On Mr. Money Mustache, we talk about all sorts of fancy stuff like investment fundamentals, lifestyle changes that save money, entrepreneurial ideas that help you make money, and philosophy that allows you to make these changes a positive thing instead of a sacrifice.
Well, I have a surprise for you. It turns out that when it boils right down to it, your time to reach early retirement depends on only one factor:
- your savings rate, as a percentage of your take-home pay
If you want to break it down just a bit further, your savings rate is determined entirely by these two things:
- how much you take home each year
- how much you can live on
While the numbers themselves are quite intuitive and easy to figure out, the relationship between these two numbers is a bit surprising.
If are spending 100% (or more) of your income, you will ...
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