"Is this path realistic?": Millennial worker plans to bank $3 million in the next 5 years and retire - will it work?
Briefly

from 24/7 Wall St.5 months ago
The Redditor has a net worth of $1.85 million and is aggressively saving $310,000 a year to reach a $5 million target for early retirement.
24/7 Wall St.https://247wallst.com/personal-finance/2024/10/01/is-this-path-realistic-millennial-worker-plans-to-bank-3-million-in-the-next-5-years-and-retire-will-it-work/
Commenters raised concerns about the heavy reliance on real estate for net worth, suggesting it may not be generating sufficient cash flow to support retirement plans.
24/7 Wall St.https://247wallst.com/personal-finance/2024/10/01/is-this-path-realistic-millennial-worker-plans-to-bank-3-million-in-the-next-5-years-and-retire-will-it-work/
With a current income of $700,000, the Redditor and spouse maintain a frugal lifestyle, only spending $180,000 annually, which includes a significant mortgage payment.
24/7 Wall St.https://247wallst.com/personal-finance/2024/10/01/is-this-path-realistic-millennial-worker-plans-to-bank-3-million-in-the-next-5-years-and-retire-will-it-work/
Despite the ambitious goal of retiring at 40, the strategy may need reassessment due to the risks associated with being heavily invested in real estate.
24/7 Wall St.https://247wallst.com/personal-finance/2024/10/01/is-this-path-realistic-millennial-worker-plans-to-bank-3-million-in-the-next-5-years-and-retire-will-it-work/
Read at 24/7 Wall St.
#early-retirement #real-estate-investment #financial-independence #retirement-planning
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