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Re: Net Worth Benchmarks
Old 10-25-2006, 09:46 AM   #41
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Re: Net Worth Benchmarks

Well, that's a pretty interesting conclusion.

If you save 20 percent of your income and the increases over inflation in any raise that you get, Then you could retire in 22 years.

Work for 22 years and save hard and invest in assets that can grow (like equities). I think that fits many people on this forum.

something that you may want to consider is to make your plots with a log scale on the vertical axis. That way it is easier to see that the money is growing the whole time. Not just towards the end.
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Re: Net Worth Benchmarks
Old 10-25-2006, 08:07 PM   #42
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Re: Net Worth Benchmarks

Quote:
Originally Posted by MasterBlaster
Well, that's a pretty interesting conclusion.

If you save 20 percent of your income and the increases over inflation in any raise that you get, Then you could retire in 22 years.

Work for 22 years and save hard and invest in assets that can grow (like equities). I think that fits many people on this forum.

something that you may want to consider is to make your plots with a log scale on the vertical axis. That way it is easier to see that the money is growing the whole time. Not just towards the end.
In those 22 years, if you raised a family, paid off student loans, bought used cars every few years, purchased a house, lived a normal lifestyle, stayed out of debt as much as possible, and weren't downsized or laid off too many times, I suggest the average North American worker and their families would be much happier if they lived one day at a time, did the best they could,and aimed for a more realistic 30 or 35 years.
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Re: Net Worth Benchmarks
Old 10-26-2006, 08:00 AM   #43
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Re: Net Worth Benchmarks

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Originally Posted by Zipper
In those 22 years, if you raised a family, paid off student loans, bought used cars every few years, purchased a house, lived a normal lifestyle, stayed out of debt as much as possible, and weren't downsized or laid off too many times, I suggest the average North American worker and their families would be much happier if they lived one day at a time, did the best they could,and aimed for a more realistic 30 or 35 years.
I hear rationalizations often as to why other people can't save. As has been discussed on this forum many times, it takes quite a bit of effort and some sacrifices to retire early.

slepyhed laid out a plausible and do-able action plan for retiring early. That's what this forum is all about.
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Re: Net Worth Benchmarks
Old 10-26-2006, 01:05 PM   #44
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Re: Net Worth Benchmarks

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Originally Posted by MasterBlaster
slepyhed laid out a plausible and do-able action plan for retiring early. That's what this forum is all about.
In my case, a divorce and the 2000 market reversal extended the date, but without the original plan I would still be working...
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Re: Net Worth Benchmarks
Old 10-26-2006, 03:19 PM   #45
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Re: Net Worth Benchmarks

This is interesting. According to the graphs, I'm basically right on track with where I should be on the baseline. This is actually a little disconcerting, because I feel like I'm doing way, way more for retirement than any of my peers. And early retirement is so . . . far . . . away . . . .
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Re: Net Worth Benchmarks
Old 10-27-2006, 01:57 PM   #46
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Re: Net Worth Benchmarks

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Originally Posted by SLC Tortfeasor
According to the graphs, I'm basically right on track with where I should be on the baseline...
But nobody else is working to plan (well few others), so don't be discouraged. When you RE most of your peers will be incredulous.
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Re: Net Worth Benchmarks
Old 10-27-2006, 08:11 PM   #47
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Re: Net Worth Benchmarks

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Originally Posted by slepyhed
This graph shows what happens if you save your raises.
That's what I'm doing. And, as Nords said, when you are FI, it does take some of the pressure off. You feel you can walk out at any time!!!
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