Quote:
Originally Posted by Jason14h
Actually this is exactly what $$ can do - buy time
Don’t have to go to work anymore? - Time
Don’t need to clean your own house ? - Time
Don’t need to mow your own lawn or shovel snow ? Time
Or maybe better stated -
$$ buys freedom and flexibility
And there’s only so many years and opportunities to earn that freedom and flexibility
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Your first bullet is the point. You don’t have to work sooner by reducing the amount of money you spend.
You trade Time for money. By simply reducing consumption you earn that time.
The idea that the target value should be higher isn’t great advice. Instead cut spending so you have the same level of flexibility at a lower target number. The fastest way to save for retirement is to avoid adjusting to a standard of living that requires more wealth to support.