People talk about retirement all the time. Will there be social security in retirement? Will you have enough money when you retire? What will you do when you retire?These are all great questions.
The one thing that sticks out with retirement is freedom. You will have freedom of choices of what you can use your time on. These same concepts are also used for Financial Independence.
The big buzz word that is coming about is FIRE. FIRE stands for Financial Independence Retire Early. As I read about it and study it I see that a lot of people that are part of the FIRE movement stick to the FI part more often than the RE part.
Time is something that people love to have. You have time to travel, be with your family, kids, other projects, and the multitudes of things you can be doing besides work.
Using the 4% rule, is the way we have come up with our Financial Independence Number. We take our annual spendings and multiply by 25. That number gives us a goal to set-up before us to achieve that moment where we can withdraw.