Realistically, when do you think you can retire?

I really wish I had more money to invest but don't we all

 

A great resource for those interested in saving is the forum diehards.org the members there are great. Their all Bogleheads and can help you figure out your finances. A Boglehead is a disciple of Jack Bogle founder of Vanguard.

 

The one I have is 8pct, got it from the credit union my father worked for. It is not a substitute for cash though.

 

I learned to embrace my credit cards and my credit score. Became kinda like a hobby thing but not an obsession. I buy 95% of everything with it, pay the entire balance three weeks later and rack up the bonus dollars. Plus when I pay for a service or a product and it doesn't work out, I can cancel payment if they won't warranty the work or product.

 

My employer covered my health and dental insurance until Obama Care came on line. Now my insurance costs me about a hundred bucks a month, my co pay and script costs are up also. I see the day when small companies like my employers will be forced to drop their employee insurance coverage due to cost. I have yet to see the "affordable" part of the Affordable Healthcare Act. I'm in pretty good health and hope to work until I'm 67-68, I don't think Illbeable to financially afford otherwise.

 

No tricks or lottery winning when it comes to early retirement. If you live below your means and invest heavily in your retirement accounts from a young age an average income earner can retire young. Our economy wouldn't work so well if everyone did that though, so be glad that not everyone does.

 

I believe either Ben Franklin or Albert Einstein (two guys who are smarter than me in other words) said "Compound interest in the greatest invention in the history of mankind" or something like that.

 

Funny, I was only looking at my balances 30 seconds ago and got a notification that this thread is still alive.

Regardless, I love these types of threads.

 

Was looking at the chart for my 401 balances. I'm within $1500 of being exactly where I was when the final hemorrhaging of the Brexit debacle ended. If today is just an average day, should be exactly the same as a week ago.

 

I think many Tacoma owners are interested in personal finance, I know I did my research before purchasing my truck several years ago and was shocked at how are small trucks hold their value throughout the years. I viewed it as a good investment.

 

The Brexit thing is overblown in my opinion, great time to travel to GB though

 

I'm 24. Currently putting in around 7k a year in my 401k and then adding savings to a portfolio every paycheck. Hopefully everything works out. Gonna contribute more % after my annual review/ raise in January next year. Hopefully at this pace, I'll be ok. my ideal situation would to retire at around 45-50 which I feel like is possible. Only thing that could change everything is kids but we'lol see.

 

I wish I would have started at your age, now I'm playing catchup. I do have my house paid off and other than the truck and 1 c.c. I owe nothing to no one.Hopefully my health holds and I can keep working till I'm about 67.I'm trying to invest in other things besides stocks.

 

I've got student loans, rent an apartment because I have to be able to move for work, and have nice sized truck payment lol. I'm not doing everything right but I try

 

I understand completely. I buy my Toyota trucks wrecked then rebuild them. I have no fear of salvaged titled toyota trucks. They sell just as fast as clean titled trucks. Because I get these trucks cheap and drive them for many years, I have had very few years with car payments. That money has been invested in my retirement.

I realize not many are comfortable buying a wrecked vehicle and not even being able to hear it run, but it has saved my wife and I many dollars over the years.

 

I believe that was Einstein. Something along the lines of "Compound interest is the 8th wonder of the world. Those who understand it earn it, and those that do not pay it."

 

Just dropped 100k on a piece of land to build a semi detached house. One side mortgage and rent, other side live mortgage free.....Real estate is also a good think to dip into for early retirement

 

Not sure real estate is a good investment long term these days. Huge housing bubble right now. If it's a quick flip, then it's ok, but everything is overpriced right now.

 

For a rental I have made lots of money in Nova Scotia where I live. Tax and rules are likely different then the US and our housing prices are not as messed up as yours right now. Not a bullet proof investment but nothing is these days

 

Ah, my bad, didn't notice you were in Canada