Message Font: Serif | Sans-Serif
 
No. of Recommendations: 1
1. How much do you need in order to declare yourself financially independent?

I have relatively expensive tastes when it comes to activities. Such activities as golf, fishing, skiing, and travel will require a sum of money. In retirement, I expect I'll need at least $50k if not more in current dollars.

2. How do you plan to get there?

Investing through stocks and mutual funds. Currently I do not have the time or desire to own my own investment property.

3. How close are you (years from goal and % of money you still need)?

That's difficult to say. I plan on paying for my kids' college education so it's hard to project what that will cost. Also our lives have changed so much over the years. Everytime I project a goal, I find my estimates to be way off. For example, I estimated an income goal which would take 5 years to obtain. It took only two. That's the good part. I also estimated the size of our retirement accounts. With the decline of the stock market, it's below that goal right now. Not so great.

Therefore, I'll keep trying to save more, spend less, and reevaluate my goals as time goes on.

IF
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
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.