Of course it will take some careful financial planning but following one simple method could ensure that you are able to save £5,000 a year on a salary of £31,000. And investing that savings pot wisely could help people to achieve financial freedom and retire early.
It works by encouraging people to keep their expenses as low as possible when they’re young and reap the benefits by retiring much earlier than most.
Many supporters of the movement suggest the four percent rule meaning someone would need to put away at least 25 times estimated annual living expenses.
That’s quite a feat – but not everyone needs a fortune to retire.
People will find that their expenses naturally decrease as they grow older.