How to keep on track becoming financially independent?

1️⃣ Define the average_yield, you expect your money will earn you per year. (Rather be conservative here.)

2️⃣ Define your yearly_costs, how much money you spend in a year in total.

3️⃣ Calculate how much money you have to save so that you earn each year your costs. From the following equation you can calculate it:

saving_goal * average_yield = yearly_cost

4️⃣ Visualize your progress compared to your goal.

Extra tip:

1️⃣ Fix a monthly amount you will save.

2️⃣ Calculate how much month you have to save to reach your goal.

This tips can give you a perspective on where you are in the process and how much time it will still take to reach your goal.

#financialindependence #retireearly #fire #investing #saving #plebchain #sharingiscaring

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