> Financial planners typically recommend that you save enough to replace 80 percent of your preretirement income, but Udo says his family lives comfortably on less.
Exactly. You don't need 80% of your income, you need 100% of your expenses. If you're saving 40% of your income, you need to save until your investments can reliably generate 60% of your income. If you're saving 60% of your income, you need to save until your investments can reliably generate 40% of your income.
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[ 9.5 ms ] story [ 18.8 ms ] threadExactly. You don't need 80% of your income, you need 100% of your expenses. If you're saving 40% of your income, you need to save until your investments can reliably generate 60% of your income. If you're saving 60% of your income, you need to save until your investments can reliably generate 40% of your income.
Alright, let's see how they do it...
1. "a blog where he chronicles his retirement experience"
2. "writing a book about retirement"
3. "blogging about financial independence"
It seems the trick to early retirement is blogging about early retirement.