Retire Early with $2.8M At Every Age

[@FIREPsyChat]

Get your YNAB budgeting app ➡ firepsychat.com/ynab Free Financial Resources ➡ www.firepsychat.com/resources Financial Consultation ➡ www.firepsychat.com/coaching

[@steveloncar6132]

25 years old rn. My wife and I each have $650 in our Roth IRAs (late to the game on Roth). I have 19k in my regular 401k from my civilian job and 11k in my Roth TSP (Army reserve). Hoping to do 20 years in the Army reserve and that'll give me a pension when I turn 60 so hopefully will lower my fire number since I'll get that pension. Hoping to get to maxing out our roths at some point in our 30s. But doing everything rn to invest every available dollar. Trying to slowly pay off our house as well.

[@FIREPsyChat]

You’re rocking it!

[@mucusofwanderhome6945]

You are way ahead of the game my friend . Excellent work

[@steveloncar6132]

@@FIREPsyChat appreciate it! It's a lot of work. We just had our first kid as well and things aren't getting any cheaper it seems 😂

[@curtiswfranks]

You are so young that it is impossible for you to be late to any game.

[@steveloncar6132]

@@grigorirasputin425 Lol fair. It feels late to me because of the advantages of the Roth account. I wish I had known about stuff like that when I was in high school. I feel old cause of all of life's responsibilities. I know I'm not but life is busy for me. I feel a lot older than most 25 year olds I know. I usually get along better with 35 or older people.

[@TheFirstRealChewy]

If the market drops by 30% you can reduce your withdrawal by 30% and supplement the difference with your emergency fund. If you can reduce your spending during the down period then that will help preserve your emergency fund.

[@joshgrim2233]

Great video & Info. I am 29 and I currently have $118k in my traditional TSP (civilian gov. Employee) and $34k in a brokerage account. My goal is to retire at the MRA (57) (will have 37 years of gov. service).

[@FIREPsyChat]

Nice! Keep crushing it

[@lazerbud]

Psy, your resources link doesn’t work. Mind looking into that? Would love to access the FIRE calculator, thanks!

[@itchyasian4592]

Sounds risky to loose half a million.

[@rickyayy]

Once you sell you lose. Cannot sell have to hold bag.

[@hejiranyc]

I am single and will be 55 in two months and currently have about $1.7 million in savings, brokerage and retirement. I'm about to sell one of my homes and will net close to $1.2 million on that sale, which means I should have around $3 million by the end of this year. Is that a FIREable number? I was originally set on retiring at 60 (hoping to live on $10K per month), but I wonder if that is overkill. As it stands currently, my savings rate is projected to be $250K per year plus whatever growth I get from interest, dividends and the market. So, based on that, I could be close to $5 million (or more?) by 60 and, as an only child, I can expect to inherit most, if not all, of my parents' nearly 8-figure estate (both are in their mid 80s). What would you do? Serious answers only.

[@48512]

Go do the things you love and enjoy just my opinion.

[@rickyayy]

Retire and enjoy your life.

[@lazerbud]

Yeah you have plenty, love your life and focus on your health

[@mangoman9290]

31:00 What a load of BS! FIRE can be achieved earning much lower than 6 figures. Its all about time, savings rate and attitude.

[@josephpeters7076]

@@mangoman9290 He’s married. I think he was thinking combined income and his expenses haha.