How I Retired at 30

Lovebird · 2013-07-24T06:29:41+00:00

At 23 years old he began working and savingand saving some more. By age 30, hed amassed some $800,000 in cash and investments, and then entered early retirement. The Rule of 70% While a popular rule of thumb is to try to save 10% of your income every month, in the race to retirement Mr. Money Mustache saved and invested close to 70% of each paycheck until he had about $800,000 racked up. At that point he felt comfortable quitting his job, as the dividends from his stock portfolio and income from a rental property were finally enough to support his familys lifestyle. I just figured based on a 4% withdrawal rate of your savings, if you have $800,000 saved, you could draw an income of $32,000 a year from that. Our needs are less than that, so we actually dont need $800,000 in savings. How I Retired at 30 - Yahoo! Finance

Thread starter Lovebird
Start date Jul 24, 2013

Lovebird

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How I Retired at 30

Lovebird

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