No debt at all....Substantial savings. I was a firm believer of saving as much money as I could starting in my 20's. I'm 50 next month and I don't need to ever work again unless I choose to. I have also convinced my children to do the same. People over spend in this country and then blame everyone else when they have money problems.
Harrington:
Good for you. When you state that you don't ever have to work again, what rate of return are you assuming going forward on your nest egg? Are you assuming living off the interest of "safer" investments like bonds and cds? If you are in good health, then you will probably live till over 90 and that is a long time to live off of an egg. I was one of those that spent pretty much everything I could before 2008 when I started to live on less and save more.
Good for you. When you state that you don't ever have to work again, what rate of return are you assuming going forward on your nest egg? Are you assuming living off the interest of "safer" investments like bonds and cds? If you are in good health, then you will probably live till over 90 and that is a long time to live off of an egg. I was one of those that spent pretty much everything I could before 2008 when I started to live on less and save more.
I live off off my interest and dividends.....Principle stays about the same. I can live till 100 easily. And that's not counting Social Security and a small pension when I hit 65. I did without for many years and now it's time to have a little fun. I put three kids through school and they did not disappoint me.
