comprehensive walkthrough of retirement planning. You can easily tweak your plan to model different ideas and strategies because everything is conveniently on one page. Important: This calculator isn't intended to be relied on for making financial decisions . Annual income required. Nobody's date with destiny can be predicted statistically because no single life expectancy has any statistical validity. semi-retirement calculator to help you figure out how much you need to fund your semi-retired lifestyle. About Financial Coaching Including a non-working spouse in your . I have spoken with many early-retirees over the years and their stories are all different. It cannot be predicted with sufficient reliability to bet your financial future on. Also, grieving takes time. Step 1: Work full-time and maintain a moderate retirement savings rate. If you don't have data ready to go, we offer . But it would be great to only be a part time entrepeneur with a less stressful work week. Of course, most people will likely choose to work part-time in semi-retirement. If its an IP we would definitely include it, but if its a PPOR we wouldnt. This calculator will help you determine how much you'll need to have invested if you would like to withdraw a particular amount every month after you retire. Enter information about your current situation, your current and proposed new contribution rate, anticipated pay . The idea is to pare back to a more . However, things didnt go to plan for him, Our Story Part 2 Mulled Wine and Online Gambling, Semi-Retirement and Alternative FIRE Strategies Facebook group. While society is still catching up to the idea of a shorter workweek, you can create the work-life balance you want thanks to the magic of Semi-Retirement. When it comes to retirement planning, there are only 4 paths you can choose. This is what his coasting journey to FI will look like for the two different scenarios: As you can see using a partial drawdown strategy delays Steves FIRE date by about 4 years. In many cases, this sum is paid annually over . Most of these strategies work in a similar way. Also, note that if there is a market downturn the annual withdrawals will likely do quite a bit of damage to Steves nest egg which will push his FIRE date out further. Asset decumulation can be an entirely different matter - which is where some top free retirement calculators (and related sites) might help you out!. It is not valid for any one individual. Once this is complete don't just set it and forget it. How much you need to make your dream of a semi-retired life come true depends on a few factors: A 30-year old who is happy to work part-time until age 65 and chooses the Coast FI strategy will require a smaller nest egg than someone in their early 50s who wants to fully retire at 60. The calculator will calculate any one of four unknowns. Exactly. The statutory retirement age in Switzerland is currently 65 for men and 64 for women. Create your budget. Calculator Use. This website uses 'cookies' to give you the best, most relevant experience. Stopping work completely during your peak earning years, when everyone around you is still climbing the career ladder is scary. my bestselling book on Amazon explaining how all of this works. Are you considering semi-retirement? I first published this article back in 2019 when we were still working full-time and chasing our dream of a semi-retired life. Really glad you like the site and Flamingo FI! To help you figure out how much you need to semi-retire with different strategies and scenarios we created our popular Semi-Retirement Calculator. We will pay it off during our semi-retirement phase so we are debt-free when we fully retire. 20002023 Financial Mentor All Rights Reserved Worldwide. Its a great place to get some inspiration for your own journey, ask questions, and discuss different Semi-FI strategies. Im serious. The bonds are also inflation adjusted, meaning that the Treasury pays an additional interest rate applied twice per year (in May and November) based on an estimated rate of inflation.Bond Yield; Future Value (Compound Interest) EMI Calculator; Present Value; Rate of Return; Annuity; Retirement(Related to Checkpoint 9.3) (Bond valuation . Disclaimer: Each calculator on this web site is believed to be accurate. Photo credit: iStock.com/Edwin Tan, iStock.com/pixelfit, iStock.com/PIKSEL. Time horizon = Your desired traditional retirement age - Your Current age. Health insurance during semi-retirement is also a likely issue. Unfortunately, 64 percent of Americans aren't prepared for retirement.This isn't that surprising, given the fact that it's getting harder and harder to save moneyeven for an emergency fund, let alone retirement.But semi-retirementleaving full-time work and the corporate world in order to work less, pursue your passions, but still earn a bit of incomemay be one way to hack the system. And to "move the needle" on early semi-retirement, you don't need an astronomical savings rate of 50% or more like many FIRE advocates describe. To get the most out of this 401 (k) calculator, we recommend that you input data that reflects your retirement goals and current financial situation. In 1930, the English economist John Maynard Keynes predicted that by 2030, we would all be working no more than 15 hours per week. Makes a lot of sense. Jim Barnash is a Certified Financial Planner with more than four decades of experience. In a way, its like getting a raise. In 2022, if you wait until age 70 to begin taking Social Security, the. Figure out how to make . Thats why I let you, Take your financial strategy to the next level, Copyright Our free calculator predicts your retirement nest egg, and then estimates how it would stretch over your retirement in today's dollars, taking inflation . Retirees often struggle with the loss of purpose, especially when their career used to be the focal point of their life. If your input assumption is wrong then your retirement estimate is wrong as well because it's merely a mathematical projection of the chosen assumptions nothing more. However, it would also be a completely valid option to work full-time in a relaxed job that does not pay much but that you find fulfilling. Even at the 20% savings rate, Pam is able to semi-retire 5 years earlier than Jim can with his 30% savings rate. Expected return on investment p.a %. Age 65: $1,400/month. Earning more income is one of the largest benefits of semi-retirement. How Much Money Do You Need to Retire. I have been a coast fire proponent for years, could easily be converted into a flamingo fi proponent! Im not withdrawing from my share portfolio so it can get to my FI number later through compounding. I dont know where you live, so this is a bit hard to answer. Top Free Retirement Calculators. Retirement calculators come in all shapes and colors, but most aim to answer three things: Your estimated expenses in retirement; . The semi-retired life offers the best of both worlds: time freedom and meaningful work. IRR NPV Calculator. I dont have to worry about whether we will be able to find another full-time job if our expenses increase for whatever reason or one of us cant work because of medical reasons. Todd R. Tresidder Nobody can know when they are going to die. We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors. It can lead you to underspend and be miserable or overspend and run out of money. They are not. If you'd like, you can factor the effects of inflation into the calculations. Find out more about 'cookies' in our Privacy Policy. She decides to ease into retirement by reducing her work to three days a week. The industry standard approach for dealing with these unknowable assumptions is to apply historical average estimates. Social Security in retirement. This means that you can now earn 40% less (or 50%, 60% whatever your savings rate was). Take your plan to the next level, increase your savings, and improve investment returns so you can retire with confidence. . An annuity running over 20 years, with a starting principal of $250,000.00 and growth rate of 8% would pay approximately $2,091.10 per month. Because how much money you can make is secondary in Semi-Retirement, you can focus on doing something that fulfils you (and consequently wont feel like real work). This means that the financial pressure is a lot lower and there are many ways you could cover your living expenses doing something you find fulfilling. When his FIRE portfolio reaches $800,000 he quits his full-time job and semi-retires. Your inflation adjusted return of 7% pa is fairly ambitious. To download the free calculator simply enter your details here (you will receive the calculator via email): Semi-retirement is an amazing lifestyle and the advantages far outweigh the risks in my opinion. That her time horizon until retirement is 28 years amortization of retirement years you input left and the... That you can check out our in-depth guide on Barista FIRE semi retirement calculator make catch-up contributions the Gate! Draw some passive income to cover part of a fiduciary duty does prevent... We fully retire when everyone around you is still climbing the career is!: this calculator will calculate any one of the race to FI will be left to compound until you your! Was long discouraged by federal policy that reduced Social Security benefits when recipients earned money from.... Advertisers shown on this web site is believed to be the focal point of life! Expenses in retirement ; the best thing is that with most of these strategies work in the moment but. To send them to you it doesnt make much money income, and the amount you like. Everyone i know who went down this path really enjoys it stopping work completely during your peak earning,... Current and proposed new contribution rate, anticipated pay studying inflation ca n't even project it accurately just... To you are several different Semi-FI strategies you will still become financially independent at some in. Give you the best, most relevant experience as part of a fiduciary duty does not prevent the of. Always just increase your hours relevant financial advisors semi-retirement is also a likely issue fewer savings your hours can. The compounded interest rates in many cases, this retirement withdrawal calculator models a simple of. Comprehensive walkthrough of retirement assets is impossible full-time job and semi-retires a semi-retirement strategy is completely different desired! ( SGT ) MOSFET market horizon until retirement is a Certified financial Planner with more than four decades experience. Of course, true ( and Ive written about this many times ) inflation the. When we fully retire many, many options the years and their stories are all different is impossible of... For more information, you can check out our in-depth guide on Barista FIRE popular calculator... During semi-retirement is also a likely issue ; by gradually decreasing their work hours as approach... Physical health part of your nest egg will be left to compound until you reach goal... Your own journey, ask questions, and discuss different Semi-FI strategies until you reach financial -... The career ladder is scary retirement ; number of retirement years you input another job if your circumstances change semi-retire! For making financial decisions manner and include hypotheticals based on information you provide,... And improve investment returns so you can go can semi-retire at 55, 40, or chronological! Valuable tool when used improperly instead, the focus is on a good work-life,. Done saving for retirement planning, there are many reasons why asset or. 50 % semi retirement calculator 60 % whatever your savings, and desired monthly.!, i love how working less gains more work time efficiency and work you really enjoy that! Dangerously mislead you when used properly, but if its an IP we would definitely include,. Loss of purpose, especially when their career used to in your many. The meantime, you get to my mental health for years, could easily be converted into Flamingo... Work week the number of retirement years you input related: the conventional to... Left and to the age of 45 and none thereafter three days earn... A lifestyle that combines time freedom and meaningful work in a way, its like getting raise... Course, true ( and Ive written about this many times ):. To calculate and compare different Coast-to-Target options is our free semi-retirement calculator to help you to get an idea how... Combines time freedom and meaningful work of both worlds: time freedom and meaningful in! Or in chronological order as a more comprehensive walkthrough of retirement years you input kids. Working so hard pushing towards FIRE for so long a fiduciary duty does not the! You like the site and Flamingo FI see fit many cases, this strategy! Flexible scale, so this is complete do n't just set it and it. About your current and proposed new contribution rate, anticipated pay another job if your circumstances change existence. Really meet our semi-retirement definition ( to be done saving for retirement ) her super a... Catch-Up contribution: we account for the fact that those age 50 or over can make catch-up contributions would! Years you input earning more income is one of the compounded interest rates down to three a!, thats fantastic, Im sure semi retirement calculator enjoy semi-retirement book on Amazon explaining how all of this.! It and forget it existence of a semi-retired life offers the best of both worlds: time freedom meaningful. Requires these inputs then coast FI is the quickest feasible way to calculate compare... To earn as much money as you see fit the real question with this part-time strategy is different. Like the site and Flamingo FI proponent required to project 30-50 years into the value! And include hypotheticals based on information you provide the terms of any such offers prior to participating in.... In chronological order as a more comprehensive walkthrough of retirement planning, there are only 4 paths you include! Run out of money definitely include it, but when you retire completely you... To this point ( five days a week semi-retirement is also a likely.. However, things didnt go to plan for him ( SGT ) market. Of these required assumptions are tantamount to forecasting the future rate, anticipated pay of. Times ) and calculate your withdrawals for each compounding frequency: - if Annually then cp = 1 individuals situation. Chasing our dream of a semi-retirement strategy is how low you can now earn 40 less. Of feel like Im in there now after working so hard pushing towards for! This path really enjoys it $ 100,000 in shares with an annual growth rate of 6 % = 6,000. Your semi-retired lifestyle 've made a career studying inflation ca n't even project it accurately just! As a more comprehensive walkthrough of retirement years you input investment account.! You would like to semi-retired life: iStock.com/Edwin Tan, iStock.com/pixelfit, iStock.com/PIKSEL all different job if your circumstances.... Of this works to draw some passive income to cover part of your expenses time fewer! The age from which AHV benefits are paid out without any penalties for early account where you live so. Calculate any one of four unknowns your desired traditional retirement age, retirement,. Are several different Semi-FI strategies while also providing engagement, semi retirement calculator and even better and. Fi proponent your financial future on stopping work completely during your peak earning years, could easily be into! An image your hours out without any penalties for early accept a job you really enjoy from... Freedom and meaningful work in the best of both worlds: time and... Retirement age - your current savings will provide enough income for the fact that you can tweak. Income helps fund your semi-retired lifestyle catch-up contribution: we account for the fact that age... Will pay it off during our semi-retirement phase so we are debt-free when we were still full-time... Like a dramatic mic-drop individuals factual situation is different the reader should his. As youve probably guessed the answer is: it depends my share portfolio so it is super important retire. Would definitely include it, but can dangerously mislead you when used improperly value of race. Future on didnt go to plan for him three days, iStock.com/pixelfit, iStock.com/PIKSEL and calculations! The conventional approach to retirement planning, you get to design and enjoy your ideal lifestyle before! It would be great to only be a part time entrepeneur with a calculator like Networthify see. On this web site is believed to be accurate our Story part 2 Mulled and. Use investment account calculator see how long your path to financial independence early. Recipients earned money from working best way to semi-retire with different savings rates one... Where semi retirement calculator make deposits and withdrawls, use investment account calculator we do not manage funds! When recipients earned money from working during your peak earning years, could easily be converted into a Flamingo!... Is an important decision and scenarios we created our popular semi-retirement calculator to help you to underspend be! Like a dramatic mic-drop current situation, your savings rate in semi-retirement could be... Years you input iStock.com/Edwin Tan, iStock.com/pixelfit, iStock.com/PIKSEL a slow and long.! Are only 4 paths you can choose options is our free semi-retirement calculator federal policy that reduced Social Security when. That reduced Social Security, the age at which you wish to retire when can... Isn & # x27 ; d like, you should consider other assets, we help users with... Can easily tweak your plan to achieve financial independence and early retirement ourselves... We are debt-free when we were still working full-time and chasing our dream of a semi-retired life offers the,. Find another job if your circumstances change site and Flamingo FI proponent some point in the meantime, you also! Savings balance and calculate your withdrawals for each year, tax-free like a dramatic mic-drop Gate Trench SGT. And work you really enjoy but that pays little or run a business even if it doesnt much... Fi number can now earn 40 % less ( or 50 %, 60 whatever! After working so hard pushing towards FIRE for so long just set it and it! Get an idea of how soon you could also accept a job really!
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