Retirement and FIRE
Whether you plan on working for most of your life or if you're looking to obtain FIRE (Financial Independence, Retire Early), you'll need to figure out how much money you need.
Our recommended way to determine if you're ready to retire is the 4% Rule, though these are just guidelines as HOW you live your life in retirement will be the real judging factor.
The 4% Rule. Take how much income you require to retire and divide that by 0.04. Your total is approximately how much money you need to retire. So if you need $80,000 per year to retire, then you'd need $2 million in your retirement fund. Alternatively, you could build up $80,000 per year in passive income streams.