See this story on a frugal couple in Vancouver Canada who are saving 65% of their income.
They are average income earners who lead a minimalist lifestyle where they don’t own a car, stay in a cheap apartment and eat simple. Their plan is to achieve FIRE in a few years time.
I did some calculations based on the “4% withdrawal rule for financial independence” for them. It is indeed true that if they can invest at 6%p.a at this savings rate, it will indeed take 10 years or so only to build a big enough retirement pot an be financial free! 🔥
What do you think of such extreme frugality? Possible to do so here in Singapore?
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