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Aiming to retire at 50...
Old 07-24-2007, 03:07 PM   #1
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Aiming to retire at 50...

According to Firecalc I have an 80% success rate but I think I should be able to increase my savings rate fairly significantly over the next few years so I think it's understating my chances. Oh, I'm 39 now.

My wife and I both have good jobs and live below our means so we are saving about 40% of our income (counting employer 401k contributions etc.). House is paid off and our newest car is a 1998 so we don't have too many bills we need to pay each month. We want to have a comfortable lifestyle in retirement, however, (travel, second home maybe) and my back of the envelope calculations show we would want about $100k per year, so that's a goal of $2.5M.

Still need to work on asset allocation - way too heavily invested in large cap equities but I have been doing some reading and will be refining my investment strategy and doing some significant rebalancing in the next few months.

Anyway, I just wanted to say hi and that I look forward to learning more about what I need for FIRE over the coming months and years!
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Old 07-24-2007, 09:37 PM   #2
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Wow! I wish I had been where you are financially at age 39. (Maybe one of my "problems" was that at age 39 I had 7 kids. Maybe another was that I had been at a real job for only 6 years when I was 39.) Sounds like you're on pace for a nice retirement at age 50. Go for it! And welcome to the forum.
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Old 07-26-2007, 08:16 PM   #3
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Hi Trirod, welcome to the forum. There is a vast amount of information on this board from hundreds of folks that have reached for the Brass Ring and ripped it loose from the jaws of conventional thinking on retirement.

Spend some time reading some of the older threads on the various forums and search on items that you wish to know more about. Chances are it has already been discussed.

FIRE (Financially Independent; Retired Early) is a mindset and takes guts and good planning to get there and make it work. Good luck in your quest for the Brass Ring.
Work? I don't have time to work....I'm retired.
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Old 07-26-2007, 08:53 PM   #4
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Originally Posted by trirod View Post
Anyway, I just wanted to say hi and that I look forward to learning more about what I need for FIRE over the coming months and years!
Welcome. You've done well.

At the risk of stating the obvious (but knowing many have goofed) don't forget 3 things: factor in taxes for all withdrawals from sheltered accounts; don't forget to include inflation (which FIRECalc does for you); and don't forget health insurance which can be difficult to get and expensive if you do get it.

Sounds like you are on your way.
San Francisco Area
ESR'd March 2010. FIRE'd January 2011.

As if you didn't know..If the above message contains medical content, it's NOT intended as advice, and may not be accurate, applicable or sufficient. Don't rely on it for any purpose. Consult your own doctor for all medical advice.
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