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Today's post and start optimizing. Your life. How to retire in under ten years by christina browning of our reach. Journeyed outcome. Are you on fire? I am referring to the acronym fire financial independence retire early and not the literal definition. I hope that goes without saying. If you're on fire again, referring to the acronym, Yea one of the best things about fire is the freedom. You have to spend more time with your family and friends to explore your hobbes to focus on your health to travel do whatever it is that you want to do a mine, and I You ve fire in eight years to you, earlier than we expected at the ages of thirty, wayne and forty one we quit our government jobs, retired and moved to Portugal. Most people are shocked when we tell the we retired, so young, even more people, are shocked.

we tell them. We were able to retire and less than ten years after devising or retirement plan in general, I think the shah, comes from a lack of understanding who really Their stance, how to retire in less than ten years anyways? Well, we do and it all begins with savings rates, the key to retiring in less than ten years is all about increasing your savings rates. Your savings is the amount of money you make minus the Of money you spend simple right even better. There are two tried and true methods for increasing you're savings rate. Number one make more money, while keeping your expenses the same and number two decreasing here, fences, thereby saving more technically, there's, also a third way making more and saving more. Whatever method you choose, the goal should be to crease your savings rate by as much as possible. When you do this, you can invest more and when you can emerge

smart, you can grow your wealth more if european is to grow your wealth in the stock market, which is what a man- and I did. You want to call your stock portfolio to twenty five times your annual expenses. This equation comes from the four percent raw. The four percent rule is all the talk in the fire community. The rule became popular from the trinity study, not familiar with the trinity study. Here's a quick break it's a study conducted by a group of finance professors at trinity university in texas. The study culture it'd retirement portfolio, success rates with various monthly, withdraw rate assumptions and various portfolio asset allocations. In other words, it looked up her folios that had a mix between stocks and bonds and it looked at different withdrawal rates at three percent have four per cent and five percent, and so on

and it looked at the success rate of people withdrawing that money and being able to withdraw that money through out a thirty year retirement. The success rate was he's done whether money remained in the investment portfolio throughout the life of the portfolio. Based on the numbers. The study concluded that someone with a return The portfolio of one hundred percent stocks could safely withdraw four percent from their investment account adjusted for inflation each year and not run out of money over the course of thirty years. This study also. a one hundred percent success rate for an investment portfolio that consisted of seventy five percent stocks and twenty five percent bonds with a withdrawal rate of four percent when a portfolio was more heavily weighted in bonds. This study concluded that the success rate for the portfolio decreased. So what does that? trinity study mean for you if you want to retire in less than ten years. Assuming you want to grow wealth in the stock market. It means you need, took

your stock portfolio to twenty five times your projected annual expenses and retirement, so that you can safely withdraw four percent from your portfolio, less work with some act: numbers to better illustrate my point: the average can finally makes sixty thousand dollars a year. Let's say that your projected annual expenses and We retirement or sixty thousand dollars, based on the four percent rule. You would need vestment portfolio of one point: five million were sixty thousand dollars times twenty five before you safely, retire with a high likelihood of never running out of money during retirement. This is because a story. The average stock market return, has been about eight percent. If you only pull four percent from your stock or folio, even adjusting for inflation about three percent, you would only be pulling the interest from your portfolio. In other words, you wouldn't have to touch your principle, balance mathematical, The four percent rule makes sense, but how can you grow up? Stop portfolio

twenty five times are projected annual expenses in retirement. It all goes back to a high. Savings rate and compound interest. Other illustration, with numbers. Let's look at two families: family, a and family, be both families makes sixty thousand dollars a year family, a the average american family making sixty grand a year, they spend the typical thirty percent and come on, housing. Twenty percent of their Come goes to food, ten percent goes to clothing, fifteen percent goes towards transportation, twelve percent goes to medical expenses, three percent is spent on entertainment and other expenses, and ten percent goes to savings. Five hundred dollars a month in total family, a spends ninety percent of its income and saves ten percent Let's assume that this families expected expenses and retirement remain the same. This means that this family would need one point: three five million dollars to retire with a monthly savings of five,

dollars invested at a return rate of eight percent. It would take this family more than fifty years to retire. Fifty years just sounds insert sad face a movie, but there is a better way. Let's look at family. A family be also make sixty grand a year, but family be house hacks, so they spend zero percent of their income on housing. They also eat out less, so they only spent ten percent of their income on food. They practice minimalism silly only spend three percent on clothing. They drive a used car, so they only spend five percent on transportation. their medical bills are the same as family. A twelve percent, but family be spends only three per, on entertainment. The big difference between these two families is that family be managed to save a whopping. Sixty seven percent three thousand three hunt

and fifty dollars each month in total family being spent thirty three percent of its income and saves sixty seven percent. Assuming that family bees expected expenses, a retirement remain the same. This means This family would need four hundred ninety four thousand dollars to retire with a monthly savings of three thousand three hundred. Fifty dollars invested at a return rate of eight percent, it would take this family less than ten years to retire less than ten years, it's possible maybe you're not like family ate or family. Be that's not the point. The point is that by increasing your savings rate, your propelling yourself closer to fire and isn't that the end goal? Let me rephrase my a rhetorical question: that is the end goal. So do yourself a favor increase or savings rate and get closer to fire. Your future self will. Thank you

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my family, that I've recommended a too so for simple, smart savings on your prescriptions check. Good our acts go to good, are ex dotcom, slash, o f de that's good. Our ex dot com, slash, o, f de good, are acts dot, com, slash, de. In my experience, early retirement is an agitating concept for most people, because they assume is simply not possible. The word. Retirement typically is understood to mean not working and our culture glorifies work and productivity. So in many ways retirement is also unappealing, but I think of retirement as an end point your work is no longer dictated by your financial needs, for example, when Michael Jordan retired from basketball. No one expected him to sit around and do nothing. We all expected that he would do something after that, and we should expect that from our own retirements as well,

I retired from my corporate career, but I didn't sign a blood oath, that I would never again make an income keep in mind that there are different flavors of fire, the but I'm following right now is known as coast. I I basically front loaded my trip. national retirement savings. If I don't touch when I have right now, even if I dont contribute one more dollar, it will grow through the power or of compound interest to what I need in my sixties, which is when start drawing down. This has allowed me to down. Too much sooner than waiting until I have twenty five times my yearly expenses also known ass, I find number also because my circumstances have changed so much over eight years I've been pursuing fi. My fine number continues a moving target coast. Fi allows me to gain all the benefits of traditional fire and then

I have full autonomy over my time, but it maintains flexibility, because my focus on self employment provides me the abyss. be to turn up or turned down my level of income as needed or desired, even if you're in the large majority, who are an inch stood in early retirement. The way you get there is the way you get to any financial goal, live below your means and invest the gap between your income and expenses. But that should do it for today have a great rest of your day and I'll be here. Reading to you tomorrow, where your optimal life awaits.