Originally Posted by YoungSaver
$400k is my current magic number, however $500k is probably more realistic. $500k * 4% = $20k annual. 40 years old is the "I'm dreaming" age, however retirement at 50 is very realistic. I eventually see myself living overseas 4-5 months out of the year and coming back to the US to work part time for 7-8 months. So ideally I need to accumulate $400k in 20 years. That's possible, but I enjoy my freedom and am not motivated to work extra hard to make it happen by age 40. The extra hard route involves a night job and a roommate.
That's me. I look forward to being a member of this website.
I wish I found this forum YEARS ago. I'm turning 40 this year and between 30 and 40 a lot changed... mostly married, family... and that changes EVERYTHING. However LBYM will pretty much always work so keep that up and you can achieve your goal.
Luckiest thing I ever did was marry an SO that has the same goals I do. We NEVER fight about money and I've seen friends and family ripped apart by this. We just live a good life, value experience over stuff, drive older cars, take cheap vacations and avoid environments where there is a lot of conspicuous consumption.
When I was 24 I had an internet company that was doing pretty well, I bought a new BMW and thought I was the SH*T. Then the market crashed and it all went bye bye. That BMW was like a noose around my neck for 2 years. After that I became a dedicated LBYMer and started making much better financial and career choices.
But I'm amazed at how much the right counterpart (or if you can't/don't want one) no counterpart matters in the equation.
Maybe there should be a FIRE dating site :P