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Anyone else into Bank Bonus churning?
Decided to payoff my mortgage.
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Original goal was $5M by 55 (excluding 2 homes) with no debt and 3 kids thru college. We hit that goal this year at age 54. I’m retiring this week and partner will work a bit longer with ongoing $400k+ income from employment for another year or 2.
Congrats!
$2.5M by age 45. I factored in a 3.5% withdrawal rate, healthcare costs, and a buffer for market swings.
Coach
Folks telling others on this bowl that $100k a year isn’t adequate is very tedious.
$10M at 45. Planning to coast there once I hit $7M at 40.
Great job that’s awesome. Thanks for the context. Out of curiosity if you scaled back how would you coast?
$6M investable assets between 53-56. Paid off home and ideally vacation condo somewhere.
$7M
Currently on track to hit that around 43-45 years old
$5M invested across 401k and non-retirement assets, age 52.
primary home paid off, 2 rentals operating in the black both nearly paid off
400k and this year
$6.1 M
48 years old
So beautifully precise. Please explain?
I'm still pretty new in my FIRE journey. I didn't even know it existed until recently, to be honest. Now I'm doing research and figuring out my target numbers. Ideally I would like to be completely financially independent by 50, even if I don't necessarily stop working. But we shall see.
4m in investments at 45 years old. I exclude home equity from that 4m number.
$3.33M investable at 40 (100k/year at 3% withdrawal rate).
It includes retirement accounts