re: Retiring at 50 with $2MM in savings

I understand that.

I took it as $2mm cash.. maybe I misread/understood

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I took it as $2mm cash.. maybe I misread/understood

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You do realize that if money, meaning any money, is invested then it compounds over time? You will pay tax on gains, but this is also possible. Why do you believe it’s not possible?

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So 3/4 of a million mortgage? $1000 car payments? You have a very highly leveraged lifestyle. Most people won't carry that into retirement. I will not have a house payment or a car payment when I retire and move into my forever home, if I can help it. I pay off my credit cards every month, although I am using them more to accumulate perks/benefits. I want the simplicity and security of fewer bills and a less complicated financial footprint.

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Mortgage was around $660,000 or $670,000.

Cars for me are a problem. I’ll have my 2023 paid off soon and will start paying $2000 a month on my 2025. Both payments are under $900. Smart thing would have been to pay cash for my wife something around 80k but I wanted something fun so put 80k to $85k down with paid off trade and financed the rest for 60 months vs selling anything in my brokerage or depleting my HYSA’s too much.

I’m still maxing my 401k to get company match, wife is maxing her 401k to $24,500 and HSA to $4400. I’m backdooring a Roth for the max, buying stuff in my brokerage account and the rest goes into HYSA. Once I get above 6 figures in my HYSA I typically will move the excess into my brokerage.

I threw out retiring at 50 a couple years ago. I wouldn’t feel comfortable retiring at 50 with 4 million. I’m thinking 55 is the sweet spot. The house is my biggest concern but I could sell it and down size at that point.

It sounds like you’re not willing to do that, which is fine and a personal decision. It is, however, very possible.

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Cars for me are a problem. I’ll have my 2023 paid off soon and will start paying $2000 a month on my 2025.

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Pay off the 2025 and then start to pay yourselves the $2000/mo note into VMRXX or similar. If can afford the pay down ($2000), then can afford to save the $2000. Hold those cars an extra year or 3. Momentum is now yours.

Well, this worked for us. I am one who would rather 50 BMWs in my portfolio vs 1 in my driveway. I get that I may be “weird” that way. Financial freedom was the goal. Is glorious. Have one in driveway now.

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lol I’m willing… just not feasible

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Without sounding too harsh, then find a way to make more money.

Often, these conversations anchor to controlling expenses....but increasing income is equally as important.

That's what the 8 year bucket 1 is for. Buckets 2 and 3 have 9+ years to recover and grow. Did you watch the video?

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But why push hard to be miserable in your 40s saving money and then just change your life completely?

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Because almost every aspect of life is better?

Time > Money

Financial freedom is glorious.

Actual retirement lifestyle may be better than working years ($).

…my top 4!

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You can be financially independend, have loads of time to do whatever you want, and still maintain some sort of income producing activity.

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Seems there is a disconnect on the definition of retirement. Retirement doesnt just broadly mean "no income" anymore. Many people do part time gigs in retirement but focus on things they enjoy or even start their own business. For some folks retirement means never leaving the couch. These days, all you can safely assume is that one thing is ending (usually a career).

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But you aren't out traveling the globe and living up life on $2 mil at 50. Tha'ts my point

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I am neither of those numbers. I can travel the globe and live up life. However, spent the last 10 of 30yr career traveling the globe. No thanks!

My pernt: no one sized fits all of “living up life”.