I was emailing with Adam over at the blog Minafi and I am very impressed with his guide to financial independence and early retirement (FIRE). It explains the concept in greater detail than I could ever hope to communicate. I also love that you can fill in your own numbers to figure out where you are now and where you want to be in the future. I filled in a rough estimate of our numbers (which I converted into dollars) and at our current savings rate at 37% (which we intend to increase when we move in to our tiny house) we are set to be financially independent at age 42 (our goal is to be FI before the age of 45)! So if you are curious about the FIRE concept and want to dive into the details and numbers I really recommend his guide.
Here is a short introduction to the guide from Adam:
Do you know when you could be financially independence? For most people, a few small tweaks to your lifestyle can move that date up months or even years. Check out this interactive guide to FIRE to find out. Imagine a calculator, a choose-your-own-adventure book, a series of interviews & a guide to early retirement and financial independence all rolled into one and you’ll get the idea of what you’ll expect.