Assuming you have maxed out tax advantage account you can always deposit more into a taxable brokerage account. That is the simplest way.
The problem you'll have with this question is that you don't state any specific goals. Financial freedom is pretty vague. If you have goals then you can make a plan. If you have no goals then it's tough to advise. House? Kids' education? Big wedding one day? Tons of travel? Form goals then work backwards to create a plan.
If you just mean early retirement then the math is actually fairly simple. Estimate the length of retirement, estimate a safe withdrawal rate (4% is often used as a starting point), estimate required income in retirement.
So, say you need $40k/year as income. A 4% withdrawal rate means you need $1MM (40k/0.04) in retirement accounts for an approximate 30 year time horizon. That's a rough picture. You can look into specifics like tax strategies, etc.
alex_o_h t1_j25glrw wrote
Reply to Ratio of Saving vs Investing by random_curiosity_guy
Assuming you have maxed out tax advantage account you can always deposit more into a taxable brokerage account. That is the simplest way.
The problem you'll have with this question is that you don't state any specific goals. Financial freedom is pretty vague. If you have goals then you can make a plan. If you have no goals then it's tough to advise. House? Kids' education? Big wedding one day? Tons of travel? Form goals then work backwards to create a plan.
If you just mean early retirement then the math is actually fairly simple. Estimate the length of retirement, estimate a safe withdrawal rate (4% is often used as a starting point), estimate required income in retirement.
So, say you need $40k/year as income. A 4% withdrawal rate means you need $1MM (40k/0.04) in retirement accounts for an approximate 30 year time horizon. That's a rough picture. You can look into specifics like tax strategies, etc.