Young, Fortunate, & Eager (27-year old's dream to give back))

[nerdyJON]

Quote:

Originally Posted by Live And Learn Way to go ! Like you I started planning my early exit when I was 22 years old ! I started saving for retirement my first day of full time post college employment. I always saved half my raises (which helped me avoid lifestyle creep) and all my bonuses (except for 2 - one for a big "bucket list" vacation and one to buy a small boat). I retired at 53. I now use my time and talents to serve others. I do also donate money, but I do it within my means, keeping to my 3% withdrawal rate. The first million is the hardest and you are well on your way. Congrats !!

Exactly where I want to be when I am 53, retired with a small boat, and serving others. Thank you for the extra motivation!

[nerdyJON]

Life updates
Busy past 1448 days according to the warning of an old thread
2 kids added to the mix (put a damper on savings due to childcare costs)
Multiple job movements
Continued goal and path to FI
Moved to a new house

Debt
No credit card debt or student loans
Main property, 15 year - $220K loan ($450K+ in equity)

Cash/Investments
$45K in cash (slight decrease due to other saving methods)
$231K in taxable investments
$10K in HSA investments
$131K in ROTH IRAs
$40K in Kids college 529s
$570 in 401ks (maxing out)

Total NW: ~$1.47M with personal property

[The Cosmic Avenger]

Thanks for following up, nerdyJON, it's always good to see other forum members making progress towards their goals!

Now you've got me wondering what I said in my "Hi, I am..." post. I do comment in the Milestones thread, but it would be interesting to see where I was when I joined!

[Time2]

You are doing great! Congratulations.

Have you picked an income level for retirement that you will be happy to live on yet? The often suggested number of 25 X, however you're very young and have two kids that may go to college, so I would shoot for higher than that. Also, do you plan on staying in that house? If you are, [I] would not count it as part off my net worth. I dropped mine out of my net worth about the time I reached $1M.

[nerdyJON]

Quote:

Originally Posted by The Cosmic Avenger Thanks for following up, nerdyJON, it's always good to see other forum members making progress towards their goals! Now you've got me wondering what I said in my "Hi, I am..." post. I do comment in the Milestones thread, but it would be interesting to see where I was when I joined!

Perfect! Moving to Milestones thread.

[nerdyJON]

Quote:

Originally Posted by Time2 You are doing great! Congratulations. Have you picked an income level for retirement that you will be happy to live on yet? The often suggested number of 25 X, however you're very young and have two kids that may go to college, so I would shoot for higher than that. Also, do you plan on staying in that house? If you are, [I] would not count it as part off my net worth. I dropped mine out of my net worth about the time I reached $1M.

No retirement income level because I want to get my sons up to college - great goal for 2022. To be decided, we always want more in life but VERY happy where we are now. For now we see it as a home for next 5-10 years.