Milestone Achieved - 600K Networth

[atfourty]

Guys,

Today I crossed a significant (I think ?) milestone : NetWorth over 600K.

Here is our situation:

My age 32,My wife's 29.

Home Equity(Primary Home + Rental Property):183K

Business Partner shares value : 100K

Non-Retirement Investments + Cash = 145K

Retirement Investments=175K

***Total Annual salary:155,000.
Total Annual Expenses : 40,000


My Goal is to retire at the age of 40, (Comments)

Thanks for letting me share this.

 

[Keim]

You are doing great. Keep up that outstanding savings rate and I think your goal is reasonable.

Don't forget to enjoy life in the process!

 

[Gabieta]

Congratulations on reaching a significant milestone!

 

[atfourty]

Guys,
Given my current status, can y'all comment on whether i can retire at 40?

 

[REWahoo]

Guys,
Given my current status, can y'all comment on whether i can retire at 40?

Sure you can, but can you stay retired beyond age 55? That's the question you should be asking FIRECalc...

 

[SunGuy]

Very nice! Hope I can get to a similar point some day.

 

[travelover]

Wheee! ....Uh..Oh..........

 

[retire2020]

Guys,
Given my current status, can y'all comment on whether i can retire at 40?

I would not count value of my house for retirement calculation and would plan for 3% yearly withdrawal starting at age 40(for 40K...I'll need to have 1.32M). How much you would invest from now until retirement and may be 6% annual return on investment will tell you if you're on track...plug in the no in FireCalc.

 

[obgyn65]

Well done, OP!