Kronk wrote:Retire at 55? What are you, an oil tycoon?
Haha, no. But I'm that annoying friend that will drive a used Honda Civic/Ford Focus/Toyota Camry his whole life, live in a smaller house, send my kids to public school, only go on vacations with perks/bonuses, etc. And that more frugal lifestyle not only frees up more money to invest, but it also means you need less money to retire.
Thus, once I'm done paying off my loans, I plan to put significantly more money towards retirement and my mortgage.
And once I'm done paying off my mortgage, then my only real expenses will be property taxes, utilities, car insurance/fuel, and kids. And since I expect my GF and I to have a dual income of around $150-200k at that time, we will be able to put a ton of money towards retirement every year for almost a decade, which should allow us to retire at a pretty young age.
This is a good article on the math of everything (http://www.mrmoneymustache.com/2012/01/ ... retirement
) and what percentage of your income you need to save in order to retire at a particular age.