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Step 10: Prepare for Contingencies and Emergencies
Ensure you have plans in place to handle unexpected events or financial emergencies. Maintain an emergency fund to cover unforeseen expenses and consider appropriate insurance coverage. Being prepared safeguards your progress towards early retirement.
By following the FIRE Method and implementing the steps outlined above, you can take control of your financial future and retire early. Start today by setting clear financial goals, saving aggressively, increasing your income, making informed investments, managing debt, and regularly tracking your progress. With determination and discipline, early retirement is well within your reach!
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