Financial Independence Day is celebrated on 25th April to promote awareness of the Financial Independence movement. I’ve already shared my post What is Financial Independence? and of course I jumped at the chance to write this post when I saw Ty from Get Rich Quickish suggesting marking this date to increase awareness.
The date is 25th of April, and those numbers are significant, it refers to the number 25 & 4 from The Trinity Study, stating a person would need 25x their annual spending amount saved to live off a 4% withdrawal rate, for life. This could be the key to retiring early for anyone.
Like many people I first heard about Financial Independence by reading Mr Money Mustache’s blog, then I found The Mad Fientist podcast, who had J L Collins as a guest, it was here I discovered the key to retiring early … the 4% rule. I then got hooked on the Choose FI podcast and for UK specific content I found The Escape Artist. I could list another 100+ writers blogging about their stance on Financial Independence and we still would only be scratching the surface. The best part? This information is available online, and for free.
No two writers are the same in the FI community, there are countless writers and blogs to read. FI can apply to anyone, regardless of gender, where you live, what your job is and so on. Each path to Financial Independence will be unique to each person’s circumstance.
I am a member of Facebook groups for both the UK and global communities, a Women’s group and even a local FI group, I have attended several meet-ups in the UK, as well as the Reddit groups and countless blog visits. I’m fascinated to see how quickly the movement is growing, and will be attending the London premiere of the Playing With Fire documentary in June 2019.
Not everyone agrees on exact numbers, and don’t take my word for it, here are some heavy weight FI writers on their thoughts on how to retire early.
The 4% Rule: The Easy Answer to “How Much Do I Need for Retirement?”
Stocks — Part XIII: The 4% rule, withdrawal rates and how much can I spend anyway?
You can escape to financial freedom…HOW MUCH IS ENOUGH?
I’m writing this with the hope to get the message out there, Financial Independence will be a different journey for everyone, however the 4% rule gives a framework to work towards and an answer to the question ‘can I retire early?’.
Happy International Financial Independence Day, please share with your friends and family or tell me about your journey, I’m on social media under EatSaveLiveUK and am always happy to connect with Financial Independence advocates.