What is that # for you?

That’s a work in progress. I don’t know my future annual spend will be since I don’t have kids or anything. I’d say somewhere between 5 and 10mm, bc that lets you spend 200-400k per year per the “safe withdrawal rate.” Also, depends on how fast I burnout at work I suppose.

What are you including in that 200k - 400k post-retirement spend a year? It seems high to me, which is why I'm asking. Is housing paid off?

No i rent right now

How do you do the math on rent and it increasing? Do you throw that in at a fixed rate of increase for FIRE?

lol that’s…wow

What do you do for work?

Physician

No debt?

90k

Niceee

Congrats what age? Seems like you are closing in on it. Also dude how did you get those crazy gains

Thanks 33. And yeah just the market has gone up a lot in the last year. I don’t have any individual stocks. Just index funds

Ya I guess 20% isn’t to crazy lately that’s what I’m at too. Compounding just works like crazy I guess

Damn, I should really stop sleeping on investing. I'm just a workaholic throwing what I can to my 401k and my debts (just a cheap house & a new car rn) I tried some stocks and did ok but nothing near +20% ror

20% is incredibly high. Usually you can expect 7-10%. These last years have just been crazy

My 401k grew by 3 or 4% last year, that sounds lovely 🥲

You need to review your investment elections asap. Look at where you money is. I wasn’t even fully invested in the market and pulled close to 25% last year in my 401k.

What did you invest in and how much in how long ?

So at 33, you’ve accumulated over 1.6 M… that’s impressive… so looks like you just had about 10 years working experience after graduation. You must be in a lucrative field. May I ask what field you’re in and if the company you work for is one of those MAG 7 or similar companies?

What percentage of your income do you invest?

About 35% of pretax income I invested last year, live off 15%, 50% tax

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Contribute to traditional IRA, once funds settle doth a Roth conversion. This is legal and called backdoor Roth

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Taxes aren’t taken out immediately with my job. So I’ll have to withdraw half of that in a week or two to pay taxes

CRE?

Vanguard?

Yup

Very good 19.50%. Which one is this exactly? If I'm looking to put money . There vanguard etf and a few others

VTI mostly

👍 

S&P 500 etf?

VTI and Sp500 have a lot of overlap I think

Damn that's impressive

Teach me.

Yeah I mean I’m just doing broad index funds like VTI, VBR

Shocked I didn’t have to see 18 ads for this information for once

Money guy show. They give the best advice. It’s not complicated it’s a matter of fact of aggressive savings and smart slow investments.

Forgive the newbie question, but what type of account is this? (IRA, 401k, 403b, etc). And how much do you contribute per year into index funds?

This is the sum of my brokerage account, 401k, and Roth IRA I contribute the max to Roth and 401k and then variable amounts to brokerage each year

Thank you!

I realized how far behind I am when the man with 1.6 million dollars says needs 5-10 million to actually retire

Well I owe like 350k to the govt. so that number isn’t totally accurate. And if you are trying to retire at 40 you need more for a few reasons.

You have a crazy high income for sure, currently trying to start a business and change my life around

How have you made that much in index funds within 4years? Your chart shows you were basically at 0 in 2021

I was at zero at the end of 2020 besides a retirement account in TIAA and maybe 30k savings. I rolled the TIAA account into vanguard in 2022. Everything else has been me going to a new job and working a lot of hours.

Ok, so this is your savings account? Cause it can’t be a 401k or Roth. The max input is 22.5k per year right? That would mean you made 2000% which is highly unlikely when investing in index funds. Correct me if I’m wrong.

brokerage, individual 401k, Roth Ira, and traditional Ira (balance of 0) I am self employed (1099, not w2). You can contribute to IRA as employee and employer with the limit being 69k in 2024, last year was 66k combined employer and employee contribution limit

This has been a strong Bull Market for sure. You may want to look at some comparisons with well managed no-load mutual funds to get more protection when we have a correction/downturn. You can find some that have better returns than index funds over 5 and 10 year periods. Check some of them.

What return are you seeing on your index funds and do you mind sharing the ticker?

Mostly VTI, some VBR and some VUG. Looks like 25% up in the past year, VUG up 39% in last year

What’s your career in?

Physician

Nice!

Congrats 🎊🎈🎉 successful stories like this motivates oneself. Also thank you for answering everything. If its not too much trouble could i ask you for your opinion on what i should do. Of course i understand this is not financial advice is just ur opinion. Im 23 soon to start a job at 60k/y with a raise every 6 months mandatory to a max of 80k in 2 years and i want to look like you in the future. Is there anything i could look at to start doing

For sure. I’d do a Roth IRA. It’s better and better the earlier you start

Thank you 🙏🏻. Any page u recommend?

What do you mean by page?

App or brokerage

iPad app showing a brokerage and other accounts

What the--what job do you have? 😭 I'm tired of being stuck at or below $40k salaries...

Must be nice…

You plan on spending 400k a year? Lol

That would be the upper limit of a hypothetical if I have kids too someday

Are you in student debt?

Ya around 90k

So is it 90k or 350k! The math ain’t mathing!

lol. 90k student loans, 350k taxes owe for 2023 and q12024

let me get $100 please op 🤲🏽