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Old 09-02-2012, 11:26 PM   #1
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IN 2025, I will be 55. That is our goal. I know it is quite a few years away, but it is never too early to plan!! Hope to have 2M saved by then.
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Old 09-05-2012, 02:58 AM   #2
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Welcome to the forum, Stephanie.
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Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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Old 09-09-2012, 08:25 PM   #3
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Hi Stephanie and welcome. Tell us about yourself. There are lots of people here that can give you great advice because of living through the hard knocks of ER themselves.

Cases
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Old 09-09-2012, 09:35 PM   #4
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I am 42 as is my husband. we have a 12 year old. I have 2 rental properties. One doing well, the other was hit by Hurricane Katrina and am very underwater (no pun intended) on that property. Paid 170K for it, owe 125K and would be lucky to get 90K on it. Plan to sell our primary residence at 55 and move to this property for at least 2 years. We both put 15% in our 401k. 13 years left on the mortgage of our primary residence, though should pay it off in 12. Other than that NO consumer debt at all. LONG to retire at 55, and am hopeful I can gather enough info here to MAYBE do it at 50. We would be fine working part-time. We want to travel quite a bit.
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Old 09-09-2012, 10:17 PM   #5
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You sound similar to myself and DH. That is a good plan with your rental house so you can avoid the cap gains on investment property. Our rentals did well though we were happy to get rid of them when we did. Have you thought about ER health care costs and covering your ER expenses until you can tap into retirement funds at age 59 1/2?

Cass
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Old 09-10-2012, 06:11 PM   #6
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Welcome Stephanie. If you read the posts of those who have gone before us (ie, successfully ER'd), they all seem to have a defined "plan", that barring disaster, is fine tuned along the way. So I think you are on the right track, never too early to start planning. I have control issues (ha ha) and this forum has exacerbated this condition so that now I make spreadsheets on finances....helps with the planning. Out of curiosity, was your Katrina damaged rental in SE Louisiana or south MS?
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Old 09-10-2012, 10:31 PM   #7
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CMH-we have started taking a deeper look at the finances to make we have insurance and living expenses covered

BIGE-our property is in MS.
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