Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (7) | Ignore Thread Prev | Next
Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19483  
Subject: Re: Thought I was doing ok... Date: 6/20/2000 11:20 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
sillysally asks,

until I did the Millionaire Next Door worksheet.

I save the max 10% in a 401K (S&P 500) plan with a 6% match. I also max my IRAs every year (they are in stocks). I don't have credit card debt. I also purchase a couple stocks every year. I thought I was doing ok. I was surprised to learn that I spend more and save less than the avg. American.

What am I doing wrong. How much do I need to save? What did early retirees on this board do to be able to retire early?

I retired in 1994 at age 38. The last 4 or 5 years I was working I saved about 50% of my gross income.

I took "Millionaire Next Door" test you mentioned and based on what I was earning in 1994 when I retired and I got a ratio of 1.55.

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (7) | Ignore Thread Prev | Next


Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Economic Implications of Cuba
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.