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Do YOU know YOUR Financial Independence Number?

Your financial independence number is the amount of money you need to accumulate so that when you retire you won’t run out of money and have to go back to work!

To get there, invest $585 per month for 30 years at 9% = $1,080,000

You want $2,500 per month to retire today… 30 years from now, after 3% inflation… you will need $6,083 per month to buy what $2,500 buys today!

“ $30,000 today is $73,000 in 30 years!”

Your FIN is $1,080,000

This hypothetical example assumes 20 years of retirement income needed, at a 6% post-retirement rate of return and 3% inflation.

Hypothetical investment rates assume a nominal 9% rate of return, compounded monthly, and is not indicative of any specific investment.

Any actual investment may be subject to taxes and fees, which would lower performance.

This example shows a constant rate of return, unlike actual investments, which may fluctuate in value. It is unlikely an investment would grow 9% on a consistent basis, given current market conditions.

Tell me in the comments if you know your Financial Independence Number!

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