The Most Motivating Financial Chart You’ve Ever Seen

More and more Americans aren’t saving enough for retirement —if they’re saving at all, including yours truly.

BUT…I can absolutely adjust my spending and this little chart shows the precise impact of spending less.

I think the real value of this grid is within the $40,000 – $60,000 income range. This is where most income earners are. If you earn $50,000 per year and you are spending $40,000 per year, it will take you about 36 years to reach financial independence. But if you can cut your spending to $30,000 per year you would reach financial independence in 21 years.

That’s a 15 year difference! (via)

Now THAT makes me feel a little less hopeless. Here’s the chart.

early retirement chart

This chart helped me visualize exactly how much I need to be saving (and equally importantly, spending) to live comfortably when I can no longer work. I won’t even use the word “retirement” because few people (again….yours truly included) may never be able to retire.

I hope this helped you! Read more details at The Simple Dollar.