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money musings

So I follow a bunch of early retirement extreme blogs, and even though I am not frugal, reading those blogs remind me of my current goal (which is to retire at 45).

But to be honest, I think I'm almost semi-retired now. I work about 20 hours a week or less. And working even less these several months that I've given to myself as maternity leave. I understand how lucky I am to be not working the last several months. Yes, I've editted stuff, and been on my computer, but it's not been that hard. Some of my friends are working fast food, teaching jobs all the way to baby arrival.

I think if I had started reading the early retirement extreme stuff when I was 21 and just starting my job, I would really be fully retired by now.

I think the key is when the baby arrives to still be cognizant of my financial goals. We already are setting a no more then 20 toys rule (exception: educational toys like legos, she can have as many books as she wants).

I like not having a boss. I like being my own boss and setting my own time and hours. All this was worth my 10 years of slavery at Dell.

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floppyghost
Jul. 29th, 2014 10:14 am (UTC)
I did the math some years ago, and concluded that even in the absence of any of that extreme stuff, it should be pretty doable for a couple (especially a childless one) to retire at 45 or 50 at the latest, if that's what they want.

Of course even if you have enough that you -can- retire at 45, you might choose to work longer if whatever you do is fairly pleasant, and/or if you still desire a more financially comfortable retirement.

We can't do that anymore. Not at 45 at least. 3 kids BOTH make it harder to earn well, and also, of course, ups our costs quite a bit.

At the moment our net-worth is slightly north of $500K, and we'd need double that for even a reasonably modest retirement at least if we retired in Norway which is high-cost. (and even that assumes we'd do it after the kids are no longer living at home)

Sounds to me though, as if you already have a very large pile of freedom, and isn't that the main point of retiring early anyway ? I'm not sure precisely what your financial goals are, but surely having freedom to live your life the way you want is a part of it ?

I'm curious what your financial planning looks like. Would be fun to talk personal finance with you sometime.
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