Hook

Their other posts in the index, biggest breakout first.
I officially retired with $4.25 million dollars. I officially retired with $4.25 million dollars at the age of 34. Well, sort of. The age of retirement I want to be able to live off $200,000 per year. Which means I need enough money saved up for retirement that this number right here is 4.7% of my balance. 4.7% is just the amount of money that you can withdraw each year without ever draining the balance. So today, my wife and I have $712,000 invested, but we're not actually gonna touch the money today. Instead, we are going to access this money in 26 years when we retire. And at that point, this money will have turned into $4.25 million dollars. Based on the market growing at 7%, which means that I've actually factored inflation into this equation. 26 years from now, this $4.25 million is the equivalent of having $4.25 million today. Yes, technically we're not retiring today, but we did reach a really cool milestone called the Coast FIRE. You no longer have to invest more for retirement in order to hit your retirement goal. Spent the last eight years being incredibly disciplined with our money to the point where we basically invested half of our income. And as a result of that, we're put in a position where we either can figure out how to just spend that 50%, we could instead continue to invest that 50% and then fully retire in like five to eight years. Or we can just completely rethink our careers, do something that we're incredibly passionate about because we no longer need that income relying on before.