375 | What is Savings Rate and How to Calculate It?
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What Is Our Savings Rate?
Jonathan: Most math that you need for financial infinite should be done on the back of a napkin. If you spend everything you make, if your living pay check to pay check, you will never be able to retire right? Never. At ten % savings rate will get you to financial independence in 51 years. A 20 % will knock that down to 37 years. Even if you start at 22, even if you say, it's 51 years, 51 years. So i think for me, just looking at this calculation, most people at 59 are not at that point. And so why we think saving is critical because it is tied inexorably with erstefi
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