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3min chapter
How to Achieve FIRE By Income (Are You on Track?)
Money Guy Show
How to Replace Your Pre-Retirement Income
At a 25% savings rate for someone who makes $200,000 a year and they save 25% for 25 years, they can replace 41% of their pre-retirement income. If you're saving 35% to 40%, that's still a big ask. And then if you can get that savings rate to 40%, now we have finally crossed over that magic threshold of 60%. You can replace 66% of your pre-ret retirement income. Assuming that you had 1.5% annual wage increases over that $ 200,000 income.
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