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Nike Roshe Run Aztec Tribal

By some calculations, you'd reach FI in only 16 years with a 50% savings rate or an amazing 7 years with a 75% rate!

Why not?

What is Financial Independence (FI)? If financial independence is the destination, what does it look like? How will we know we've reached the destination?

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It's a specific amount of net worth invested in safe and steady assets so that the net income covers all of my family's living expenses. Yes, that or muchless is very possible.

Low savings rate = long flight to financial independence

The simple math for financial independence works like this:

Your savings rate is the percentage of your earnings that is saved and not spent.

Nike Roshe Run Aztec Tribal

To see the math and assumptions, see The Shockingly Simple Math Behind Early Retirement. we are doing a poor job of saving. The average yearly individual savings rate as of April 2014 was a meager 4%.

Nike Roshe Run Aztec Tribal

Because earning more money and spending Roshe Runs Womens Foot Locker

Nike Roshe Run Aztec Tribal

My grandfather flew airplanes in World War II, and later he flew for Delta Airlines until they made him retire at 60. He loved flying so much that one time during retirement he delivered a small single engine plane (a Cessna) all the way across the Atlantic Ocean just for fun!

Why is Arriving at Financial Independence Not So Simple? The math is simple, but in reality destination financial independence is not so simple.

Spending less money often fails for the same reasons as failed diets and exercise. We see it as deprivation and a sacrifice too large to make. It's too uncomfortable and difficult to change, even though we "know" better.

Why is the average so low?

In one way, destination financial independence is very simple.

and have it safely invested, I've arrived. This may be, for example, 10 free and clear Nike Roshe Run Aztec Tribal houses that I have bought for $100,000 each and paid off all the debt.

We take off for a financial destination we have never seen. While in the air, we get tossed around and knocked off course (A LOT). But, if we're persistent and keep focused on the end goal, we'll eventually land our plane at our destination.

less money is tougher than addition and subtraction. Both are very personal challenges.

Nike Roshe Run Aztec Tribal

Nike Roshe Run Aztec Tribal

Nike Roshe Run Aztec Tribal

My safe and steady investments produce at least 6% cash on cash return. If you really practice real estate investing, this is a piece of cake.

Nike Roshe Run Aztec Tribal

Therefore I need $5,000 x 12 = $60,000 6% = $1,000,000.

Nike Roshe Run Aztec Tribal

financial independence

Zero/Negative savings rate = NEVER get to Nike Roshe Run Retro Womens

In my case and maybe in yours, that destination is financial independence.

This means that when I accumulate a net worth of $1 million dollars Roshe Run Id

Unfortunately, I never caught the flying bug (I think motion sickness had a lot to do with it). But, I did absorb airplane metaphors from an early age.

´╗┐How to Reach Destination Financial Independence

Challenge 1: Math vs Behavior Real life results are not math. Real life is about personal habits and behaviors.

High savings rate = quick flight to financial independence

Earning more money requires you to improve yourself and your marketable skills. If you currently earn too little, you have to focus on your mindset, on your skills, and on your ability to add value to people's lives. These require investments in education and personal improvement.

Nike Roshe Run Aztec Tribal

Nike Roshe Run Aztec Tribal

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