A few weeks ago we received a comment to our September budget article from a young reader who was impressed with our plan of financial independence and early retirement, but quickly grew disappointed once she saw our relatively high income. It is true that my wife and I enjoy a fairly high level of income, … Continue reading Financial independence is not just for the “rich” or wealthy
One of the most spirited debates within the early retirement community revolves around the influence that a high level of savings (as well as income) has on a person’s ability to retire early. I have argued in the past that although a high income can help, an aggressive savings schedule is a far better measure to determine a person’s fitness for early retirement.
My rationale was simple: it is a person’s lifestyle that ultimately determines how long he or she can survive without a full time job post-retirement. Meaning, a more frugal lifestyle will generally enable earlier retirement than a less frugal lifestyle, regardless of income.
But yet, I would be remiss if I did not address the obvious monkey in the room. Continue reading “How much does income affect your post-retirement lifestyle stability?”