Quote:
Originally Posted by jayeff
At least you identified the problem: I suspect the majority around here don't even recognize there is one.
Unfortunately there are no easy options: if you try for a higher return, you increase your risk and make yourself more susceptible to inevitable market swings. Which is usually fine so long as you can leave the investment intact, but not so good when you actually retire and need to withdraw at a more or less constant rate.
The only real alternative to working those 15 years (and you will likely find it more like 20-30 in practise) depends entirely on your ability to make more serious money. I assume you are working for yourself, but your post suggests that you are approaching every aspect of your financial situation with the same limited ambitions as the average wage slave. Who knows, but if you could find a way to raise your horizons, that new perspective might allow you to come up with the idea which could make your fortune  |
I tried your method. I make very good money. It has gone up 100%'s in the last few years. I do not spend all that I make. I just really thought a person making what I do could be rich and retire young (I am not young now).
The math is still the same. If you make 10k, 100k or 1 mil, you need to get ten times that saved up to make your yearly income from investments. I suppose I can assess what my real needs are then add some for super great times and see if I could do with 5 times my current yearly.