Want to retire at 30? It's tough, but possible! It takes a lot of saving and smart planning. Think of it like a super-long-term video game where saving money is your score.
- Figure out how much money you'll need each year to live.
- Save at least half your income! This means being careful with your spending.
- Invest your savings to make them grow. Think of investing as letting your money work for you.
- Use retirement accounts like 401(k)s and IRAs. These accounts help your money grow tax-free.
- Plan for healthcare costs after you retire, since you won't have Medicare yet.
| Annual Spending | Savings Goal (25x rule) | Savings Goal (30x rule) |
|---|---|---|
| $60,000 | $1,500,000 | $1,800,000 |
Retiring early is a big challenge, but with careful planning, it might just be possible!
