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29 and hopping to retire at 55
Old 02-15-2011, 09:59 PM   #1
Confused about dryer sheets
Join Date: Feb 2011
Location: APO
Posts: 1
29 and hopping to retire at 55

Hello all,

I am trying to retire when I am 55. I have other major goals in the time between then and now but overall that is my major goal. I am lucky enough to live and work in South Korea so I do not pay taxes. I am attempting to max out my 401k until I move back to America in 3-5 years. I am hoping this strong base and then about $5,000-$10,000 for the next 10 years will ensure I can retire at 55. I have been putting money away for about 5 years now.
One of my major goals in the next 5 years is have enough money to put a deposit on a house in San Diego when I leave Korea. I currently have about $35,000 now and I want to have $100,000 for the house when I leave. I am hoping to buy a house worth about $350,000 - $450,000.
One idea of mine was real estate, but due to the fact I live outside the country and wouldn't see the house before buying it I am kind of scared of doing that. I am starting to invest in stocks right now. I can not invest in a ROTH IRA so I am putting that $5,000 into stocks. I am 29 but everybody I work with is around 36-50 so they have a lot of experience to offer me.

Goal: Retire at 55
2015: Have $150,000 in retirement
2015: Have $100,000 for down payment for house in San Diego. (mix of savings and stocks)

I look forward to reading all the advice on this site. Hopefully in a few years I can offer some of my own advice.

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Old 02-16-2011, 02:17 AM   #2
Recycles dryer sheets
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Join Date: Apr 2010
Location: Green Valley
Posts: 232
welcome!!! Sounds like you're off to a great start. Can't help with RE, but if you LBYM, save like crazy and invest (bogleheads is a great site to learn about portfolio management/asset allocation, Otar's stuff is good too) you'll be well on your way to ER.

best of luck
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