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I know the answer to these questions is almost always it depends or no but I would be curious to know what people think.

Current net worth is about 80k. Age 33. Renter with no plans to buy

The 80k works out as follows:
45k - Retirement Accounts
16k - Cash Efund High Interest Account
9k - Stocks
6k - Stock Buying fund
4k - Short Term Cash/Bank Acct

No debt, credit card or otherwise. Car in good shape no need for any major expenses forseen. I'm also single and no kids.

My biggest vice is that I spend 5k each year on a nice vacation. No immediate plans to change that.

I make about 55k/year currently. I currently save 10% for the retirement accounts. My goal is to retire early/mid 50's with at least 1million total net worth excluding a home if I buy one.


Hi Roland465,

I used intercst's FIRE calculator:
http://www.retireearlyhomepage.com/software.html

to estimate whether you are on track. Caveats: I had to guess at a lot of stuff, like your expected longevity, your state income tax rate, your investment expenses, your expected salary increases, your living expenses in retirement etc. AND this calculator ignores completely any social security or pension money.

That said, with the inputs I guessed at, the FIRE spreadsheet suggests that at your current savings rate you will be able to retire at age 65, with about 1.4 million.

You might want to download the spreadsheet and play around with it, to get an idea of what an increase in your savings rate could buy you in terms of years shaved off of FIRE.

Not many 33 year olds can boast being debt free, let alone saving in a disciplined way; I think you have built a strong foundation and you're in a good position to increase your savings rate if you are so inclined.

FIgirl
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