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Sooo AMC.. who’s in?
😂
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I’m not saying 45 is the right age, it would have been early for me, but to directly answer your question, here is what worked for me. Take a cold hard look at the age that people die in your family, then do a min-max lifespan for yourself based on that. Once you are certain you have enough $ to live out your days and leave behind what you plan, carefully consider for what and why you are selling your remaining life. When you are 55, you were 35 only 20 years prior, and that will seem like a blink of an eye. 20 years forward and you’re 75, which goes even faster. That will give you the courage. We are only immortal for a limited time.
AlixP1- if you play your health and fitness cards right, the good years can easily stretch to 70. (Dr. Peter Attia’s concept of healthspan in his book Outlive). Don’t write yourself off early! My financial advisor said retired people have go-go 60’s, slow go 70’s, and no go 80’s. My quality of life and fitness after 55 exceeds what I had in my 40’s. Your mileage may vary.
Coach
When you’ve figured out what you’re retiring to. Also when you hit FI, the amount of BS that you’re willing to handle goes down and one day you might decide it’s no longer worth the $$.
Also - consider how many healthy years (health span) you have left. Even if you might live to 90 and beyond, how many of those years are actually healthy years in which you can pursue your own interests? Have a close look at your family and see when they stop traveling or start having mobility issues. Is it in their 60s or 70s? Or are they really fit and they’re still hiking and traveling in their 80s?
That gives you an idea of how many healthy years you might have left.
You can pull the trigger right now if you want to
In a very similar boat - we’re about 10 years away from hitting our number (will be mid 40s) as well, but then it turns into “well if we can hold out for 3 more years we can put a down payment on a house for each of our kids… if we hold out for 8 more years we’ll be able to set up trust funds and 529s for all future grandkids without blinking…”
I’m so burnt out
Subject Expert
Make a retirement plan of how you would spend and what you would do with each number.
Reflect on whether the one with more money is worth working ten years longer.