Achieve Financial Independence in 10 Years

This is an example plan. You can use it as a template to create your own goal map.

Project Plan

A phase-by-phase breakdown of the steps to achieve your goal.

Calculate Your FI Number

Determine your target nest egg, typically 25x your expected annual expenses in retirement.

Create and Optimize a Budget

Track every dollar of income and spending for 3 months to identify savings opportunities. Aim for a 50%+ savings rate.

Build a 6-Month Emergency Fund

Save 6 months of essential living expenses in a high-yield savings account.

Eliminate High-Interest Debt

Aggressively pay off all debt with an interest rate above 5% (e.g., credit cards, personal loans).

Maximize Tax-Advantaged Accounts

Consistently contribute the maximum amount to your 401(k), IRA, and HSA.

Automate Brokerage Investments

Set up automatic monthly investments into a low-cost, broad-market index fund (like VTSAX).

Increase Income by 25%

Negotiate a raise, switch jobs, or develop a side business to increase your income and savings rate.

Explore Alternative Investments

Research and consider diversifying into real estate (e.g., REITs or a rental property).

Conduct Annual Portfolio Review

Review your asset allocation and rebalance if necessary, but avoid market timing.

Plan Your Withdrawal Strategy

Research safe withdrawal rates (e.g., the 4% rule) and plan how you will access your funds in retirement.