The dust is settling from my recent homebuying, and I have since collected my very first rent payment (feelsgoodman). Time for me to get used to a mortgage and start planning for the longer term. A while ago, I decided that I’m not ready for preparing for FIRE yet, but I think it’s good for me to start planning and working towards my retirement in future.
The Goal Between my mortgage, bills, and personal expenses, I think I can live rather comfortably on $40,000 a year, and that’s the goal I will set for myself. That means I need to set aside a nice and round $1,000,000, of which I would draw down 4% each year to sustain my expenses. Timeline? Age 45, which means I have barely 13 years to start preparing for this. It’s quite audacious, I guess, but goals shouldn’t be too comfortable. Is it...
