/biz/ - Business & Finance

Welcome to the general thread for becoming financially independent of your main income source!
Are you eager to break out of the rat race? Come here to share your tips on saving a large percentage of your income so you can retire far earlier!
Remember the 7% rule! You can only safely withdraw 7 percent of your saving annually. This means that you need to hoard 14.3 times your yearly consumption to become financially independent. When calculating your consumption you should remember that you won't have any work bonuses if you quit your job, so you should consider the cost out of your own pocket.