24 year old with a dream
I am 24 years old and my goal/dream is to FIRE or at least be FI in my early 40s. This is a difficult goal, but one that I believe it achievable, based on a very useful spreadsheet that maps out income/taxes/inflation/CoL/whole other range of things and then tells you how much you will be living on at a particular retirement age.
The important numbers are, I want to have about 4M when I retire, and plan to do it with a very generous income, save 40% of my gross income, only increase spending based on inflation and of course maximize tax-free and tax-deferred accounts when I have them available to me.
I have a general idea of a proper investment plan (low expense, moderately aggressive passive indexing). Currently maximizing Roth space, I won't have access to Roths in a few years and I need as much tax-free space as I can get. Still working on information on how to build passive income through real estate, slowly picking up good information as I go, but this project has yet to begin, I don't have a steady flow of income yet since I am still a student, so a 20% down-payment would be tough for getting started and then maintaining costs.
It is good to be here!