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0 sats \ 2 replies \ @denlillaapan OP 31 Mar \ parent \ on: How to Retire in Your 50s (WSJ, Anne Tergesen and Veronica Dagher) econ
It's a simple formula... You need income up or expenses down, by a loooot. That's why it only works for high-income earners like in the WSJ piece
I think most people - in the US at least - spend a lot more than they need to. Whether it's ridiculous homes, living in a HCOL area, $80k trucks for a basic commute, holidays or constant dining out. Sure, those who take FIRE seriously usually approach a 50% savings rate, but I've seen that done even on meager salaries. Mostly it's engineers, nurses, etc. who have good paying professional careers, but those jobs and people aren't incredibly rare.
I only ever achieved a ~25% savings rate, but at 40, I'm only still working because I get to contribute to the lightning network and I would be doing that anyway. I would probably have another decade left if it weren't for bitcoin, but one could argue that makes this approach even more accessible.
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precisely... it's kind of aggressive. And most people don't live like that.
That they could is a different hypothetical, really. (We could all survive on beans and rice, but we don't...)
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