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Like the title says. My wife and I save 3100 dollars monthly. What are your suggestions on investing to reach financial independence in max 15 years? Our living costs are around 1300 dollars a month.

user
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1 Answers1

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Sounds doable.

Just put into a 2030 Target Date fund of your choice.

If you put $3100 per month for 15 years, assume a very conservative 5% return, you should get $830,000 at the end.

Imagine that your living cost increases with target inflation of 2%, $1300 x 1.02 x 1.02 ... x 1.02 (15 times) = $1750 per month.

Assume conservative Safe Withdrawal Rate of 3%.

$830,000 x 0.03 / 12 = $2075 > $1750.

base64
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