What does this look like when you're 51 years old and want to retire in 4 years? I'm not done serving but I want to be done working to pay bills. Here are some real questions I have to consider:
Have I done enough planning?
Can live off what I've invested and saved?
Am I ready?
How much debt do I still have?
Is my income enough?
Realistically if I count the cost today, no I can't retire.
Here's what I decided to do, maybe it'll help someone:
Calculate my net worth, assets minus liabilities.
Gain two additional sources of income.
Create a real world budget with all of my expenses, income, savings, dreams, and desires.
Run a financial calculator to see how long it'll take to clear my lowest to highest debts and meet it.
Run a financial calculator to see how much income I'll need in retirement after those debts are clear to maintain essentials and a good life.
Create a financial plan, stick to it, and live.
Retire in 4 years.
Can I let you know how this works out? Maybe a quick update in 12 months.
Don't live in debt, be indebted to live and love.
Romans 13;8 NIV
Let no debt remain outstanding, except the continuing debt to love one another, for whoever loves others has fulfilled the law.