quote:
Some people are ecstatic earning 18% in a mutual fund in a year. If you are in this boat, you will probably retire in your late 60's and life a comfortable life assuming you stick to that plan.

Ehh.

I'm ecstatic with that and I'll be able to retire in my mid 40s if I so desired assuming historical AVERAGE market performance over the next 15 years. I want my retirement to be nicer than that so I'll almost certainly stay in the game for 10 years or so after I hit my FI number.

Depends on what you do. If you are a median or near median income earning household, investing what you can in solid, diverse mutual funds can lead you to a comfortable retirement, but probably not an early retirement.

If you are a high earner and you can follow the same plan and retire much earlier assuming you are dumping 30+% of your take home into investments.

This post was edited on 1/2/21 at 4:46 pm

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Posted by oneg8rh8r

Port Ludlow, WA

Member since Dec 2003

2712 posts

Posted on 1/2/21 at 4:47 pm to JohnnyKilroy

I hope everyone has financial success, but as you know it doesn't come easy.

Covid 19 will do more to widen the gap between people in different financial brackets than anything. Of the people I knew, the ones with great jobs could simply do them from home and kept on keeping on, if fact most saved money by not traveling to work, having to find daycare for kids, etc..... Those with lesser jobs either lost them had or had hours cut and forced some to pull money out of savings just to survive.

The financial market plummet in March put some people in the poor house and others on easy street. Because, unfortunately, many had money invested they really couldn't afford to lose and started withdrawls.

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