[Meeka]

Your age multiplied by your annual income divided by 10.

[Manny]

Zero. I would stop feeding Audry III (Wall Street) (little shop of horrors reference).

Do this instead.

1. Invest in your skills. Did this from 26to 28 and 3X income.
2. Buy a value-added house to live in with as little down as possible. Did this at 27 with $17k down payment and by 29 the 17k down became $170k in equity.
3. Take out some of the equity and reinvest in more value-added real estate. At 30, turned $50k into an additional $200k in equity.
4. Do it again and again.

Savings not required after that. Earned and reinvest instead.

Have you seen: How much of your savings do you keep liquid in your checking account?

Good luck

[Josh]

I’m 41 and between wife and I combined we have like like 1.1 million plus 1.2 million house paid off and no debt (cars paid off etc)

My portion is like 700k… but I put a lot to pay off the house and now it’s accelerating the contributions.

I put about 50% of my 200k to stocks a year now w 0 debt.

[Karim]

Need a lot more info than someone’s age to determine that answer.

[Lil]

I’m on track to have 1.73 and a Dunkin Donuts coupon.

[Aiesha]

I would say at least a million. Of course more is better. But if early retirement is the goal a million at 38 puts you track to retire comfortable in 10 years.

[Brett]

Even a very rough approximation would require knowing how much you estimate you’ll be spending per year in retirement.

[Matt]

It all depends on when you want to retire. How many years of expenses do you have saved, and how many more do you need to retire (i.e., get to 25x)? From there you can determine whether you are on track or not..

[José]

It all depends on your own reality. Annual income, expected retiring age, expected expenses when retired, etc. You should know your FIN (Financial Independence Number)

[Robert]

There is no “one-size-fits-all” answer to that question, b/c there is no “one-size-fits-all” to FIRE. Everyone has unique circumstances and unique factors, so there is simply no rational way to answer that question.

[Stephen]

It really should only take you about 20 years to completely fund your nest egg if you’re saving adequately so if you want to retire at 58 any amount fine if you continue to save and invest at least 20% of the amount you wish to live on in retirement every year.

[Kyle]

I see this number posted a lot, so figure it must have some significance. $401k.

[Author]

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