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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.