So can I retire at 45?

[youbet]

Originally Posted by accountingsucks

So in summary I can save around 55K per year. Am I on crack in thinking that 45 is doable? Worst case scenario is that I would at least stop working full time and only work part time to cover my expenses and to let my nest egg grow. This is an option that is also appealing.

This has been an interesting thread.

My opinion of your situation is that when you reach 45 you should have reached FIRE. If not, you can stand in front of the mirror and look at the person who failed to execute what should have been a no-brainer. Yes, you can retire at 45, just don't screw it up!

[nun]

Originally Posted by youbet

This has been an interesting thread.

My opinion of your situation is that when you reach 45 you should have reached FIRE. If not, you can stand in front of the mirror and look at the person who failed to execute what should have been a no-brainer. Yes, you can retire at 45, just don't screw it up!

55k/year for 15 years at 6% should give you a nest egg of $1.2M. That, with a paid off house, should easily let you take $27k (18k today inflated over 15 yeasr at 3%). However, being comparatively young I think your life and plan will probably change before you get to 45. That being said you're goal is good and you are setting about it well. I'd take your 55k/year and put 80% in index funds, some Canadian, some US and some International and the other 20% into MM to build up a cash reserve.

[excellent]

By the time you're 45 the situation regarding the environment, energy sources, and the global economy will be vastly different. Noone can look into the future, but hopefully it will work out for you regardless. Have a good day!