you could retire and live your dream life in just 7 years starting with absolutely zero dollars in your bank account yep you heard it right I know what you're thinking this girl must be out of her mind but trust me this isn't some get rich quick scheme or Lotter winning Fantasy I have a plan to make you think that 40e work Marathon Society has sold out so let's dive into stepbystep guide to retiring early and living your own terms step one find your freedom figure let's start with something I call Freedom figure this isn't some
complicated Financial jargon your freedom figure is amount of money you need to stash away so you can cover your yearly expenses without lifting a finger it's like a final boss in video game once you bat it you're free let me break it down for you take the amount of money you want to leave on one each year in retirement say 50,000 and multiply it by 25 why 25 because according to the times 25 rule this is the amount you need to safely withdraw 4% of your savings each year without even running out of money so
for our example you'll need $1.25 million I know what you're thinking 1 and A4 million that's impossible but don't worry we won't try save it overnight we are going to break it down into manageable steps and by the end of this you'll see it's not a doubting as it seems step two the act of frugality mastering the first year let's be honest the first year will be a grind there is no sugar cat in it this is where you need to embrace the art of frugality I'm not talking about clipping coupons until your finger are
num I'm talking about making smart intentional cards to your expenses that will set you up for a long haul your mission for the first year is simple save 10,000 think of it as laying the foundation for your house with a solid base the whole thing stays in fact so where do you start this is like your biggest expense if you're renting consider downsizing or getting a roommate if you're own house think about house hacking more on later if you're driving a wallet Drive in fancy car sweep it out for something cheaper or better yet consider
biking or public transport if it's feasible start meal prepping and cooking at home you'll sell some cash and probably eat healthier while you at it find free or lowc cost hobit that you enjoy trust me your wallet will thank you this first year is about getting into a groove of savings and slashing unnecessary spendings it will feel challenging but once you see the savings account grow you realize it's worth the sacrifice so go out there Hustle Heart save smart and build this life you're always dreamed of and who knows maybe we'll be tossed into our
success on the beach in a few years watch our previous videos here to make the best motivation and practical content for your financial growth until then don't forget to subscribe hit the notification Bell and keep grinding your future will thank you cheers to your retirement bye
