Early Retirement

Hey Jeremy! I’ve been following you for quite some time and you have been super helpful on simplifying concepts for the everyday person! Thank you for that! I max out my Roth 401k, Roth IRA, and opened a brokerage account as well. I am saving as much as I possibly can and will always continue to max out the above accts per IRS limits ofc., but my only concern is I don’t want to wait until I am 65 to enjoy the fruits of my labor. I work a hard job and to wait until 65 just doesn’t seem right for me. I am 26 right now and I am wondering, what else can someone do to retire much earlier. Lets say 40. I don’t mean to never work again as in no income, but I mean retire in the sense that I don’t need to work in order to live and survive anymore. The accts. compounding become enough to withdraw from starting at 40 until passing and that if I work its because I want to for pleasure/passion. Is that possible to do by 40 or even earlier? I already save eveything idk what else to do or if its even possible on a normal salary.

Hi Kimberley,
Yes it is possible to do that by 40 or even earlier! Use this retirement calculator to plug in your numbers and see what you need to do to achieve this: Investment Growth Retirement Calculator – Personal Finance Club

Also, if you’re SO RICH that you can retire at 40, it’s very likely that not all of the money will fit in your retirement account. You’ll have money in a brokerage account that you can withdraw anytime. You can read more here: Six ways to access retirement funds early – Personal Finance Club

Look up fi/re (financial independence, retire early). You can do it!