explanade
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- Joined
- May 10, 2008
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- 7,448
LBMY, after making a mistake in her 20s, hopes to hit $1 million soon.
So a FIRE milestone but not aiming to RE.
Shows her budget in September. Pays cash whenever she can.
Read in CNBC: https://apple.news/A0zdNDjyTTuqq34CdRwf3gQ
Indeed, by increasing her retirement savings — she socked away $1,000 in September, the largest line item in her budget — DeFelice can theoretically hit her FIRE number sooner. If she stays focused, she says, she hopes to reach $1 million by age 45. By the traditional FIRE number rules, that would allow her to withdraw and live on about $40,000 a year.
"If I do reach that million-dollar mark, I would feel confident in not having to bring in an income with a standard day job or with my business. For me, though, [retirement] is not the end goal."
She hopes to continue to help people follow her model to reach financial independence of their own. DeFelice is focused on growing Best Money Class Ever, investing any profit the classes generate back into the business.
So a FIRE milestone but not aiming to RE.
Shows her budget in September. Pays cash whenever she can.
Read in CNBC: https://apple.news/A0zdNDjyTTuqq34CdRwf3gQ