@cat1965 I actually remember learning the formula in Algebra and went old-school with a pen, paper, and calculator. I did however use calculator.net to double check. When I wrote $9.3 million on my paper, I thought for sure I was wrong haha. Thank you though, never too early to start planning my future
@davidixoye To answer your basic question how how much your initial investment with contributions be with in 45 years, Investor.gov is a website that has a bunch of different financial tools, including interest calculators that allow you to plug in all of that information and a variance for the expected interest rate.
@davidixoye If I was you I would check out the Coast fire sub, and I would retire around 3-4 million and do a 4% withdrawal. One thing with construction is it’s hard on your body. If you can retire in your 30s and save your knees and back you’ll appreciate it and with this arrangement you are very lucky you can retire in your 30s or 40s. Since you’ll have a background in construction and electrical you can own a few rental properties and when things break you can save money by fixing them yourself.
