Quote:
Originally Posted by GGG
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.
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But you can only cut spending so much
And that’s the point . In the long run if something unexpected happens you can’t go back and earn more once you are in retirement . Earn early and you have a lot more flexibility later in life for the unexpected
And/or set a higher goal and execute and you have a better chance to cover for the unexpected