Our household makes over $400k per year and we want to have the option to retire in 20 years - are we on track?

The article discusses the importance of planning for retirement, particularly for a couple in their mid-30s aiming to retire in their mid-50s. They have a strong financial foundation with $1 million and an annual income of $400,000. By saving a significant portion of their income, they could potentially amass a retirement portfolio of over $6 million. The key message emphasizes prioritizing savings and avoiding lifestyle creep while considering working with a financial advisor to stay focused on their goals.

Working with a financial advisor can help you stay on track for your retirement goals, ensuring you prioritize savings and avoid lifestyle creep.

With a $400,000 income, saving 20% can lead to a $6 million portfolio by retirement, making early retirement plausible for this couple.

Read at 24/7 Wall St.