I got a raise! And not just a cost-of-living increase of 2%, but a REAL raise of 4%! I’m assuming that’s just on my base salary so I’m going from $90,000 base to $93,600 with a guaranteed $10,000 target bonus and $600 for my cell phone. Without any stretch bonuses I’m up to $104,200! Continue reading “A Raise (And What It Means for Retirement)”
As part of my many retirement charts I’ve created one that shows visually how much I’ve saved in $10,000 increments. The market is already going gangbusters in 2018 (though who knows how long it will last) and as a result without any paycheck I have more than $250,000. Originally I was just excited to fill in another bubble on my visual net worth sheet and enthralled by the fun of thinking about having “a quarter of a million,” but I just realized something: $250,000 is half of what I need to retire. I’m halfway there! That’s crazy! And based on the magic of compound interest my money will keep working for me and start earning money faster than I can. It looks like I’m halfway to retirement money-wise and less than halfway in regards to time: 2 years and 11 months to go!
This month is an interesting milestone. 3 years ago my mother retired from 30+ years of full-time work. Work she hated. Work that kept her from spending time with me because of a long commute (that allowed my step-siblings to go to a school near their mother). Work that wasn’t very compatible with my own long commute to school downtown. Work that allowed her to retire early at 55. I can’t believe it’s been 3 years already. Continue reading “3 Years.”
I’ve heard it over and over again: on forums and countless blog posts that it’s important to not just retire “from” your job, but to retire “to” something: something productive that will fill the ‘hole’ working leaves. I’ve been thinking about this FIRE dogma a lot and I think we should decrease its “truth” status. I honestly don’t think this is the case for me or my Mom. Continue reading “Retiring “To” Something”
This year I had more than just monetary goals. They were:
My Mom has been going through old emails to paint a picture of all the places we’ve traveled together. During her investigation she stumbled across an absolutely hilarious email I sent her 5 years ago. It was a response to an email she sent me with a link to an article about the different ways to retire early. Let’s see what my response was 5 years ago: Continue reading “5 Years and Changing Perspectives”
An article I read this morning made me realize something: early retirement is inevitable. I currently have almost a $200,000 net worth (so close!). I could stop saving now, not touch my money and let it grow. If I did that then based on historical averages I would have enough money to retire at 43 years old. That’s 12 years before my mom and 19 years before the earliest social security payout options without me adding another penny to my accounts. I could suddenly quintuple my lifestyle, live like that for the next 15 years and still retire earlier than I could have ever imagined. That’s INSANE! I might start thinking of all the money I invest from this moment as money that’s buying back my time between 32 and 43 years of age. I’m slowly rolling back the clock. I like that visual. Even if I do nothing I will get there. And fast. Let’s do this!
I received a bit of a shock last week. My Mom is applying to jobs. She’s been retired for 2 years and left corporate America at 55 after working 30 years in jobs she hated. I was more shocked to discover she’d been keeping this from me for a while. That was the saddest part. She thought I would yell at her. I didn’t. Continue reading “Tossing Early Retirement and Trading Money for Time”