Author Topic: New Job  (Read 2039 times)

dafoe1999

  • 5 O'Clock Shadow
  • *
  • Posts: 50
New Job
« on: February 25, 2014, 05:09:59 PM »
Just got a new job making 125k a year. How do i achieve financial independence in 10 years with this pay? I have 125k saved in retirement currently.


FIPurpose

  • Handlebar Stache
  • *****
  • Posts: 1579
  • Location: WA
    • FI With Purpose
Re: New Job
« Reply #1 on: February 25, 2014, 05:13:50 PM »
Save 100k / year achieve FI in 5 years.

Do It.

ch12

  • Pencil Stache
  • ****
  • Posts: 593
Re: New Job
« Reply #2 on: February 25, 2014, 08:48:43 PM »
It depends on what percentage of your after tax take home you spend.

http://networthify.com/calculator/earlyretirement?income=125000&initialBalance=125000&expenses=42500&annualPct=5&withdrawalRate=4

If you have anything near Mustachian expenses, you're looking at a handful of years before retirement, not 10.