When I originally set out on my Early Retirement Extreme plans my aim was to reach full retirement by 52, with enough saved by then to draw down on while I wait for my teacher's pension to kick in at age 60 (I hope!).
All of that was based on having a super low-outgoings lifestyle, which I'm not in the mood for any more and so I'm pushing my ERE date back somewhat....
I estimate I'd need around $10K a year for draw down, along with my passive-ish income, rather than workaday income. So that's the new goal... save enough to be able to draw down on that until I'm 60 in around 9 years time.... plus the following
We start off VERY high because I've still gor a mortgage and some other debts to pay off, the mortgage is done by 2029.
I've got around £15K already in savings and working on adding £10K a year to that I cross over my needs sometime in 2029.
So that's 5 years for now, so I'm on for full retirement at around 55... which doesn't sound too bad...!
Especially since I recently decided I actually quite like working still, I mean it is a pain in the ass, but it does give you something back too!
I don't count crypto in this unless it's in stables, if I were to count it then I'd only include 20% of it as that's how much I'm prepared DEFINITELY and HAPPILY to sell in next five years.
That doesn't mean I won't sell more if the prices go MENTAL, and if they do I could maybe hit my crossing zone much earlier.
But we shall see how that goes.
For now, in my brain-thing, I've got another 5 years of work ahead of me before I can proper chill..
And even then, I may well just keep on keeping on working as an option.
And TBH when they work is part-time and you're looking at five years, it doesn't feel that hard!
No violins required, that is for sure!
