Hi folks, as per the title. I'm interested to know more about FIRE (financial independent, retire early) movement but always get confused when researching online -- hence i don't know if i could achieve it.
I'm currently 29 yo with income of around 9000 - 10k per month. let's assume 9k for now. i've agreed with my partner to not have a kid etc.. because we'll focus more on travelling, exploring, volunteer and probably live a nomad life.
my expenses monthly is now around $3500/month
- rent/bill/internet : 1000
- food : 600
- mobile : 40
- insurance : 300
- parent : 1200
- transport : 100
- gym/health : 100
- etc.. : 160
how do i know how much do i need to save before i can stop working and live as what i'm living now ? my expenses will stay the same as i don't and will not have debt/commitment/kids.
is there a proper way to achieve this goal faster? i don't have any other skill other than generating 9000 per month from office work.. don't know investment, don't know property, don't even know what is REIT
, should i know them? and how many percent should go for investment?
most importantly.. is this FIRE movement thingy realistic? i cannot see myself keep working and stressful every month hence i resort to this.
sorry, noob question