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What is your number ? What are your plans to achieve the #

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  • #76
    For us the "number" is when we hAve enough passive income to throw in the towel working. I think we are close. Roughly kicking off 100k passive income now (dividends plus pension). Taxes are a [email protected]@ on four streams of income (two salaries, pension and dividend income). I'm 47 years old. Goal is to stop working by 50.

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    • #77
      Our number is $5M and Debt free.  We will get a pension from my spouse that is estimated to be about $6K per month adjusted for inflation.  Plus my SS.

      Plan to retire around 52 when we can collect the pension. Plan $1-2M coming from my office sale--if practice values continue to rise i may just have to retire early...lol.

      Our portfolio for our taxable accounts and retirement accounts are nearly 100% stocks. I am 39 years old.   My logic is that the pension money is very safely invested (spouse is in retirement plan that is consistently ranked one of the best funded in the nation)... My practice value is pretty stable.....we have a lot of years still.....and we are dollar-cost-averaging into the market.  We plan to retire young....and if it doesn't happen it's not the end of the world.  Once we get to our number we will go to a much less aggressive portfolio.  I just feel like we have too long until retirement to put a lot into bonds... and emotionally prepared to be killed by a correction....knowing that we have time on our side still.

      we have a very high savings rate right now.   our biggest costs are retirement savings, college savings and house payment.   If we were debt free and didn't have to save we'd have a hard time spending $10K per month.   Kids are a motivating factor in savings.  It's getting harder and harder for young people with debt and I'd like my kids to have a head start.

      Luckily we've been thinking about buying a boat in retirement to sail around.....that should help us spend some of the money if we over-save.  the only single stock we own is Amazon (everything else is index funds).  The joke is that those shares are the boat money.  Whatever it is worth when we buy the boat is the budget.  It's either going to be a yacht called Princess Amazon.....or a canoe with "F*ing amazon" spray painted on the side.

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      • #78




        Our number is $5M and Debt free.  We will get a pension from my spouse that is estimated to be about $6K per month adjusted for inflation.  Plus my SS.

        Plan to retire around 52 when we can collect the pension. Plan $1-2M coming from my office sale–if practice values continue to rise i may just have to retire early…lol.

        Our portfolio for our taxable accounts and retirement accounts are nearly 100% stocks. I am 39 years old.   My logic is that the pension money is very safely invested (spouse is in retirement plan that is consistently ranked one of the best funded in the nation)… My practice value is pretty stable…..we have a lot of years still…..and we are dollar-cost-averaging into the market.  We plan to retire young….and if it doesn’t happen it’s not the end of the world.  Once we get to our number we will go to a much less aggressive portfolio.  I just feel like we have too long until retirement to put a lot into bonds… and emotionally prepared to be killed by a correction….knowing that we have time on our side still.

        we have a very high savings rate right now.   our biggest costs are retirement savings, college savings and house payment.   If we were debt free and didn’t have to save we’d have a hard time spending $10K per month.   Kids are a motivating factor in savings.  It’s getting harder and harder for young people with debt and I’d like my kids to have a head start.

        Luckily we’ve been thinking about buying a boat in retirement to sail around…..that should help us spend some of the money if we over-save.  the only single stock we own is Amazon (everything else is index funds).  The joke is that those shares are the boat money.  Whatever it is worth when we buy the boat is the budget.  It’s either going to be a yacht called Princess Amazon…..or a canoe with “F*ing amazon” spray painted on the side.
        Click to expand...


        when i lived in seattle, there were a lot of microsoft boats.

        there are some people who view pension like bond equivalent.  my wife and i are in same situation, with pension.  so we are higher than most with regards to regards stock: bond allocation.  who knows if we are right or wrong, but that's also what we decided.

        i get your name now-- retire by 52, rb52!

         

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        • #79
          I think your "number" depends a great deal on what your options are.  For most people, the number goes up as you get closer to it.  Mine actually went down.  As I got closer and it felt more real, I could no longer think about giving up the freedom I am hoping to have.  Once we picked a firm date, I told my wife I would rather cut back  on lifestyle if needed then think about working more to get more in the bank.

           

          We tend to look at the financial number and we let it creep up.  We forget that the more important number, the days you have left are going down at the same time and you don't get to go back and change that.

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          • #80
            I find this such an interesting post because I thought long and hard about my number.  I constantly ran the numbers and obsessed how and when I would get there.  Reached the number several years ago and guess what-Its just a number.  Once I achieved it the angels did not come out and sing and there were no rainbows in the sky.  I put my shoes on the same way every morning, still strive to be more kind and humble and still practicing full time.

             

            For me at least it was not as magical as I believed it would be, but am grateful that I achieved it.

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            • #81


              It’s either going to be a yacht called Princess Amazon…..or a canoe with “F*ing amazon” spray painted on the side.
              Click to expand...


              This is brilliant.

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              • #82




                I find this such an interesting post because I thought long and hard about my number.  I constantly ran the numbers and obsessed how and when I would get there.  Reached the number several years ago and guess what-Its just a number.  Once I achieved it the angels did not come out and sing and there were no rainbows in the sky.  I put my shoes on the same way every morning, still strive to be more kind and humble and still practicing full time.

                 

                For me at least it was not as magical as I believed it would be, but am grateful that I achieved it.
                Click to expand...


                I agree with crazy road to Dublin that once you hit your number no bells ring and no one gives you a watch.  When I hit mine I reassessed my situation and when one hospital started increasing unattached ob call I decided to retire from Ob and drop the hospital that wanted more unattached call. Becoming financially independent and then some gives you the ability to do this.

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