Financial independence At the final level, withdr
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Posted On: 01/21/2024 7:24:55 AM
Financial independence
At the final level, withdrawals from your savings completely replace income you would otherwise earn from working. At their current rate, the Fioneers expect to reach full financial independence in their 50s, but that number isn’t set in stone. Should their income exceed their current lifestyle needs, they could put the excess money toward intermediate-term goals.
They could also resume investing toward retirement, which could boost their FIRE number or move their retirement date closer.
“Reaching Coast FI doesn’t mean that we can’t save another dollar,” says Corey. “It just gives us the option to live a more intentional life.”
At the final level, withdrawals from your savings completely replace income you would otherwise earn from working. At their current rate, the Fioneers expect to reach full financial independence in their 50s, but that number isn’t set in stone. Should their income exceed their current lifestyle needs, they could put the excess money toward intermediate-term goals.
They could also resume investing toward retirement, which could boost their FIRE number or move their retirement date closer.
“Reaching Coast FI doesn’t mean that we can’t save another dollar,” says Corey. “It just gives us the option to live a more intentional life.”
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