So if you've been paying attention lately, April and my's latest adventure goal has been to retire early. We're both kinda tired of the rat race, or at a minimum tired of slaving away for someone else. To that goal, we've started doing our best to cut costs without killing ourselves. Cost cutting is by far the best way to financial independence. It's faster and works MUCH better than simply saving. Of course, we're still vacationing, still spending too much money on beer, and most importantly, we're still loving life. But I think we've both got our eye on the main goal.
For April, she doesn't like working for other people. She's said repeatedly that this is the last time she will work for someone else. I've always been a silly worker ant; fine with grinding away for someone else. Over the past few months, I've been starting to see the light that she's been preaching to me for a number of years. Based on that, we've got several ideas brewing to run our own business. Some or most of them will probably not pan out, but that's okay. Eventually one will, and we'll be able to break free from office life.
Expanding on that, eventually (less than ten years) we hope to not even have to run a small business at all. Total. Financial. Independence. That's the goal. Having enough money saved in a taxable savings account that we can withdrawal from until we can touch whats in our retirement accounts. Even without a successful business, we should be able to get there.
We all make way too much money to actually work until 65. Currently, we are saving about 35% of our income. Interested in where you are? Check out the attached image. And if you're bored, read the article below it. Figure out how to cut costs, squirrel away some cash, and get the fuck out. Then let's start a UF commune. However,
@dbzeag will be needing his own hot tub. I'm not sharing.
Pulled from:
http://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/