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-   -   Anyone in the age group of 30-39? (http://www.early-retirement.org/forums/f30/anyone-in-the-age-group-of-30-39-a-22378.html)

xmanz3 07-29-2006 09:33 AM

Anyone in the age group of 30-39?
 
At what age are you planning to retire?

What is your retirement plan and how is your net worth today?

Where are you planning to retire?

Calgary_Girl 07-29-2006 06:54 PM

Re: Anyone in the age group of 30-39?
 
Hopefully by 55 at the latest (DH is 36 and I'm 34).

We currently max out our retirement plans and also save an additional $3,500/month in taxable accounts (current balance about $600K between retirement and taxable accounts). Our net worth broke the magical psychological barrier of $1 million a few months ago (whoo hoo!) and is currently about $1.1 million (includes the house).

We live in Calgary and we plan on staying here. We'll most likely downsize and travel in the winter to warmer climates.

xmanz3 07-29-2006 07:25 PM

Re: Anyone in the age group of 30-39?
 
I'm planning to retire at 50 and I'm currently 32 (DW 34)

Currently investing on ROTH IRA, 401K, Mutual Funds and I'm also starting to buy Real estate property.

Net worth: $188k

I'm planning to retire in Atlanta, GA and have a second property in Puerto Rico or somewhere warm. We are planning to travel and spend time in both places.




claire 07-30-2006 04:44 AM

Re: Anyone in the age group of 30-39?
 
Hi I am 33 and my DH is almost 40. We are planning to retire in 4 - 5 years time. We aim to have half a million pounds ( i live in the uk, i think this is close to 1 million USD). At the present we have 100k ish in cash, 100k pension and 200k ish equity in our property (remember i am talking in sterling)

we save about 2,000 per month.

But we have faced the reality that on that sum we it is unlikely that we will be able to remain in this country, cost of living is soo expensive. we will prob have to go and live in spain or we are looking into living in the US in the south atlantic states.

Also it does not benefit us to live here because of tax implications.

brewer12345 07-30-2006 07:39 AM

Re: Anyone in the age group of 30-39?
 
32 (me) and 33 (DW). I am hoping to hang up my spurs in my 40s. A lot depends on my next several bonuses....

Arif 07-30-2006 08:51 AM

Re: Anyone in the age group of 30-39?
 
I'm 33 and semi retired now but plan to fully retire by 40 if all goes according to plan. Of course if you ask my wife I will never retire as I like what I am doing now (real estate) and there's no need to stop at some arbitrary number. She may be right as I have enough free time now to do pretty much what I want but things change and so do plans.
Right now we are living in Panama and will probably stay here for awhile. My financial plans are to have enough that if we decide to move back to the US we could afford the jump in cost of living.

wabmester 07-30-2006 01:15 PM

Re: Anyone in the age group of 30-39?
 
Quote:

Originally Posted by claire
... we are looking into living in the US in the south atlantic states.

Also it does not benefit us to live here because of tax implications.

Come on down, Claire!* *I never though about the US being a cheap place to live, but you're right.* *Given what's happened to the dollar and our current tax structure, we should be seeing mass immigration from European and Japanese retirees!

accountingsucks 07-30-2006 01:51 PM

Re: Anyone in the age group of 30-39?
 
Quote:

Originally Posted by xmanz3
At what age are you planning to retire?

What is your retirement plan and how is your net worth today?

Where are you planning to retire?

I am 30

Plan to retire at 51

Plan is to invest approx. $40,000 per year aggressively for 15 years and for remaining 5 years switch to fixed income investments. My net worth is approx $350,000 including paid off home that is worth about $300,000 (so far retirement saving has been comprised to pay off mortgage early)

Plan to retire where I live in Edmonton, Alberta and I am a Chartered Accountant

Scrooge 07-30-2006 02:23 PM

Re: Anyone in the age group of 30-39?
 
Quote:

Originally Posted by wab
Given what's happened to the dollar and our current tax structure, we should be seeing mass immigration from European and Japanese retirees!

Just keep in mind that what goes up will come down and v.v. ;)

Retireinmy40s 07-30-2006 08:02 PM

Re: Anyone in the age group of 30-39?
 
I am currently 33 and wife is 33 and we plan to retire at 47. Our current net worth is about 62K in two Roth's, two 401K's and a mutual fund. We invest 600 a month. We also have about 120K equity in our house.

Most of our retirement will be covered by my military pension.

We plan on retiring in San Antonio, Tx or Corpus Christi, Tx very low cost of living and doing a lot of traveling.

bongo2 07-30-2006 08:20 PM

Re: Anyone in the age group of 30-39?
 
I'm 35. On my optimistic days I think I'll retire around 42-45. Other days it's more like 50. Sometimes I think instead of sticking it out to retirement I'll change careers to something more fun in 3-4 years when I have some nice equity vesting my way. Who knows? We are putting away almost 50% of my income, and have about 3 years income / 10 years expenses in the bank right now.

ash 07-30-2006 09:33 PM

Re: Anyone in the age group of 30-39?
 
I'm 36, hope to be able to semi-retire by age 40, which in my book simply means that I can work on only things I truly enjoy. Won't start pulling an income from investments however until probably 55 or so.

claire 07-31-2006 03:27 AM

Re: Anyone in the age group of 30-39?
 
Thanks Wab! im doing some reasearch into living somewhere like the carolinas or georgia etc, property appears to be very reasonable.

The cost of living here is high as are property prices but the wages are not high. If it wasnt for immigration/work permit issues we would come sooner.

brewer12345 07-31-2006 07:19 AM

Re: Anyone in the age group of 30-39?
 
I have a very simple spreadsheet that I update once or twice a year to forecast my retirement date. It assumes 10% constant returns and 4% constant inflation. I update the assumed savings every time I do it to reflect my best guess. As of now, it has me crossing over the line of FIRE eligibility in 2016.

saluki9 07-31-2006 07:50 AM

Re: Anyone in the age group of 30-39?
 
Quote:

Originally Posted by brewer12345
I have a very simple spreadsheet that I update once or twice a year to forecast my retirement date. It assumes 10% constant returns and 4% constant inflation. I update the assumed savings every time I do it to reflect my best guess. As of now, it has me crossing over the line of FIRE eligibility in 2016.

6% constant real return? Is that after taxes?

I thought I was an optimist! ;)

brewer12345 07-31-2006 08:25 AM

Re: Anyone in the age group of 30-39?
 
Quote:

Originally Posted by saluki9
6% constant real return?* Is that after taxes?*

I thought I was an optimist!* *;)

Like I said, it is a very simple spreadsheet - not meant to be sophisticated or even very realistic. However, returns don't make as much difference to my FIRE date in this sheet as the amount I forecast to be put away every year.

Oh, and yeah, I think 6% real is more than doable for my portfolio. I am a fairly aggressive investor and the majority of my assets are in tax deferred accounts, although more will be taxable as time goes on.

peggy 07-31-2006 08:48 AM

Re: Anyone in the age group of 30-39?
 
Quote:

Originally Posted by xmanz3
At what age are you planning to retire?

What is your retirement plan and how is your net worth today?

Where are you planning to retire?

I'm 38; DH is 45.

We're planning to semi-retire in 2010 (my age = 42; his = 49) and fully retire by 2018 (my age = 50; his = 57).

Currently our net worth is just over half a million dollars (home equity included), and we're invested in various stock funds. We haven't shifted over to any fixed-income instruments other than CDs for a portion of our emergency fund.

As for where to retire, our first move (the semi-retirement phase) will likely be to Washington state or Colorado. The plan is to use the equity in our existing home to buy a home free and clear (or else with a minimal mortgage). Any future moves are open for negotation.

mosaic 07-31-2006 09:16 AM

Re: Anyone in the age group of 30-39?
 
i am turning 30 in a month. Net worth of close to 400k canadian dollars. Goal is to live abroad 8 months of the yr by the age of 40. By 35 goal is to strictly manage my paper portfolio and real estate holdings...

semtex 07-31-2006 11:04 AM

Re: Anyone in the age group of 30-39?
 
I am 35, DW 34. Our FIRE target is in 8 years with next worth 1M. Original plan is 10 years. Since I joined hedge fund recently, under u guys suggestion, it may speed up a little. ;D

SLC Tortfeasor 07-31-2006 01:54 PM

Re: Anyone in the age group of 30-39?
 
Wow, well I feel like a big loser compared to the rest of you here. I'm 30, with a net worth of about $90k.

I'm not sure I want to be fully retired until I'm at least 70 -- I think it will be good for me to have a little something going on workwise no matter how much money I have. But I'd like to leave the rat race and just work part time at low stress, relatively fun jobs in my mid 40s. My plan is to save and invest as much as possible between now and then.

Where do I plan to retire? Not sure at this point.


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