10 Levels of Financial Independence And Early Retirement | How to Retire Early

This is a great video, thank you!

The great taking

The kids were not factored in in this hypothetical scenario.

Stopped watching at $83,200... Not everyone is making that and not everyone is a couple.

I do think we are at the stage when internet access is a survival expense, especially for me as a resident of a country bordering ukraine, and the doomsday clock being so close to midnight

I love the step-by-step example using realistic numbers because anyone watching this could, in theory, take these steps and make a plan using their own numbers. This goes beyond just covering the concepts and actually showing people how they can implement them. This is what makes this a great video!

I got 9,6 and 5 so far.

Thank you!

Excellent video,but sadly half of USA will not be able to obtain this.

You have to save and invest your money 💰

Great video, I feel fully motivated! Do u have a coast calculator you recommend?

Nice insightful video. I am at level 5–trying to get to level 9!

excellent tutorial the truth seemed great to me the explanation and everything

I'm 56 and my wife and I are very worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, we are finding it impossible to replace it. We can get by, but cant seem to get ahead. My condolences to anyone retiring in this crisis, all those years of work just to loose it all to a crisis you didn't cause.

I’m confused so I put 1/3 of my income on stocks and other investment some in land and the rest goes to bills and paying off my car loan at a higher rate to do it quicker so am I level 0?

The example given of the couple is unrealistic. Car maintenance being one example not included in the scenario.

Great rough blueprint but huge huge holes in this plan my guy.
1. Putting your entire life savings in the snp500 is dum dum dum dum
2. The 3 percent inflation and 10 percent yearly return Is a historical average. If they started investing in 99 theyd be way behind. Inflation right now is upwards of 10 percent.
3. The 4 percent rule has been de bunked several times by Ben Felix and graham Stephan. It's something like 1 percent now.
4. The assumption that expenses will stay exactly the same and income dependent on a job will stay exactly the same is a far stretch. Having kids and getting sick or fired for example.

There's a way to get financially free by constantly increasing your income, lowering your expenses and acheivinf the same marginal utility and creating a diversified portfolio of mainly real estate and a few indexes and assets but fire is NOT it

Fun fact. The majority of people will never reach level 3! Shocking, right?

I've been financially independent since 45 and got so bored with having nothing to do so I started another business. now at 60 I think I'm about ready to do anything but work. I've been working since the age of 14. I think it's enough work for one life. the one thing about this video that really stuck with me is how my desire for material things declined. just don't see the value in those anymore. also the biggest key which this video points out is keeping your expenses to a minimum. it's almost exponential how your money will grow.

Can you do an update on this adding goals like investing 1000 starting at 25 to make it to a million in 20 years for example

Seems like huge steps between steps 3 and 4 and big between 5 and 6

Appreciate the work you put into the video. I don’t think living frugally for the rest of our lives would make us feel happy or fulfilling. I’d recommend reading unscripted or TMF by Mj demarco.

Super video! One question I always have is. This view assumes static expenses and static income. My expenses when I’m 24 could be $48k, but when I have kids it may be $60k. How do I recalculate? Also 25x my income when I first start my career is probably easy, but if I measure it when I’m a managing director, it seems financial independence will be so far away. Any thoughts?

Every video lol this is going to have to be updated for the 10% or more of inflation we see these days.

Well I guess I am at level 1 like most Americans. ..

Having multiple sources of income from investing online (Cryptos, stocks, forex, US assets, nfts, fixed commodities) is the easiest way to secure your dream retirement .I bought my $3,998,000 house a few months ago after retirement. I bought this with the profits from my various online investments, all managed by William Stanley Jnr. Having a financial expert like William has also been very helpful, I get to earn passively from different sectors.

Soooo who finances the car loans after you sell the cars? Don’t know too many banks that will lend that much without collateral. I also don’t know a lender that will release a title without getting their money in full.

I am so confused. Great concept, but very misleading numbers. A couple making 20/hour would only take home about $2200-2800/ month after paying taxes and benefits. Then minus all of their expenses. They are not even close to the amount you have them investing. Not to mention mortgages, or rent increases. Child care, Healthcare costs. Your video makes it seem so simple. This does not represent reality.

If you've got more than 4k left at the end if the month you're already upper middle class.

Well done! Thank you for acknowledging that simply saving a pile of money then "living comfortably" through 4% annual withdrawals isn't the ultimate retirement end game for some. There's so many levels beyond that.

Financial independence can be earning smaller but increasing amounts of passive income to start taking care of bills.

Im at level 0 (17 yo) but hopefully I'll be at atleast level 1 by the time I graduate

This is literally one of the best videos I’ve seen in awhile!! Keep it up! Thank you

No kids, no travel, no upgraded vehicles, no saving for down payment, no interest in debt taken into account?

Well I liked it up until the point of the car loans. This is NOT how car loans work. You don’t sell your car, get and reappropriate the money and still keep ur car loan. U don’t have the title to your car UNTIL the car loan is fully paid off. Therefore- u CANNOT sell it. Smh. I am able to catch this misinformation because I am in banking and lending. But what about other information on this channel??? Can I trust it??? Unable to check? So disappointing smh.

Great financial advice and I’m trying to get back on track… once again 🙄
BTW the narrator sounds so much like Dan Carlin 😝

The greater the passive income you can build, the freer you will become

How do you sell a car with a lien on it from a bank loan and still have the car loan?

$1300 extra a month for 5 hours of overtime per week? give me one of those jobs plz

This is such a good video and it's nice to know where I am now on my financial situation. I'm almost on level 3 which is debt free and along the way it gets easier to save more money and invest it to achieve the next level faster. Many thanks to the great explanation on the video!

After Dave Ramsey I am now debt free. So I bought a minor fire damaged house for 19K I am remodeling to rent out as 4 - 1 bedroom suites and its has a guest room in the garage I will live in. This passive income will be my retirement plan as I am already old enough to retire, would you comment on this idea?

Is is a similar system called "paycheck to paycheck".

I am at least level 6 due to my pension from the VA

Really interesting video! I’m 55 and reached level 3 but I am single. Do you have a video for single people? Thank you. 🌸

nice story, but this doesnt take financial setbacks for acount. setting up a emergency fund and never having to refill it does not sound legit

Thank you so much for sharing

Born a rat always a rat

This was a great video and I thought it was really insightful! However, there are a couple things that I thought were missing. That is, interest accrued on loans and taxes on income.

You have to have amazing parents or just self awareness to start this at 25 being married and on a 80k salary with a wife that wants to contribute to the financial goals

Great Video. I appreciate the focus and detail on how your relationship to money and spending changes as your net worth matures.