The financial world is on “FIRE”, with the word “retirement” rapidly becoming the buzzword of our generation.
Over the last few years, the “FIRE” (Financial Independence, Retire Early) movement has been gaining momentum all around the world, with more and more people exploring ways to retire.
To achieve financial independence, it’s important to ensure that we have sufficient funds to last us through our golden years so that we do not need to worry when we have silver in our hair.
However, what exactly is “enough” for retirement?
The word could mean different things to different people over different timeframes.
So, let’s try to define certain metrics and aspects of what constitutes “enough” so that investors can get a better handle on what it takes to achieve retirement.
Creating a financial cushion
Let’s start with the basics, which involves building a strong enough financial cushion to buffer against emergencies.
Think of it as an “emergency fund”,...