296: [MONEY] Back to Basics: How Much Money Do I Need to Retire?

If you’ve been following along in our money series with special guest PA Sarah Miller, we’ve covered the basics of investing - why, how, and where. But what’s the final goal? What are we investing for? For most of us the answer is retirement. But in order to retire, we need a big enough nest egg to be financially independent. In today’s episode, Sarah explains what financial independence is and how it relates to the FIRE movement. She also tells us what number we need to aim for in order to reach FI and be able to be work optional.  Sarah is a personal finance nerd who learned about finances and investing from an early age from her father and grandfather, who both spent their careers in the corporate finance world. As an adult, Sarah immersed herself in the personal finance and FIRE spheres, learning from top experts. Sarah is my personal go-to for all financial questions, and she’s here to share her knowledge with all of you! SPONSORS AAPA Career Central: aapa.org/careercentral CREATED COLORFUL CONSULT: https://createdcolorful.myshopify.com/discount/TRACY  Code: TRACY⁠  CONNECT WITH SARAH Email: [email protected] LinkedIn: linkedin.com/in/sarah-miller-pa-va/ RESOURCES Previous episodes in Back to Basics Money Series:  283: Back to Basics: Meet Sarah 287: Back to Basics: What Actually IS Investing? 290: Back to Basics: Traditional versus Roth - What’s the Difference? 293: Back to Basics: The Best Investments for Long-Term Success ChooseFI: https://choosefi.com JL Collins: https://jlcollinsnh.com The Bogleheads Guide to Investing  The White Coat Investor: https://www.whitecoatinvestor.com Physician on FIRE: https://www.physicianonfire.com Amanda Holden - Invested Development: https://www.amanda-holden.com Liz Thames - Frugalwoods: https://frugalwoods.com Jamila Souffrant - Journey to Launch: https://journeytolaunch.com Tiffany Aliche - The Budgetnista: https://thebudgetnista.com Mad Fientist: https://www.madfientist.com COACHING ⁠1-ON-1 NEGOTIATION CONSULT https://calendly.com/the-pa-is-in/negotiate⁠  ⁠FREE 30-MINUTE COACHING CONSULT⁠ ⁠https://calendly.com/the-pa-is-in/gen-call⁠   LINKS EPISODE BLOG POST https://www.tracybingaman.com/blog ⁠TRACY ON INSTAGRAM https://www.instagram.com/mrstracybingaman/⁠ ⁠TRACY ON LINKEDIN https://www.linkedin.com/in/tracybingaman/⁠ SUPPORT THIS PODCAST: https://podcasters.spotify.com/pod/show/thepaisin/support