Can I Retire Yet? Answer Question with One Simple Wealth Formula

You’ve done your best to set aside money for retirement, despite all the emergencies

Yes, if we’re willing to give up our dream home. For the retirement I want for us, I need to stick with it for another 4 years or so, depending on how the stock market behaves.

Can I  (Author of this Article)  Retire Yet?

We Have to Help Our Future Self, but Life Keep Getting in the Way

If you’re like most of us in our 40s, 50s, or 60s, saving for retirement was somewhere in the back of your mind for at least a decade.

Problem was that there were always more urgent things you had to spend on…

– Rent or mortgage, property taxes, utilities, etc.  – Buying a car, paying for auto insurance, maintenance, repairs, fuel, parking, tolls, etc.  – Food and other groceries – Health insurance and medical expenses

– Donations and contributions – Dining out occasionally (or not so occasionally…) – Movies, shows, concerts, etc. (at least pre-Covid) – Vacations, or at least staycations – Some nicer clothes and shoes – Gifts

Problem was that there were always more urgent things you had to spend on…

When Can You Retire?

The first step in planning for your retirement is knowing where the goalpost lies.

Running Some Examples

Wealth isn’t just about net worth or even invested net worth. It’s about that number relative to whatever your spending is in excess of your fixed income.

Here are some options I’ve come up with... 

But What If…