Bankerwithabrain
Recycles dryer sheets
- Joined
- Feb 26, 2008
- Messages
- 78
I am 24 and currently work in Investment Banking. I work, on average, 70-80 hours a week. Life is brutal. The only thing that keeps me going is my dream of being FIRE'ed.
I am currently single, but I hope to raise get married and raise a family, around 4-5 kids (if I ever get out of work that is...).
Current financial situation:
Assets:$175k (divided in stocks, CD's and money markets)
Liabilities: $15k (low yield student loans)
Income: $125k/yr
I am trying to create a concrete goal of when I can retire. Both timewise and number wise. What year should I aim for? How much money do you think I will need to retire and be able to support a family of 6/7.
My spending habits are very good and I would say I saved about 60% of my salary last year. I do want to send my kids to a private school though which will end up being fairly expensive I imagine.
I am thinking a realistic goal is $1.2 million by age 30, but is that too ambitous?
I am currently single, but I hope to raise get married and raise a family, around 4-5 kids (if I ever get out of work that is...).
Current financial situation:
Assets:$175k (divided in stocks, CD's and money markets)
Liabilities: $15k (low yield student loans)
Income: $125k/yr
I am trying to create a concrete goal of when I can retire. Both timewise and number wise. What year should I aim for? How much money do you think I will need to retire and be able to support a family of 6/7.
My spending habits are very good and I would say I saved about 60% of my salary last year. I do want to send my kids to a private school though which will end up being fairly expensive I imagine.
I am thinking a realistic goal is $1.2 million by age 30, but is that too ambitous?