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Considering that I once put an entire financial plan into a single tweet, it shouldn’t be too surprising that there exists a one-page guide to Financial Independence.
This one-page guide to Financial Independence is from J.D. Roth’s Get Rich Slowly site. (naturally, I would call it the one-page guide to Findependence!) Naturally, the strategy revolves around that most basic premise of personal finance: live below your means and spend less than you earn: much much less. So that you can save much much more. Not just the modest 10 to 20% that most people shoot for in their IRAs or RRSPs: Roth suggests saving at least 50% of your income, and preferably up to 70%.
Extreme? Indeed, Roth calls it Extreme Saving but that’s also the kind of savings levels that Extreme Early Retirement gurus like Mr. Money Moustache and Jacob Lund Fisker advocate. The latter’s book can be found here.
As per the philosophy of this site, I would call this Extreme Early Findependence, not Extreme Early Retirement, which is why we call one of our soon-to-launch discussion forums Extreme Early Findependence.
