Financial Independence
Lean FIRE is the variation of the Financial independence/ Retire early (FIRE) movement that involves extreme frugality and minimalism both before and during retirement.
Home Buying
House hacking is the act of generating income from your real estate property while living in it by renting out a part of the home you live in, or renting out units of a multi-family unit while living in one of them.
Barista FIRE refers to an early retirement approach in which you work part-time after retirement to fund some of your expenses. You will thereby require a lower net worth for retiring, and you may be able to retire earlier.
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Liquid net worth refers to all your assets that are readily convertible to cash minus debt and liabilities such as loans.
financial literacy
If you want to know how to get started with FIRE and what it will take to achieve financial independence and retire early, we recommend these 5 books to help you along on your FIRE journey.
Financial Independence
The Coast FIRE approach focuses on saving aggressively early in your career and accumulating assets and then working on a job that is less stressful or something you are passionate about.
Home affordability
A person with a salary of $60,000 can be eligible for a home value between $180,000 and $262,000.
Home Buying
A person with a salary of $80,000 can be eligible for a home value between $233,000 and $340,000.
Home affordability
A person with a salary of $100,000 can be eligible for a home value between $288,000 and $420,000. The exact home value depends on your lifestyle, interest rates, credit scrore and down payment.
Home affordability
A person with a salary of $200,000 can be eligible for a home value between $550,000 and $800,000. However, it is important to understand your full financial situation before deciding how much house to buy.
Home affordability
While thinking about how much house you can afford, consider factors such as debt-to-income ratios, down payment, interest rates, property tax and your lifestyle and expenses.
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Planwell is a fully automated AI financial planner and advisor that helps individuals and families make financial decisions that are hyper personalized to their goals and lifestyle.