Hi all.
My wife and I have been working toward ER for several years now. As we continue to work toward our goal, it has struck me that a lot of our savings will be in Roth IRAs and our 401(k)s. Obviously, if we can't access our savings until we are ~60 years old, it kind of defeats the purpose of saving to ER (we are both currently under 30 years old).
Our idea of ER is to be able to work at whatever we want to and not have that decision impacted by the need to earn much $. We both plan to continue doing SOMETHING to earn a little extra cash during our ER, so that will help with our monthly income needs.
Our goal is to ER by the time we're 40. A couple years into it and we're right on track. (This amount seems OK to ER based on calculations I've done... any comments are appreciated.)
Anyway, how have y'all dealt with having a significant portion of your savings in "age restricted" accounts as part of your ER plan?
THANK YOU!!!
My wife and I have been working toward ER for several years now. As we continue to work toward our goal, it has struck me that a lot of our savings will be in Roth IRAs and our 401(k)s. Obviously, if we can't access our savings until we are ~60 years old, it kind of defeats the purpose of saving to ER (we are both currently under 30 years old).
Our idea of ER is to be able to work at whatever we want to and not have that decision impacted by the need to earn much $. We both plan to continue doing SOMETHING to earn a little extra cash during our ER, so that will help with our monthly income needs.
Our goal is to ER by the time we're 40. A couple years into it and we're right on track. (This amount seems OK to ER based on calculations I've done... any comments are appreciated.)
Anyway, how have y'all dealt with having a significant portion of your savings in "age restricted" accounts as part of your ER plan?
THANK YOU!!!