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That's an exaggeration, even for frugal people. Retiring at 50 means ~30 years of working life finished and ~30 years of retirement remaining. At $50k per year
by ramphastidae 9y ago
That's an exaggeration, even for frugal people. Retiring at 50 means ~30 years of working life finished and ~30 years of retirement remaining. At $50k per year * 30, that's $1.5m. Spread out over 60 years that's $25k per year before tax. I wouldn't say it's "relatively easy" to save for retirement, pay for healthcare, live somewhere safe, have children, etc. on that, even with investment returns over that time frame.
- the_gastropod 9y agoYou're ignoring investment income. I suggest reading MMM. It's a trove of great information.
- dceddia 9y agoI second this. He has a ton of blog posts though, so it can be like drinking from a firehose. Start with this one: The Shockingly Simple Math Behind Early Retirement - http://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/ http://www.mrmoneymustache.com/2012/01/13/the-shockingly-sim...