I have been reading this website for a month and decided that it is time to become a member! My goal is to retire in 21 to 23 years and have an annual income stream of ~100k (in today's dollars). I am a lawyer and my wife is beginning medical school this fall(we are both 25). We are conservative spenders and believe that we can begin to save 30% of my salary (30k net). Four years from now my wife will earn about 50k annually for four years. Subsequently, depending on her specialty she will earn between 180k-400k a year. My salary should increase 10 annually for the first three years and then 20 for the next 4 years. After that it is anyones guess, but I could make up to 500k. For planning purposes, I assume I will not make less than 150k and will likely make around 250k-300k in about 10 years from now. We are super determined to ER and so long as our financial goals are met, we hope to be sailing around the world in our late 40's.
We have not saved a penny yet and will begin to do so in the Fall. I welcome all of your suggestions regarding how we should invest and your thoughts on the 100k a year goal, once retired. (I would like to have annually 100k adjusted for inflation when we retire) Some years we are likely to need less.
We have not saved a penny yet and will begin to do so in the Fall. I welcome all of your suggestions regarding how we should invest and your thoughts on the 100k a year goal, once retired. (I would like to have annually 100k adjusted for inflation when we retire) Some years we are likely to need less.