FYI: FINANCIAL independence” has become a catchphrase over the past decade—in part because it’s the FI in FIRE, short for financial independence/retire early, a movement that’s captured the imagination of some and earned scorn from others.
The strategies touted by the financial independence movement are simple enough: Earn a large salary. Live frugally. Invest a substantial percentage of your income in low-cost mutual funds. The objective: Accumulate savings equal to at least 25 times your total annual spending. At that point, you should have a nest egg big enough to support your lifestyle—assuming a 4% drawdown rate—and you can consider yourself financially independent.
Regards,
Ted
https://humbledollar.com/2019/11/why-fi/
