The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: saywhatnot on January 19, 2015, 03:44:52 PM
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Hello!
Just wanted to know if you thought we were on the right track.
DH and I are 37yo
We have invested in the market 550k and we contribute $65k anually.
We would like to retire by 55. Is that realistic?
Our current expenses are $70k a year and that includes mortgage and daycare.
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Not nearly enough information for an accurate answer, but yes, it's realistic.
Start with 550k and invest an additional 65k a year for 18 years. Assuming your investments average a 7% real return, you will retire with around $4,200,000. Following a 4% SWR with that stash will give you $168,000 a year to live on. Congratulations!
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As wtjbatman says, it looks good.
Try www.cfiresim.com and/or the spreadsheet downloadable here (http://forum.mrmoneymustache.com/ask-a-mustachian/how-to-write-a-%27case-study%27-topic/msg274228/#msg274228) for more details.
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As wtjbatman says, it looks good.
Try www.cfiresim.com and/or the spreadsheet downloadable here (http://forum.mrmoneymustache.com/ask-a-mustachian/how-to-write-a-%27case-study%27-topic/msg274228/#msg274228) for more details.
+1
You have the numbers, your best bet will likely be to model your own scenarios.
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Thanks for the responses. I will use the tools provided.
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Mortgage will be gone at some point, and so will daycare. That 70k/yr will drop drastically.
You are in fine shape.