For those of you targeting early retirement, or financial independence and working for yourself, what's your number and what age are you considering? Personally I'm shooting for $3MM and 45.
RangerRick9211 said:
$2.5MM at 40 with the house paid off.
Currently well on pace, but adding our first money sucker to the family in 4 months. So we'll see how the transition from DINKs impacts things.
R/financialindependence has been a fun FIRE community to participate in for anyone interested.
AgBank said:
10 to 15 million, 4 million in after tax in liquid securities. 529s with 80k.
Maybe my 50s? I am slowly ramping.
wessimo said:
Judging from increased media coverage in recent years it seems like FIRE is going mainstream.
It will be interesting to see if it has a noticable impact on the workplace and the economy.
Financial independence means saving 25x what your yearly expenses. Now everyone might not be able to save that much over 20-40 years, but I'd be willing to bet that 80% of Americans could if they wanted.Ag13 said:wessimo said:
Judging from increased media coverage in recent years it seems like FIRE is going mainstream.
It will be interesting to see if it has a noticable impact on the workplace and the economy.
I doubt it because while it's a good idea the majority of Americans still have little to no savings. I would think those that can even sniff fire are in the top 1% when it comes to savings.
I'm a bit more generous, I say 3% are on their way to financial freedom. As Jim Rohn always said "Walk away from the 97%, it's crowded at the bottom. There is plenty of room at the top.". Further, I and my wife are living proof that anyone is capable of learning and growing wealth.Ag13 said:wessimo said:
Judging from increased media coverage in recent years it seems like FIRE is going mainstream.
It will be interesting to see if it has a noticable impact on the workplace and the economy.
I doubt it because while it's a good idea the majority of Americans still have little to no savings. I would think those that can even sniff fire are in the top 1% when it comes to savings.
Just curious - are your expenses really 200k a year or are you just using a higher number to play it super safe?Wife is an Aggie said:
$200K/yr at 3.5% withdrawal rate = $5.7M
752bro4 said:
What types of investments are you guys looking into or involved in that will bridge the gap from retirement to when you can withdrawal from 401k/IRAs? Our biggest hurdle will those 12 +/- years.
Cash-flowing real estate is the obvious/easy answer. Any other sort of post-tax investment strategies?
Return in the market? I think the S&P has returned 10% over the long term including inflation.Ed Carter said:
I'm curious, what rate of return do you guys use for your retirement planning? I'm using 3% real For long term planning
Would you prefer the term "crotch fruit"?AgBank said:
"sex trophies"
LOL
The Wonderer said:Would you prefer the term "crotch fruit"?AgBank said:
"sex trophies"
LOL
SoupNazi2001 said:TexasAg21 said:The Wonderer said:Would you prefer the term "crotch fruit"?AgBank said:
"sex trophies"
LOL
My brother always used the term leeches as they suck your time, money, energy and your wife's sex drive away.