A big fan of the FIRE movement and a person who does NOT want to work till 70 years old, I am writing this thread also as a sign post for me and to share with others what I plan.
I am starting work now, graduated from college, no debt (EU). Will have same living conditions for 1 year as a student with full work pay (doctor)
Income after tax: 40k per year *for the first year, then it goes up
Expenses: around 12k (in the first year, then around 20k)
I will be saving between 50/70% of my income monthly!~
According to the calc with a withdrawal rate of 4% - I need 16 years to retire. Which is nice, but it does not take into account that my pay will practically triple in 15 years time.
So realistically, as long as I keep at it, I am looking at a 10-15 year retirement plan with my goal being to retire in 2035, just before my 40th birthday !!! After that, I can take a position at 1/4 the time or whatever and still add to my income if needed, but I doubt it will be necessary (I will have achieved peak career status and performance at about 35)
So how does it look from the side? Is it realistic? Am I still daydreaming, or is this feasible?
I am starting work now, graduated from college, no debt (EU). Will have same living conditions for 1 year as a student with full work pay (doctor)
Income after tax: 40k per year *for the first year, then it goes up
Expenses: around 12k (in the first year, then around 20k)
I will be saving between 50/70% of my income monthly!~
According to the calc with a withdrawal rate of 4% - I need 16 years to retire. Which is nice, but it does not take into account that my pay will practically triple in 15 years time.
So realistically, as long as I keep at it, I am looking at a 10-15 year retirement plan with my goal being to retire in 2035, just before my 40th birthday !!! After that, I can take a position at 1/4 the time or whatever and still add to my income if needed, but I doubt it will be necessary (I will have achieved peak career status and performance at about 35)
So how does it look from the side? Is it realistic? Am I still daydreaming, or is this feasible?