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Re: Retire before age 50?
Old 03-06-2005, 03:02 PM   #1
Recycles dryer sheets
Join Date: Jan 2004
Posts: 159
Re: Retire before age 50?

Hi there, and welcome to the board!

I would suggest trying firecalc, which you can reach by clicking on the link at the top of this page, or by going to

A very simple approach that would probably be accurate enough for your purposes now (since you're probably 10 to 15 years away from retirement anyhow) is to:

a. Figure out what your annual expenses will be when you're 48. A good guess is what you're spending now increased by inflation for every year between now and then.

b. Figure out what that teacher's pension will be worth when you're 48. Probably take your current salary, increase by your average expected wage between now and then, and then multiply by that 45%.

c. Subtract (b) from (a).

d. Multiply (c) by 25. This is the amount your retirement savings needs to be at 48. Note that you'll need to not include the kids' college $ and not your home equity unless you are willing to do a reverse mortgage or something.


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Re: Retire before age 50?
Old 03-06-2005, 04:54 PM   #2
Dryer sheet aficionado
Join Date: Mar 2005
Posts: 31
Re: Retire before age 50?

thanks for the reply. I moved my post to the introduce yourself forum since I thought it was a more appropriate place. Thanks for the website info.

Using the simple approach you provided, I'd Imagine:
(a) would be around 65 G minus
(b) of around 40G for a total of
(c) around 25G times 25 =
(d) of around 625 G needed at age 48 to retire.

Interesting formula. Thanks a lot.
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