Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (11) | Ignore Thread Prev | Next
Author: texandesi Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 5087  
Subject: Re: <$0 to FIRE in 15 years? Date: 1/4/2004 4:36 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0

So, to recap, we have $13k in debt, a mortgage and land payment, about $10k in a 401k, and $100 in an efund (yeah, you read that right, $100). What we want, is in 15 years, to quit working for "the man", and live comfortably on a self employed income until we "really" retire. Is this doable, or do I need to rethink some of my dreams?


After you pay off your loans, you will need to have savings that will provide the initila seed in your business. Assumign you will not be profitable straight off the bat, you will need to take in considertaion the debt load arising from the clothing inventory and the cost of running a business. You can consider yourself FI when you have no loans except those for your business and your business is generating profits. You can say you are RE when your assets work on sustaining your net worth without active management by you.

- TD
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (11) | Ignore Thread Prev | Next

Announcements

Kiddie Card Board
Should kids have their own credit card?
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:
Apple

Apple Watch and the Rational Mind
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 Glassdoor #1 Company to Work For 2015! 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.
Advertisement