re: Take control of your financial life with some great habits

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Youth is our greatest commodity but it doesn’t last forever.

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Life is…! And it doesn’t last forever.

Plan for and enjoy ALL of it.

This is not about having a giant nest egg at end of life. Balance, discipline and compounding interest will enable you to lift your enjoyment of full life.

If you want to leave some for next generation also, by all means, your prerogative. Create that option for yourself.

AND thinking (all ages) vs OR thinking (trade off). AND wins.

Do it!

33/33/33 Rule

Learn It
Live It
Love It

Start investing as early as possible. And go 100% in on stocks. No bonds. The Feds will never let the markets crash again.

The post you started with is so true. My parents were low middle class when I was growing up. I went to college got married luckily to a women with the same mind set as me. Because of most of these habits we will retire very comfortable at 60. Should be bringing in close to 30k a month with pensions, investment Accounts, and the 4% rule on our. 401ks. Also due to some luck and listening to me the last 20 years now live the upper middle class retirement lives. My sis and brother in law make 10% less than me and my wife. Spent 2.5 times what me and my wife did on a house. Live pay check to pay check with multiple credit cards maxed out. You can’t out earn bad habits.

How much do you need to retire at 60 ?
Asking everyone
Normal lifestyle
Just want to see thoughts

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The goal is to retire in their 50’s. It is easily doable as many of us have done the same thing.

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Provided they never encounter health issues or unexpected job losses.

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millionaire isn’t a meaningful designation in 2026

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I think you are saying that it does not mean as much in total value as it once did. Thats how exponential time value of money (1+k)^n works over time (inflation, assets, whatever).

At 4% withdrawal rate, every $1 mln in liquid assets invested for cash generation yields $40k annually in retirement. I’d say that’s quite meaningful. Need more? Plan for more. Each $1 mln is quite meaningful.

Millionaire Next Door is an insightful book, as well is Psychology of Money. Recommend both. Many who appear affluent are not wealthy. They want you to think they are. Some are. Less than you think l. I hear what you are saying. Suffice it to say, I know this for a fact.

For every $1 they earn, they are spending > $1.

Video is powerful. Shows how many people can achieve their wealth goals. It’s not for select few only. A good plan and discipline can work for many. Good luck!

I know we will have about 30k a month coming in with pensions, investment accounts, and 401ks. We will also have no debt. Our house will be paid off ten years before we retire. We believe in only paying cash for cars. But this is best done with long term intentions. We save 500 a month in our car fund. More than enough when the time comes considering we keep cars 10-15 years. The one non smart thing we do is we buy new and actual order exactly what we want. But then again I bought my car 14 years ago and plan on having it another 5 years. Wife just bought her new vehicle last summer and had gone 15 years without a new one.

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How much do you need to retire at 60 ?

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Personal finance is “personal”.

Recommend you have a look at firecalc. It allows you to input your particular's, and it projects hundreds of scenarios that provide probability you will have what you need, when you need it, for as long as you need it.

Very general guidance by Fidelity:
(Target value of your retirement nest egg by age)

Age 30: 1x your salary
Age 40: 3x your salary
Age 50: 6x your salary
Age 60: 8x your salary
Age 67: 10x your salary