Anyone in their mid to late 40s and reach FI? In my mid 30s and want to ensure I am on track. Some days feel like I’m doing fine and on track while others it’s hard to project with tons of variables. I am looking for perspective for those that have the benefit of looking back ten years (and didn’t get a massive windfall) how things moved for them, impact of compounding, other factors that lead to your success?

Posting as :
works at
You are currently posting as works at

Need more info. If I was single, might be able to hit that mark. But with kids it’s tough. Income, spending, assets, liabilities, family plans? All relevant info.

Happy to provide more information but was looking for perspective. With so many variables wanted to start to identify those and hear a little bit about journeys. Kids are a big variable but also something you can necessarily control. Currently no kids but would like to have kids. HHI of $400k, NW 1.7m, debt of $950k, saving $125k, monthly exp about $13k.

Im 49 with a NW of about $1.9M and a pension that i can begin at 55 that will pay around $2500/month. If i wait til 65 it will pay around $4500/month. My plan is 55. Putting away almost $40k/year between 401k and investments. Finally done with paying for kids education which was about $220k. Only debt is low interest mortgage of $250k (which i wish i had financed more) and a car payment.

I’m guessing your monthly expenses are high because of the massive debt you carry. And/or you live on either coast. My advice is if you want to retire early, don’t waste money on expensive homes, boats, toys’ etc. If the interest on the debt is high, I’d focus on paying that off ASAP.

Related Posts

Big sister on the left is not happy she has to share the bed. 🤣🤣🤣

Post Photo
likefunny

What is the package for credit manager in ICICI bank having YOE 1.5 years

Need help on how I transition my career from Audit to Management Consultancy. I have only completed BCom and ACCA (UK Chartered Accountant) and have worked for over 2 years at EY.

like

Has Capgemini started work from the office ? because I got an offer of 9 lpa they said it will be the next 2 years of work from home itself.

My preference is WFH because family dependency there.Capgemini

Should I join on the basis of their comment that it WFH for next 2 years ?

like

With the way airfare is rising, is it ridiculous to buy tickets for a Christmas trip right now?

I'm looking at flights to Miami for about $450 on American and I don't think I'm likely to get a better deal.

like

Saw a marketing specialist role at KPMG Toronto and a marketing associate role at Deloitte Toronto. Currently in marketing at BCG. Could someone help provide me with a referral?

like

Any idea how to claims for goods movement in Wipro

I am new joiner to Wipro

any budget limit for this

Anyone have an OB/GYN rec in the Cambridge/Somerville area?

like

Any recommendations for nice coffee shops good for a first date?

like

KPMG India which office in Mumbai for FRM team?

like

Is having a pet in the city too much of a hassle? Thinking of getting a pure bred Husky

like

It’s snowing today and I’m not ready for it, mentally at least.

like

Is this bowl still alive? How’s everyone doing in quarantine? I feel the additional stress from covid is lowered by the relief of having fewer social obligations

like

@Infosys Tomorrow is my onboarding and still not received any onboarding link 😔😞… Feeling very bad… And even nobody is responding from Infosys Launchpad team
Infosys

like

Hi, I posted in the Partner bowl, but that tends to be more US centric so haven’t received a response. Anyone know what the total comp is for a new partner at RSM?

like

Has anyone currently in Seattle lived in Atlanta ? I'm looking for a first hand comparison of the two cities , before considering job opportunities in Seattle. Will make a trip too, but thoughts?

likehelpful

I’m starting to slowly get into product marketing at my job, eventually fully transition in product marketing. I’d love to get some advice on how to best work with a product team and build a relationship. Seems like our product is never quite ready (new features, updates, etc)

like

Male, 24

It is that time in life for me to buy new socks - not work socks, just every day socks. I prefer low / no show. Don't want to break my bank but also want socks that'll last.

Recommendations appreciated! Thanks in advance!!

like

I truly will never get people who turn the AC on full blast but will be fully wrapped up in blankets and complain that they’re cold.

like

Can someone please refer me in VMware?
Skills-Java,SpringBoot,Microservices.

Additional Posts in Personal Finance Bowl

Best ETF to invest in? I’m 24 looking to invest about $50k and don’t know where to put it. Nothing that’s super high cost or risky please

like

Best high yield savings products?

like

My boyfriend and I make 200K combined and live in NJ. We have $1000 in monthly car payments combined. That’s all we owe. Our credit scores are in the 800s. We have 50K to put down on a home. We have done the math and I know we can afford much more but he doesn’t want to buy more than a 400K home. I’m almost positive we can afford 500K and be more than ok. But then he starts to talk about how much kids cost and how we will be house poor and we won’t be able to afford kids. 🤔 Am I insane??

like

Have about 5k to invest - should I do FXAIX or FSKAX?

like

accountant said he needs my IRS pin to e-file. Can anyone confirm this is legit?

like

Debating between a few travel cards and need some opinions. Debating between Capital One Venture, Venture X and Amex Green card.

Live in a non major city with an international airport, but need to be flexible to different airlines. Which of those cards, or other cards out there, would be best

Need advice. Have some credit card debt that I’ve been working to pay off. Have made progress but want to lower it quickly. We have dual income, with a house (~$300k in equity), 1 kid and 1 on the way. I’ve looked into debt consolidation via HELOC but also have ~$80k in vested equity in my company that I haven’t touched. Get equity refreshes every year. Would it be smarter to cash out $15k-$20k of that to pay debt vs. a HELOC at ~5% given that will still require mthly payments

like

Anyone have a recommended tax person in Chicago?

like

I stopped contributing to my 401K for the last three months in order to pay off credit card debt. I am 28 and have about 68K in my 401K. Was this a smart decision? I want to get out of debt as quickly as possible and I have no student loans or car debt.

like

Under contract for nearly 1.1M. Wife and I are at HHI $315k. Will go up in the future, $400k in 3 years and $500k possible in 5-7 years. We have $300k in non-retirement funds, $260k of which will go towards acquiring the house. We have 2 kids and will probably reduce (not maxing) retirement accounts next 18 months to do this. Anyone have any thoughts or feedback? We’ll have to live on a budget and watch but I feel we’ll get used to it and income will grow.

like

Google stock to buy now or after the split?

like

I recently joined a company after being self employed. I’m on hubs’s health insurance. We have no kids. It’s United healthcare. The company offers United as health insurance. What’s the best way to compare plans? I have not been in this situation before so apologies in advance if this is a dumb question.

like

I spent the last 3 months "growing up" & now I'm ready to go. 1st thing is for me to get my own place. I'd like to buy instead of rent because I don't want to pay someone else's mortgage.

I'm thinking of selling my car & cash out some of my 401k to buy a house. My thought is to put down 3.5% for a FHA loan then make a big payment towards the principal to reduce long-term interest.

Anything wrong with this thinking or anything else I should consider?

Have an acquaintance who is a single mom; she purchased a used car 3 mos ago. Six wks later her 17yo wrecked it, air bags deployed, and estimates have ranged between $10-$18k in needed repairs while $21k is still owed. Acquaintance was switching insurance policies and flubbed the coverage dates and there were a few days where the vehicle was uninsured. No GAP insurance. I'm not seeing many options for her besides to continue pmts, fixing just enough to drive or voluntary repo. Thoughts?

like

Vanguard Digital Advisor ( 4 ETFs, 0.15% fee) vs HSBC Financial Advisor (15-20 funds, 1.5% fee) which one to go for nest egg growth 100k starting

What’s a good baseline amount to keep in a checking account? I generally keep mine pretty low <1000 after paying CCs then dump the rest in savings. As I’m building a rainy day fund and then I will start contributing my brokerage account.

For reference <1 year experience at $4500/month (after taxes and 401k contribution)

like

Recommendations for a good auto lender in NJ area? Looking to buy/lease a car

like

I have a LOT of credit card debt. It has just grown over time and I can’t find my way out. I’m considering debt consolidation, specifically a company called National Debt Relief which seems legit but I’m just so hesitant because I’m scared to make my situation worse. Or a personal loan to pay off all the CC debt and then have a smaller all in one payment. I’m intelligent and I work in finance, it’s so embarrassing. HELP.

like

24 yr old, 110k TC, maxing out Roth IRA and Roth 401k, no debt or large expenses. Also have ~35k sitting in a bank account. What should I do with that money?? Am I better just sitting on it for a while then watching it shrivel up in my brokerage account?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal