10 Levels of Financial Independence And Early Retirement | How to Retire Early

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10 Levels of Financial Independence And Early Retirement | How to Retire Early.

Long-term financial goals can sometimes seem so big that they feel almost unattainable especially when we’re just getting started on our road to financial independence. I and many others like me in the financially independent, retired early community have found it helpful to break down the goal of becoming financially independent into smaller and more manageable levels of financial independence. Not only because it makes it easier for us to track our progress, which in turns helps us to stay motivated throughout the process, but also because it helps us get over that initial hurdle of starting to chip away at this mountain of a task. In today’s video, I’m going to take you through what I consider to be the 10 levels of financial independence as well as give an example on how to go from the first level to achieving Financial Independence in your lifetime.

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I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.

DonaldMark-nese

I started investing in a retirement fund with my taxable account. I used the buy and hold strategy in my Roth, adding some Berkshire B stock, SCHD, and an S&P 500 and total market exchange-traded fund.

ChristopherAbelman

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274, 800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

Marten_t

I'm on the Dave Ramsey plan currently. So far payed off all 44K of credit card debt in 2 years. Level 8 is what I've been shooting for.

brent

Set the Speed X1.5.
Save you the most important asset you have. (TIME)

AlanBarrettVideos

Thanks for clarifying! It's great to see what those concepts actually mean and will surely help many on their financial journey! 🙌

makedollarswork

Thank you! Your content has truly helped me, you have no idea ♥️

livingbeyondtoday

The hypothetical does not take into account federal and state income taxes. $83, 200/12 = $6, 933 of gross income. Monthly expenses of $4, 000 ($48, 000/12) leaves you with $2, 933. Minus monthly debt of $1, 272 leave you with the $1, 661 per the example. However, if you grab that $6, 933 and you reduce it by 7.65% and withholding of about 20%, you are looking at about a take home of $5, 025. When you take into account the monthly expenses of $4, 000 and the debt payments of $1, 272, you can see the numbers don’t add up. Obviously, the monthly expenses can be tweaked but at the rate of housing, food and insurance costs these days, $83, 200 household income in this example is not enough to eek out a financial plan.

Joryo

Woooow I love this... I need to start planning my financial freedom this gives me a guide line !!

reby

Thanks for the video, im in the uk and on my Journey, i just find it hard to work out where i am but i just keep saving.

HW-oppq

Well done! Thank you for acknowledging that simply saving a pile of money then "living comfortably" through 4% annual withdrawals isn't the ultimate retirement end game for some. There's so many levels beyond that.

eddiemalvin

Thank you for the video :) I do use this kind of system myself.

StefanIordan

That couple is living better than 99% of this audience. Myself included.

traviszachery

The recipe is relatively simple: be a conscious consumer, don't buy a gigantic expensive house, don't buy expensive cars. I might not get early retirement, but u also won't get cash strapped

brunomanco