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Retirement Discussions / FIRE Wannabees
|Subject: Re: When did you realize and where are you now?||Date: 8/6/2003 3:07 PM|
|Author: TrudyPhool||Number: 24 of 5138|
I realized I wanted to stop working when I had my baby. That's when it hit me, that my priorities had changed.
I am 32. DH is 31. I have always put the maximum in my 401K since I started working in 1995. So I have a good chuck of money so far because of that. My company has a very generous match, so I am watching my money grow.
Currently, we save about 10% of our pre-tax salary, all in 401K. My company contributes another 10% of my salary, so that helps enormously. Outside of that, I have a small emergency fund, but no IRA.
I am currently in frantic debt-repayment mode. I project I will be rid of unsecured debt by this time next year. After that, I need to start saving for our retirement, and for my son's college fund. I also intend to have more children, so that adds to the bottom line of course.
I would like to retire by age 50. I don't know if this is possible, but that's what I'm shooting for.
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