Your FU# (FU Number) is specific to you and is the amount of money you need to have invested so that your passive income will cover your daily expenses. If you haven’t already, check out our FU# Calculator to see how much you need to save to fund your abundant life!
Now that you know what your FU# is, lets jump into how we calculate it and how you can easily save this money with the Evviva System!
How We Calculate Your FU#
The FU Tool uses a series of inputs to give you your personalized FU#. We use millions of data points from US Census data, geographical indices from financial analyses, historic stock market performance, as well as your given birthday and habits to calculate what your specified life will cost you on average each year.
Once your FU# is determined, you will also receive a breakdown of what you need to invest each month to meet your FU# by your 40th birthday. This number will be broken down into 2-4 sub-values depending on if you are the sole breadwinner or if you have a partner helping you build to financial freedom.
401K Match
On the left side of the tool, you will see how much your 401K will match for you and your partner. The 401K match is free money that your job will put into your account, matching your investment. This is calculated based off the average starting salary of roughly $60k and average 401K match of 4.5%. These numbers are drawn from Forbes and Investopedia.
This means that if you make more than the average salary, or your company matches over 4.5%, you can make even more free money for towards your FU#. So, make sure to set up your 401K when you start working!
Monthly Gap
On the right you will see you and your partners monthly gap. This is how much you will need to contribute out of pocket. You will see that a family of 4 with a monthly contribution of $1200 breaks down to roughly $350 per working adult each month.
We will show you how to easily meet your monthly contribution number by cutting useless costs with our Papercut Calculator and making extra cash with Side Hustles!
What’s Next After I Get My FU#?
Think of your FU# as your target; it is the finish line that marks financial freedom. Now that you have your FU# it’s time to start your journey to financial freedom!
The 7-Minute Budget And The Fast 5 Foundation
The next step to reaching this finish line is to do your 7-Minute Budget and set up the foundational accounts you need to make your money work for you. With the Evviva system, you can make personal financial management so easy that it only takes 7 minutes a month to stay on top of things. This is thanks to the Fast 4 Foundation, which is mad up of high yield savings accounts, investment accounts and high interest checking accounts. We’ve partnered with amazing institutions to get you amazing interest rates.
Check them out now!
Investing Your Way To Freedom
With the correct foundational accounts there are three main ways to reach your FU#. These are maxing your 401K, reducing Papercuts, and Side Hustling.
Utilizing Your 401K
Utilizing your 401K will be the easiest way to get tons of free money to put toward your FU#, so make sure to set it up once you start working!
While in college, you can still make a huge dent in your FU# by reducing Papercuts and Side Hustling thanks to compounding interest. To show the power of compounding interest, $1,000 grows to nearly $90,000 over 40 years at the historical S&P500 performance of 11.88%.
Reducing Papercuts
Papercuts are everyday expenses that do not add value to your life. Things like buying lattes and vapes can be reduced or removed, saving you millions over your life. A simple $6 latte every day actually costs you over $2.2 million over 40 years. By trimming that down to once a week, you save roughly $1.9 million.
Check out our Papercut Calculator to see how much your Papercuts are costing you!
Side Hustling
While Papercut reduction saves you money, Side Hustles will put more cash in your pocket. Here at Evviva we have curated and proven Side Hustles that are broken down into 3 simple categories based on level of difficulty and earnings potential. It’s as easy as browsing for what looks interesting and then selecting a Hustle to try. Our guides will help you get up and running in no time.
Check out our article – Side Husting With Evviva to learn more about what hustle is best for you!
You’ve Got This!
Now that you have your FU# you have a target to work towards. Set up your high yield accounts to make passive income with the Fast 4 and get started on your journey to financial freedom with Papercuts and Side Hustles. We’re so excited to go on this journey with you. Join the Discord to meet others on a mission to be Free By 40 and meet great friends.
Welcome to Evviva and the Free By 40 Movement!
