What Is Financial Independence and How to Reach It

1 Financial independence is 25 times your annual spending invested, so your spending sets the target.

2 Cutting 500 a month works twice: it raises your savings rate and lowers your finish line.

3 At a 50 percent savings rate you reach financial independence in roughly 17 years from zero.

4 A UK pension is normally locked until 55, so early retirees bridge the gap with an ISA.

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