Early Retirement Goals

-Written by Cel

Our goal is to be retired (that is, earn enough money to support ourselves through passive investments) within the next 15 years.

Some people experience personal fulfillment through their careers. For us, that isn’t the case. We work hard, and take pride in a job well done, but neither of us feel that our careers are a source of fulfillment. They are more of a means to an end, enabling us to do what we enjoy, such as travel, biking, hiking, reading, writing, and various leisure activities like video games, concerts, and shows.

Take travel, for instance. We are limited to fairly short trips (around 1-2 weeks at the most) due to our jobs. We also have to pay a premium for flights at a specific time and location, rather than taking the cheapest possible options.

Were we retired, we could spend several weeks traveling across Europe, traveling slowly but cheaply, and go where we want. Indeed, this is something we intend to do.

Retirement gives us options. Neither of us is the type to sleep in till noon – but it would be great to have the ability to do so, should we want it.

In order to retire within 15 years, we have to save slightly over half of our take-home income. See this link for the math:

The Shockingly Simple Math Behind Early Retirement

This year in 2013, our savings rate (of take-home pay) as a couple was about 60%. My savings was around 55%, and Steph’s was about 65%. Our incomes are not particularly high – we made approximately 65K (gross) combined.

How do we save this much, while living in downtown Vancouver, and going on two international vacations a year? We will discuss our budgetary breakdown in subsequent posts!

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