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I'm currently 29 and have approx 100k in savings. My projections have me saving approx $2.5M-$2.8M by the time I'm 50 (based on my budget, interest on savings and forecasting out).
This puts me in the ballpark of 100k/yr. Hoping I can pull this off!
Keep in mind, projections are just that...projections. Things can change and life can get in the way. Try have a plan that you stick to but need to maintain flexibility in case things change.
Goal is probably $10-12M by mid 40s. Currently at 700K at 27 (exclusive of equity which hopefully at IPO is worth 3-4M).
Wife is worth about $1m and also 27.
Will likely retire in SEA / Taiwan / Japan.
Congratulations my man, admiring the discipline!
100K is 2.5 million, 40K is 1 million (based on 4% withdrawal rate on your investments). It’s is expected your investments grow more than 4% a year
Could you point me towards those bonds? I don’t know of any that don’t have a risk of defaulting above 2%
Coach
We're on track for about $8.5M at 55, which will most likely allow us to have a higher standard of living in retirement than we do now, since we pretty much have the same standard of living we did when I was a SC making $90k.
We'd initially planned to retire in our late 40s (we're both 39 now), but given the massive uncertainty around future higher ed costs and the prospect of putting at least 2 kids through college, we've decided to push our retirement back until our current youngest is at least a freshman or sophomore in college.
Coach
No nest egg, this is all 100% self funded.
Sure, go ahead and PM.
Currently 29 with $2.5M household net worth. Aiming for $10M by 40, $20M by 45.
Nah
When matters, too.
40k today is the same as 60k/yr in 20yrs or 80k in 30yrs assuming 2.5% COL.
At 3% COL, that’s 68k and 92k respectively.
Coach
5m at 50, but I will probably retire at 3m. Part of that includes me retiring in a lower col country though.
I love it! Keep pushing that’s an awesome idea
4.8MM Fat Fire. Based on estimated cost of 4 person family with health insurance, a couple nice vacations per year, and some buffer for general uncertainty. Saving aggressively, and will be out as soon as I hit that number!
Aiming to not having a mortgage payment, planning to settle in Cleveland, OH (low cost where all my family is), and trying to hit by 45. Currently 24, so depending on when I have kids and what happens in the markets, anything could happen, but better to have a rough plan based on educated projections then no plan!