Savings rate is the key to early retirement from "summary" of Early Retirement Extreme by Jacob Lund Fisker
The fundamental principle behind early retirement is the idea that by increasing your savings rate, you can drastically reduce the number of years you need to work. This concept is based on the simple equation that the higher your savings rate, the faster you can accumulate enough wealth to sustain yourself without the need for a traditional job. By saving a larger percentage of your income, you are essentially increasing the amount of money you are putting away for retirement. This means that you are able to achieve financial independence sooner because you are accumulating wealth at a faster rate. This is in direct contrast to the traditional approach of relying on market returns or working longer hours to increase your income. When you focus on increasing...
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