Retirement number is $5M, just seems like a battle to get there and I’m burned out. Single, citizen. Should I take a career break and come back to the grind later? TC 350
42 and single is your problem not your NW target.
$2.5 mm at 7% average growth should double to $5 mm in ten years. First of all, take 10 days off, go to a spa, hike, meditate and come back recharged. Then assess if you want to take a less stressful job.
Every time I see a clown plug in the 7 or 8% growth I stop reading
7-8 is not unreasonable based on past (I think future will be less but not everyone agrees). The bigger problem is that people often ignore inflation. I would suggest plug in 2-3% in excess of inflation.
42 and single and you think you need 5M? Why?
42 and single you have bigger issues
Exactly
What’s wrong with wanting to be single? I’m also around that age and single, enjoying my life. Had a gf for many years but didn’t work out 🤷🏻♂️ I’m loving single life rn.
Take a break, learn a few things, find a more fulfilling and lucrative path, train, become smarter.
OP are you counting any primary residence home equity in your NW? How much?
Coming back, unless you have a very strong network, will be tough. Just being honest.
42 is still young. Remember people are more frequently living to 90-100 nowadays and by the time you are old it may be common to see people reaching higher. You are less than half way, don't concern yourself about early retirement at this point. What are you going to do for 50+ years sitting at home with no job. Keep working.
There are also studies linked to lower life expectancy if one retires too early with speculated cause being loss of meaning/drive. It seems that it is super important to find a purpose if one wishes to live long.
I would like some tips to live that long (90+) please. I am in 30s and already feel so old physically.
Does 5MM need to be your number?
Maybe not, but I’d feel comfortable with that and 3% SWR
What’s your cost of living? Is it over $75k/yr? That’s $6,250 per month. Also HYSA can get 4%+ which is $100k on $2.5M