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Milestone Achieved - 600K Networth
09-13-2013, 03:48 PM
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#1
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Dryer sheet wannabe
Join Date: May 2011
Posts: 22
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Milestone Achieved - 600K Networth
Guys,
Today I crossed a significant (I think ?) milestone : NetWorth over 600K.
Here is our situation:
My age 32,My wife's 29.
Home Equity(Primary Home + Rental Property):183K
Business Partner shares value : 100K
Non-Retirement Investments + Cash = 145K
Retirement Investments=175K
***Total Annual salary:155,000.
Total Annual Expenses : 40,000
My Goal is to retire at the age of 40, (Comments )
Thanks for letting me share this.
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09-13-2013, 03:50 PM
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#2
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Location: Moscow
Posts: 1,572
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You are doing great. Keep up that outstanding savings rate and I think your goal is reasonable.
Don't forget to enjoy life in the process!
__________________
You can't enlighten the unconscious.
But you can hit'em upside the head a few times to make sure they are really out...
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09-14-2013, 03:10 PM
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#3
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Recycles dryer sheets
Join Date: Jul 2012
Posts: 51
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Congratulations on reaching a significant milestone!
__________________
~Gabi
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09-14-2013, 06:11 PM
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#4
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Dryer sheet wannabe
Join Date: May 2011
Posts: 22
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Guys,
Given my current status, can y'all comment on whether i can retire at 40?
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09-14-2013, 06:14 PM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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 Quote:
Originally Posted by atfourty
Guys,
Given my current status, can y'all comment on whether i can retire at 40?
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Sure you can, but can you stay retired beyond age 55? That's the question you should be asking FIRECalc... 
__________________
Numbers is hard
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09-14-2013, 08:28 PM
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#6
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Recycles dryer sheets
Join Date: Dec 2007
Location: Jacksonville
Posts: 99
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Very nice! Hope I can get to a similar point some day.
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09-15-2013, 11:36 AM
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#7
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
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Wheee!  ....Uh..Oh..........
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09-17-2013, 03:14 PM
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#8
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Recycles dryer sheets
Join Date: Sep 2012
Posts: 459
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Quote:
Originally Posted by atfourty
Guys,
Given my current status, can y'all comment on whether i can retire at 40?
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I would not count value of my house for retirement calculation and would plan for 3% yearly withdrawal starting at age 40(for 40K...I'll need to have 1.32M). How much you would invest from now until retirement and may be 6% annual return on investment will tell you if you're on track...plug in the no in FireCalc.
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09-17-2013, 04:25 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
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Well done, OP!
__________________
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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