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Good Post, you can definitely tell you put a lot of research and thought into your number. One question that came up for me while reading it, was do you ever plan to get married and/or have kids?
Even if you say no (in which case your girlfriend better not be reading this!), you are young so that could change. If that changes, it’s possible if not likely that your number could go up (different living arrangements, schools, weddings, vacations, etc.). Perhaps, if it’s even a possibility that you could go down that road, you should build in a few “lazy mill or so”!!
Thats a good question Ryan, and unfortunately I don’t have a good answer.
All I know is, I want to build my own house, be independent, and figure me out. Once that’s accomplished, I’ll be ready to explore this subject further.
@ Josh – Unfortunately, then, you MAY need to go back to work to pay for it! My advice? Build in the cost of supporting a ‘nuclear family’ (2.4 children and one dog – oh, and a parakeet!)
… use the $100k, $250k etc. tables to help you; also, stand by for Ryan’s post for a nifty format that you can use to plug your own categories and numbers into.
It’s also a reasonably safe assumption that if you ‘retire’ at a young age that you will do other things in the course of your life that generate income … but, the safer option is to assume not.
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