Displaying items by tag: lifestyle inflation
My thirst for early financial independence, also referred to as FIRE (Financial Independence Retire Early) by those in the personal finance world, probably started in 2014, as you will be able to tell from my savings rate that I will show you further down in this article. It started with rethinking my concept of money. The age old adage of retirement is to save 15-20% of your income, work until you turn 65, and then enjoy your life. But what if I don't want to start enjoying life when I turn 65? Can I do it as early as 55 years old? What about 45, or even 40 years old?