The Millennials are at it again. Our generation discovered in 20-years what other generations took 40-years to figure out: working your entire life away so maybe you can retire (if you’re lucky) is a recipe for suc-sucks! On this episode, we explore #lifehacks and the simple math that can help Millennials hasten their financial independence and retire early enough to actually enjoy our money long before age 67.
- “The History of FIRE” lays the groundwork for our discussion on FI/RE (Financial Independence / Retire Early)
- TheCollegeinvestor.com shares how you can become Financially Independent while still enjoying your money when you’re young
- Find motivation and money by maximizing savings on the three expenses where the average household spends over 60-percent of their income: home (33%); transportation (16%); and food (13%)
- The simple formula you can use to calculate the amount of money you need to reach financial independence and why it might be as low as $2,000/mo
- The monthly totals you need to save each starting at ages 20/30/35/40 to retire early
- ICYMI – Become a Money Boss with J.D. Roth
- Investopedia – The 4-percent rule for estimating retirement expenses
- Robert Farrington – Fire for Non-frugal People
- Investor.gov – Calculate your monthly savings needed to reach your FI/RE goal
- NerdWallet – Retirement Calculator: estimate your replacement income needs
September: Tune in for a LIVE presentation of Paychecks & Balances for #InternationalPodcastDay on Saturday, September 30th 8pm PST / 10pm CST! Click here for more information and the full schedule.
October: We’ve been selected to speak at FinCon October 25-28th: How to Build a Money Podcast Without Being an Expert (or boring).
Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.
Read Marcus’ book on how he buried and dug his way out of over $30,000 in debt by age 30, Debt Free Or Die Trying, on Amazon.
Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.
Get Our Money Plan
Get our FREE 15-Minute Money Plan today! You'll also receive actionable work and money tips and interesting reads that'll keep you professionally and financially woke.