Re: post 3186 by FoolMeOnceAs someone who successfully retired 4 years ago at age 38 with a wife and four kids, I think having a magic number is COMPLETELY necessary.If current USA statisics are accurate, only 2% of individuals and 4% of American families have a net worth of $1M or more. Much of this net worth is tied up in costly real estate and businesses that require the "millionare" to continue to work like a madman.Thus, the potential early-retiree continually finds that he never has enough to get out of the rat race. In the meantime, the clock is ticking.Retiring early is like shooting a gun, if you don't have a target or your target is always moving around, you'll never pull the trigger and you'll never retire.For the 99.99% of us that are not filthy rich, the key to retiring early is mainly a funcion of COSTS.Before I retired, I used to have the same worry of "is it big enough?" Luckily, I have several real-life early retired friends who patiently assured me that what I had was indeed "big enough".Looking back, I probably could have retired 3 or 4 years earlier than I did. I delayed "pulling the trigger" torturing myself and my family with the same questions many of you have.In summary, retiring early is simply function of cost control and having a reasonable nest-egg goal to cover those costs. Think of it as jumping off the high-dive for the first time.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra