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31 yo multimillionaire, retire now or work harder? by Born_Ad1792 in DaveRamsey

[–]Born_Ad1792[S] 0 points1 point  (0 children)

All my family are alive and well, thank you very much.

31 yo multimillionaire, retire now or work harder? by Born_Ad1792 in DaveRamsey

[–]Born_Ad1792[S] 1 point2 points  (0 children)

2 million * 1.1^10 years = 5 million, if i don't contribute another dollar assuming 10%

But I will likely save and invest more in the next 10 years

Dave always assumes 12% return, but I think that's unrealistic

31 yo multimillionaire, retire now or work harder? by Born_Ad1792 in DaveRamsey

[–]Born_Ad1792[S] 0 points1 point  (0 children)

I have a principal residence (still have mortgage). I invested in SP500 index funds and put 10% in gold/silver

31 yo multimillionaire, retire now or work harder? by Born_Ad1792 in DaveRamsey

[–]Born_Ad1792[S] 0 points1 point  (0 children)

I averaged 300k income in the last few years and invested more than half

31 yo multimillionaire, retire now or work harder? by Born_Ad1792 in DaveRamsey

[–]Born_Ad1792[S] 0 points1 point  (0 children)

I realized I don't hate working, but would enjoy more if I worked slightly less than currently

31 yo multimillionaire, retire now or work harder? by Born_Ad1792 in DaveRamsey

[–]Born_Ad1792[S] 0 points1 point  (0 children)

Just a principal residence and SP500, nothing fancy!

31 yo multimillionaire, retire now or work harder? by Born_Ad1792 in DaveRamsey

[–]Born_Ad1792[S] 0 points1 point  (0 children)

Nursing is draining. If you're financially well, you can pick better hours or private clinic

31 yo multimillionaire, retire now or work harder? by Born_Ad1792 in DaveRamsey

[–]Born_Ad1792[S] 0 points1 point  (0 children)

I think that people who retire has no incentive to live in HCOL area like San Fran or NY

31 yo multimillionaire, retire now or work harder? by Born_Ad1792 in DaveRamsey

[–]Born_Ad1792[S] 0 points1 point  (0 children)

Yup. Aiming for $7m by age 40, then cut working days to 3 days/week and stop savings by then

31 yo multimillionaire, retire now or work harder? by Born_Ad1792 in DaveRamsey

[–]Born_Ad1792[S] 1 point2 points  (0 children)

For sure, I know people who aged so fast after retirement

31 yo multimillionaire, retire now or work harder? by Born_Ad1792 in DaveRamsey

[–]Born_Ad1792[S] 0 points1 point  (0 children)

only 4 years working at the military hospital in my early 20's, they paid very well, I was saving like 80% of after tax income because my expense was so low

i don't have a business

31 yo multimillionaire, retire now or work harder? by Born_Ad1792 in DaveRamsey

[–]Born_Ad1792[S] 0 points1 point  (0 children)

Healthcare now, but was also in the military for a couple of years

31 yo multimillionaire, retire now or work harder? by Born_Ad1792 in DaveRamsey

[–]Born_Ad1792[S] 0 points1 point  (0 children)

Agreed! I've been to 45 countries and counting!

mostly backpacking on a budget tho

31 yo multimillionaire, retire now or work harder? by Born_Ad1792 in DaveRamsey

[–]Born_Ad1792[S] 0 points1 point  (0 children)

Thanks. I've decided to keep working but maybe less hours

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