Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Re: Anyone in the age group of 30-39?
Old 10-05-2006, 09:28 PM   #81
Dryer sheet aficionado
 
Join Date: Jul 2004
Posts: 29
Re: Anyone in the age group of 30-39?

Quote:
Originally Posted by Jay_Gatsby
Holy crap. $2.3 million in your 30s It sounds more like (d) was the most important factor. LBYM doesn't get you that kind of money so quickly.
It was a bit of (a) through (d). I'd say (d) accounted for some but less than 25%. I will admit some luck in my wife working for the right high-tech start up (Cisco) during the late 90's and buying a house in the Bay Area. The remainder was made through hard work, frugal living and good investments.

I have friends that make more money than us and have little to show for it. They spend as much as they make. The problem is when something calamitous occurs in their life -- health problem, losing job or bad luck. Once you get in a hole it is difficult to dig out.

Mike
__________________

__________________
MikeK is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Anyone in the age group of 30-39?
Old 10-08-2006, 11:55 AM   #82
Recycles dryer sheets
 
Join Date: May 2004
Posts: 495
Send a message via AIM to yelnad Send a message via Yahoo to yelnad
Re: Anyone in the age group of 30-39?

Quote:
Originally Posted by Arif
Some 4 yo wants to play hide and go seek while I am on the toilet.
My dog does this. He's also 4 yo.
__________________

__________________
Yelnad --"What you're paying for is an education, not a room at the Sheraton,and sometimes that education is uncomfortable."- Jim Terhune, Dean of Student Affairs, Colgate University
yelnad is offline   Reply With Quote
Re: Anyone in the age group of 30-39?
Old 10-11-2006, 03:41 PM   #83
Full time employment: Posting here.
shiny's Avatar
 
Join Date: Jun 2005
Posts: 673
Re: Anyone in the age group of 30-39?

Quote:
Originally Posted by yelnad
My dog does this. He's also 4 yo.
My dog does too, he's 15 though!
__________________
I'm made of atoms, you're made of atoms, and we're all in this together. Ben Lee
shiny is offline   Reply With Quote
Re: Anyone in the age group of 30-39?
Old 10-18-2006, 05:02 PM   #84
Dryer sheet wannabe
 
Join Date: Oct 2006
Posts: 15
Re: Anyone in the age group of 30-39?

Hello. Wow, some of you are really kicking butt in your journey to ER. Congrats.

I'm 37YO, married, make $126K US per year, own a home worth $200K with no mortgage. I've got $205K socked in the 401K, and $110K or so in private investments, mostly mutual funds. I live in an upper mid-West college town associated with badgers, but I'm not sayin' which one. In retirement I plan on living pretty modestly. Not a lot of travel, maybe one class per semester at the U solely for intellectual fun. Still, a safe bet would be $3,500 per month, maybe more - and this includes all home upkeep over time and the used auto purchase once every ten years, blah blah blah.

I've got a ways to go before my private savings can get me to the point where I can live at leasdt a little while off the interest. If I were to retire in my late 40's or 50, I would want to leave the principal alone at least for a few years - until I got closer to being able to use the 401K $.

Again, congrats to all you super-early retirees.
__________________
Southpaw is offline   Reply With Quote
Re: Anyone in the age group of 30-39?
Old 10-19-2006, 11:09 AM   #85
Confused about dryer sheets
 
Join Date: Oct 2006
Posts: 5
Re: Anyone in the age group of 30-39?

Hi,
First time poster, long time lurker.

I just turned 39. Wife is 33. We were just married in June. I've been working for the same company for 13 years. DW works for the state and is an ex-highschool teacher. No kids for now.

I save about 35-39% of what I make. I've managed to squirrel away 85k in my 401k and about 14k in roths on a pretty modest salary through those years, especially the first few. Another 47k in taxable mutual funds. This was and continues to be funded through stock option gains and monthly, after-tax contributions.

No debt except for house. DW will have a state pension if she stays for 10 years or longer. I hope to be living off my mutual funds at 50 and painting full time. The 401k and Roths will kick in at 60. That's my plan so far. Kids will change the equation I think, but luckily I've got a good head start.

Cheers to all that drank the cool-aid.
__________________
zebageba is offline   Reply With Quote
Re: Anyone in the age group of 30-39?
Old 10-20-2006, 08:17 AM   #86
Dryer sheet wannabe
 
Join Date: Oct 2006
Posts: 15
Re: Anyone in the age group of 30-39?

We've come a long way, but there's still so much left to go.

Oh well, gotta make it happen......
__________________
Southpaw is offline   Reply With Quote
Re: Anyone in the age group of 30-39?
Old 10-22-2006, 04:35 PM   #87
Recycles dryer sheets
 
Join Date: Aug 2004
Location: Metro DC Area
Posts: 134
Re: Anyone in the age group of 30-39?

I'm 27 (not quite 30) and I have a net worth of $230K. I plan to retire from federal service between 48 and 62. I may take on additional jobs after that as I just don't know what I'd do without a regular job.
__________________
daystar is offline   Reply With Quote
Re: Anyone in the age group of 30-39?
Old 10-26-2006, 05:09 PM   #88
Dryer sheet aficionado
 
Join Date: Mar 2005
Posts: 32
Re: Anyone in the age group of 30-39?

Our situation.

Wife (35) and I (33) teach in public schools. 3 kids (5, 4, and 1 month).

Only debt is $194,000 left on the mortgage (30 year fixed at 5.375% that we'll have paid off by the time I turn 47 if we keep adding extra to the principal at the current clip).

Approximate rainy day fund in bank (CD's and Money Market) totalling $40,000.

Both of our vehicles are getting older (99 Grand Cherokee and 00 Mercury Villager) so we need to have some same - liquid money just in case.

Approximate retirement investments (mutual funds in 403-b and Roths) totalling $200,000

Approximate non retirement investments (mutual funds and DTE stock) totalling $165,000

Approximate educational investments for kids (Coverdell IRA's and 529's) totalling $35,000

Currently, the wife and I are putting away 24 Grand a year total while she's on maternity leave...
12 Grand in 403-B accounts
4 Grand apiece in Roth accounts
2 Grand towards each of our older children's college accounts. We haven't started for the 1 month old yet... but need to soon.

For me... the plan to retire is at 48 years old. That's when I'll be eligible (as long as things remain how they are now) for a pension (45% of my salary at the time) with close to full benefits. Wife will not be eligible for a full pension until her mid 50's due to time off with kids. She laughs at me when I say I plan on retiring that early. My reply is always wait and see... wait and see.

I'm fairly confident that with 14.5 years to go, I should be able to pull it off. Heck... if we don't invest another dime and the market performs close to its historical average over the next 14.5 years, we should have well over 1 million dollars in investments. It's the cost of college that scares me the most. My parents paid for my college (and I'm eternally grateful for it), so I'd like to do the same for my kids and let them start out in the working world as debt free as possible.
__________________

__________________
piranha is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Anyone in the age group 40-49?? FinanceDude Young Dreamers 79 03-21-2007 08:41 PM
Does retirement spending decrease with advanced age? JustCurious FIRE and Money 24 01-23-2007 12:29 PM
Stone Age Newborns~27,000 years old mickeyd Other topics 0 11-21-2006 12:44 PM
Group health coverage for ER's? Cb FIRE and Money 40 05-31-2006 09:09 AM
Who picked age 65? mickeyd Other topics 28 05-25-2004 05:20 AM

 

 
All times are GMT -6. The time now is 08:09 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.