Downshift and still ER?

[LAL]

Can you retire saving only 15% of salary for retirement?   Let's say you've been saving  30% or more for a decade and now you want to move or change careers. So in way you've bought semi-ER or a downshift into something making less money but you don't have enough to retire.

And the new salary isn't really enough to continue saving at the same 30%+.  And you are 35 and were thinking ER by 55.  Do you think it's still possible to ER just saving 15%?

[deborah]

Depends on what your investments are doing, and how much income they are earning. If they are still headed toward retirement when you want it, do it. Many people go part time before they ER.

I never contemplated reducing my percentage - and some people would be giving themselves the wrong message. For a couple of years, I saved 100% of my salary for ER. This proved to me that I could last on my investments.

See if you can redo your budget to trim it down further as you trim your salary.

[CarDude]

It's possible, but you'd need to run the numbers to figure it out.

[nereo]

yes, it is certainly possible - even likely.  As others have said we'd need numbers to know for sure, but...

suppose at age 18 you starting putting $5500 into a ROTH every year, and you saved NOTHING ELSE.
at 7% returns you would be a millionaire at age 55 (adjusted for inflation).  at 4% SWR this person would have $40k/year of tax-free money to live off of for the rest of his/her life.  If he or she waited to retire until age 62.5 the portfolio would be worth $1.7M (a $68k/year retirement allowance)

Time is the greatest asset to investors.

[matchewed]

Run the numbers.

Simple calculator - http://networthify.com/calculator/earlyretirement?income=50000&initialBalance=0&expenses=20000&annualPct=5&withdrawalRate=4

or

More complex calculator - http://www.cfiresim.com/input.php

[LAL]

Considering moving and hoping to earn half of what we make now, $200k, but we're saving about 1/3 taxes, 1/3 spending, 1/3 savings. 
Our burn rate is ~$65k/year including mortgage which eats up $35k/year.  Ideally we'd like to move and lower our annual spending. We are a family of 4 currently and 34/36. Max out 401k, IRA, do Coverdell $4k total for kids, and then taxable savings for rest.

Retirement $500k, taxable accounts $150k, Cash EF $55k.  Debt - 2 car loans $2k and $5k @ 1.9%. We didn't start saving until late 20s when my DH finished graduate school.

I am hoping if we relocate to somewhere cheaper we could still save for ER.  But I don't know what potential salaries would be. And I don't know what age to even contemplate ER

[NeverWasACornflakeGirl]

It's definitely possible, and I myself am doing something similar -- quit full time work at 43 and will be working 10 - 15 hours a week as a consultant in my current field, then transitioning to a new field, still working part time.

As others have said, it's all about the numbers.  Good luck!!