Author Topic: Are we on the right track?  (Read 1678 times)

saywhatnot

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Are we on the right track?
« on: January 19, 2015, 03:44:52 PM »
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.
« Last Edit: January 19, 2015, 03:51:22 PM by saywhatnot »

wtjbatman

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Re: Are we on the right track?
« Reply #1 on: January 19, 2015, 04:31:29 PM »
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!

MDM

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Re: Are we on the right track?
« Reply #2 on: January 19, 2015, 05:06:57 PM »
As wtjbatman says, it looks good.

Try www.cfiresim.com and/or the spreadsheet downloadable here for more details.

wtjbatman

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Re: Are we on the right track?
« Reply #3 on: January 19, 2015, 05:18:15 PM »
As wtjbatman says, it looks good.

Try www.cfiresim.com and/or the spreadsheet downloadable here for more details.

+1

You have the numbers, your best bet will likely be to model your own scenarios.

saywhatnot

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Re: Are we on the right track?
« Reply #4 on: January 19, 2015, 05:25:43 PM »
Thanks for the responses.  I will  use the tools provided.

sleepyguy

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Re: Are we on the right track?
« Reply #5 on: January 19, 2015, 05:27:27 PM »
Mortgage will be gone at some point, and so will daycare.  That 70k/yr will drop drastically.

You are in fine shape.