Financial independence is a dream for many people, where one can retire comfortably without worrying about the need to earn a steady income. But achieving financial independence requires careful planning and disciplined saving strategies. One key aspect of retirement planning is determining a safe withdrawal rate that will ensure your savings last a lifetime. There are many discussions about Safe Withdrawal Rate if one retires earlier. What exactly is safe withdrawal rate? Photo by Manish Upadhyay on Unsplash Defining Financial Independence Financial independence is the state of having enough savings and investment portfolio to sustain your lifestyle through your retirement years without having to work for an income. Achieving financial independence requires a clear understanding of your expenses, savings, and goals. It’s also essential to have a well-diversified investment portfolio that can generate a steady income stream in retirement. Photo by Kristina V on Unsplash What is a Safe Withdrawal Rate?...