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Retirement Discussions / FIRE Wannabees
|Subject: Re: FIRE checker for Fools||Date: 8/14/2003 6:12 PM|
|Author: dsemmler||Number: 395 of 5144|
What I am wondering is how many of you have kids. I feel like I am at a disadvantage in accumulating wealth because I had kids at a (fairly) young age. (I won't go into how little about money management/saving I learned from my parents.)
I own the book The Millionaire Next Door but have not read it yet. Perhaps I should make the time to do so.
Karen, I am 27 (will be 28 in about a month) and am married with two kids. My kids are 4 (he will turn 5 about a month after my BD) and 2. My wife is a SAHM so I am the only wage earner in our family.
Within the last few years we paid off all of our credit card debt and now our remaining debt (mortgage, student loans, vehicle) is all at relatively low interest rates. As such, we have now been able to focus more on our plan for saving and investing. In addition, last year I was presented with an outstanding opportunity at a new job that has essentially doubled my salary. That has helped tremendously!
I recommend reading the book. I also have a copy but am planning to re-read it as it has been awhile. There are some good principles in the book and it can open your eyes to some new things.
I am quite a way from FIRE but we are working on our plan and making steps towards our goals every day! Join us and share your thoughts, concerns, and experiences!
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