5 More Years!

I was messing around with one of the tools on the MadFientist site and when I punched in all the numbers it said I could retire in 5 years at 50 years old!  I’ve somewhat been obsessed with the idea of “early retirement” and keep up with all the new posts on the Reddit /r/financialindependence subreddit.  While, compared to a lot of people on that subreddit, 50 isn’t exactly groundbreaking for a retirement age, I know that it’s pretty darned early compared to most people.

I used the figure $60,000 as a retirement income and only used my investment account totals (as opposed to my total net worth with assets like houses etc) and was surprised to see that it calculates I only have 5 more years.  That assumes that neither my wife or I work once I turn 50, which would not be the case.  My wife actually likes her job and is expecting to work about 5 years longer than I do.  That will give us the safety buffer of living off her income for 5 years and letting our investments continue to compound.  We also will have the added benefit of getting our health insurance through her job.

So, my five year horizon is giving me hope and helping me hang on at work, even though I’m not very excited about my job.  (And yes, it will be very hard to walk away from a job that pays over $100K per year.)  I think what I’m most excited about is getting through the next five years and then knowing that I could pull the trigger at any time.  As the saying goes, “I’m just one bad day away from retirement”.  At this point, I’m 5 years and 1 day away from a bad day!