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The Money Mustache Community
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New Job
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Topic: New Job (Read 2604 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.
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FIPurpose
Handlebar Stache
Posts: 2061
Location: ME
Re: New Job
«
Reply #1 on:
February 25, 2014, 05:13:50 PM »
Save 100k / year achieve FI in 5 years.
Do It.
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ch12
Pencil Stache
Posts: 592
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.
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The Money Mustache Community
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