The Motley Fool Discussion Boards

Previous Page

Retirement Discussions / FIRE Wannabees


Subject:  Re: Net worth/net income ratio stories. Date:  8/21/2003  9:37 PM
Author:  mazske Number:  526 of 5246

I feel as if I'm way behind and way ahead at the same time!

Oh boy, do I ever know this feeling. Actually, it seems I always feel as I'm way behind everyone, but I know in actuality I'm not. However, from reading these posts on this board, I may be behind most of the FIRE Wannabees.

I have saved approximatly .5X of our gross annual income. We are both in our mid 30's and I hope, no, will be FIRE'd in less than 15 years.

The way that I'm going to do this, if all goes according to plan, is that I have two pensions that will play a big part in my FIRE plan. If either of these pensions falls through, then there goes my plan.

I am still saving about 14% of my gross income, but it seems over the past 3 years I went from having about 1X my income to now .5X our gross income. Of course, our gross income is larger now than it was 3 years ago, but still......

I'm staying the course though. Slow and steady and I'll get there.

Of course, I am modifying my plan slightly and I plan to incorporate some rental properties into the mix. That day of buying the first one may still be anywhere from 1-3 years away, but it'll come.

We will gross about 47K this year. Hang on....I'm going to start a new thread.

Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us