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Retiring Early vs. $3 Million: Is It Better to Keep Working At that Price?
Recently, I was asked, “Why would you forgo your highest earning years in favor of retiring early?” Obviously, I never thought about it like that. The infinite wisdom of a random social media commenter truly changed my life… Nah. For one, I don’t think they understood how meticulous I could be regarding financial planning. I don’t know one person who retired and isn’t struggling financially, so I understand the caution. Being second-generation Haitian narrows the number of successful retirees to an elite few. Do Haitian-Americans retire? Sure. Maybe? Have I seen it? Not really. Do they even have enough money to really say that they retired? Nope. Most of their…
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How to Stay on Track to Reach Early Retirement
Not sure how the rest will manage working for an extra 25 years, we are out on early retirement in 6 years. At least that's the goal. Will we reach $5 million? Maybe or maybe not, at least we have a goal versus no goal at all.
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How to Revise Your Financial Game Plan Post Multi-Millionaire Status
The only thing that changes in a good financial plan is perpetual change. In August 2023, my household hit a net worth of $1,000,000. We were officially millionaires in an era when we were told it was impossible for people like us. My wife, in her infinite wisdom, said, “We aren’t millionaires until we both have a million.” While that didn’t mathematically make sense in any realm of accounting, I figured it might be best to push for the $2 million target. On July 19, 2025, my wife and I reached our latest milestone of $1,900,000 in net worth. We are now just $100,000 away from $2 million. While my…
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This is Why Early Retirement Goes Wrong!
I was watching one of my favorite ‘Retire Early and Travel the World’ couples the other day and found that they have been struggling. After watching the 1 hour and 23 minutes YouTube vlog, it was clear that they weren’t ready for retirement. To be fair, no one is ever truly ready to retire. Even the Financial Samurai blogger had regrets. In April 2024, they sold everything, and for the first few months, Gean and Kristine (Fire We Go) were locked in. Typically, people will downsize and even trade in their bigger homes for something smaller. In addition to this, this couple set out to see the world and take…
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How to Retire at 50. How Much We Intend to Spend Monthly in Early Retirement
With inflation, tariffs, and the changing geopolitical dominance, will this generation of Americans be able to retire? Maybe, you don’t know until you try. Most people don’t even think about retirement until they hit their mid-50s. By then, it’s harder to pull off without undue financial stress. As people approach the age of 59, they often consider transitioning into retirement with less than $200,000 saved. For most Americans, that transition culminates at 68 if their bodies don’t give out. By that time, navigating retiring successfully, will require significant adjustments to their budget and lifestyle. While every individual has different spending habits during their golden years, it’s important to note how…
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How to Retire at 50 pt. 3: Our Top Three Locations for Where to Retire
While retirement seems miles away, my wife and I daydream about our exit strategy. From the freedom from deadlines, managers, and stressing out about money, we are ready to trade for hobbies and adventures.
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How to Retire at 50 Pt. 2: Probabilities of Success
Retirement might seem a long way off, but you are better off planning as soon as possible. While everyone will retire one day, I’m more concerned with the probability of staying retired successfully. In the last blog post, Time to Retire Early at 50, I covered why my wife and I set our exit target after 2032 (seven years). It’s an expedited runway compared to the average retirement age of 62. For me, this means I’m getting out 12 years early. My wife will be getting out nearly 20 years early or even 25 years from her original expectations. With that said, I didn’t get a chance to dive into…
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Made More than $232k in my 401k. Most Americans are Making a Big Mistake.
Over 11 years, my total wealth output grew by $232,329 that's beyond my direct contributions of $183,202.
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Why Financial Freedom Should Be On Your Wealth Bucket List
Achieving financial freedom necessitates a Wealth Bucket List to prepare for retirement. The author emphasizes accountability, budgeting, and discipline as paths to personal finance success. Planning for retirement includes significant financial goals, a commitment to lifelong learning, and a passion for travel and service. The aim is to create a purposeful, fulfilling life post-retirement.
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How to Pay Less in Taxes in Retirement Like My Mom
Turns out, you still pay taxes in retirement. However, it’s not as much as you think. As of March 2024, the median income for Americans aged 65 and older was $50,290. That’s a median monthly income of $4,191. However, this income can vary drastically by age, race, professional, and education level. On average, a retiree can expect a tax rate of 5.7%; however, 80 percent of retired households will pay little or no income taxes (source: Center for Retirement Research of Boston College). If you made less than $90,000 per year (through your career), after the Federal standard deductions, you won’t have to pay much (if at all). For context, those…
