Any goal you set needs to be paired with a measurement for success.

How many pounds do you need to lose if you are overweight and want to look better? What is your target weight?

Personal finance is no different, and an intentional plan for achieving financial independence requires appropriately set measurements for your FIRE goal and the progress toward reaching it. The key question is: How much savings do I need to reach financial independence?

The starting point should always be based on expectations of spending habits. You need to understand what your expenses will be to plan for a savings and investment portfolio that is large enough to sustain your lifestyle.

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