Determining Your Financial Independence Number - My Own Advisor
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Jun 29, 2020
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madfientist.com
Your Financial Independence Number (FIN) is the amount you need invested so you never have to work again. Here's how to calculate it: 1, Figure out your yearly expenses. Example: $80,000 2 Subtract government income (CPP OAS). Example: $20,000 → Gap = $60,000 3 Divide the gap by 4% (safe withdrawal rule). $60,000 ÷ 0.04 = $1.5M That's your FIN Number. Once you reach it, you can live off your investments for life. Want to know your FIN Number? Let's calculate it together. #life #financialfreedom
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