Is it possible to stop working for money, i.e. retire early because you are financial independent, by the age of 40? Is this only a plan for IT guys who earn 80k+ salaries or can this dream come true if you earn an average salary of 40k per year? Would it still possible if you had kids? Or a student debt you had to pay down before you can really start investing? How would a side hustle impact your journey to FIRE? … And wouldn’t it be nice if someone else would do the maths for all those scenarios? Well, look no further, the Cashflow Cop has done just that, by taking Adam from the UK and Amy from the USA as examples for his calculations.
His article received the highest number of clicks on our site during the month of August. You can read it over at CashflowCop: Is Financial Independence by 40 on 40K Possible? – REALITY CHECK