To achieve financial independence, you need to learn how to increase your savings rate. Do you wonder how much I save every year? I managed to consistently get a savings rate of 50% in the past. To achieve this, I made some lifestyle choices that proved crucial to save money. Do you wonder what savings rate to retire early you need? This video explains some key concepts of the FIRE (financial independence, retire early) movement. Based on my experience in MBB consulting, I talk about how me and my friends and colleagues set up our finances and what you can learn from it. I share my top tips for a high savings rate to help you retire early. In this FIRE movement explained video, I give you money saving tips. Let me help you with your personal finance questions.
Chapters
00:00 Introduction
01:30 Savings rate math
06:00 Lifestyle decisions for high savings
09:00 Hedonic adaptation
11:27 Investments
12:00 Wrap-up
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