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Countdown To Financial Independence

1,235 Days Left Until Early Retirement

I’m sure this is unhealthy on so many levels but I am gonna start counting down the days left to my retirement. I did something similar when I was paying down my student loans and it worked well.

My ‘retirement’ date is 5/21/2015. I picked that date because it will be my 10-year anniversary with this medical group. By working 10 years, I will have vested in their pensionĀ program.

For every year that I have worked I will get 2% of my base pay. The base pay is calculated by taking the highest 3 consecutive years and averaging them out. In my case the base pay would be somewhere around $300,000 (gross). Therefore, the pension will be approximately $60,000/yr from age 65 onward. I’m guessing after taxes I’ll be left with around $30k.

What is retirement? It’s the date that you reach financial independence. Retirement doesn’t mean you must confine yourself to a rocking chair.

I like this Gallup survey chart because it indicates that those in the 18-29-year-old age range want to retire before age 55. As this group ages, they start leaning more towards a traditional retirement age. Is it because they didn’t save enough? Is it because they just thought that retiring early is weird?

I used the ‘duration’ function of this online calculator to get 1,235. Which really doesn’t seem that long. In the meantime, I’ll keep answering questions like: “But what would you do when you’re retired? Aren’t you going to get bored? What would you do with all that free time?”

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