Author Topic: did i miss that post?  (Read 3034 times)

payitoff

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did i miss that post?
« on: March 14, 2014, 11:46:31 AM »
i have read all MMM posts but i dont remember or find anything that he wrote about being a mustachian in the later years. were mid-30s and still nowhere near a good enough stashe to retire early., much worse we are still on debt repayment for about 3 more years. are we too late? will we be working till 65 now?

Iron Mike Sharpe

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Re: did i miss that post?
« Reply #1 on: March 14, 2014, 11:53:23 AM »
You'll need to figure that out on your own.  How much do you need to retire?  How much are you investing each year?  How fast will your investments get you to your Magic Number?

lolzmonster

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Re: did i miss that post?
« Reply #2 on: March 14, 2014, 11:57:14 AM »
Hi 2wakeful flea, to be honest whether you can retire early or not depends on you. Remember MMM's post about the simple math of early retirement? Yeah. If you manage to save 50% of your income , even if three years later, I'd say you're still way ahead of the vast majority.

Anyway the main thing would probably be to stay focused on getting out of debts and saving what you can :) otherwise best of luck

NumberCruncher

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Re: did i miss that post?
« Reply #3 on: March 14, 2014, 11:58:18 AM »
Never too late :)

If you post a case study here, we can give advice on where to cut spending and maybe even how to make more money (finding opportunities, marketing yourself, etc).

It depends on how willing you are to make changes, like the others have stated.

payitoff

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Re: did i miss that post?
« Reply #4 on: March 14, 2014, 12:10:25 PM »
i have a journal and started getting aggressive on paying down debt this year. so far we are setting aside 43% towards debt repayment, after 3 years, this will all go towards retirement, pre tax and after tax.  based on MMM's how much is too much in your 401k post: we need to have $250k in our 401k account to earn about $40k/year which is our goal by the time we retire. but since we only can contribute $17500/yr towards 401k (hubby dont have 401k offered at work), this will take us 13 years, and plus 30 years to mature that will make me 78 years old by then -_____________-

i think i am just thinking too much.

payitoff

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Re: did i miss that post?
« Reply #5 on: March 14, 2014, 01:05:59 PM »
found this: http://www.mrmoneymustache.com/2013/07/10/if-i-woke-up-broke/

this is a good start, for anyone who's on the same boat 

Prairie Stash

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Re: did i miss that post?
« Reply #6 on: March 14, 2014, 10:15:13 PM »
I'm mid 30s too. You didn't miss anything. You're fine.

Post details and people can offer tips to accelerate. Or pay off debt exclusively, that will work too. The only caution is to make sure you utilize tax strategies and pay attention to interest rates vs. investment returns.

Zaga

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Re: did i miss that post?
« Reply #7 on: March 15, 2014, 07:55:09 AM »
The best time to plant an oak tree is 20 years ago.  The second best time is today.

So yes, you can do this!  Your oak tree (stash) will start out small, but you'll get there!  And I'd still bet on you retiring before you're 65 :-)