After attending one or more presentations, many members have also visited me for personal advice. I believe only a fool would suggest there is just one track that leads to financial independence and, certainly, only a fool would suggest that with so few absolutes it would be possible to quantify the strategies you should follow. Nonetheless, let me suggest a track for members to follow toward financial independence. At retirement, in addition to your pension and Social Security benefits, you should have an investment portfolio equal to five times your income. Assuming you do not wish to work in retirement, that balance will need to come from investments.
Many retirees live on much less.
However, if you have five times your pre-retirement income in investments, you should have minimal concerns about future income tax changes, escalating health insurance costs, auto replacement every five to seven years, winter trips, gifts to children and grandchildren, etc. Due to moving up steps and across lanes on the salary schedule, earning will go up the first 15 years, but will be essentially the same the last five years. The investment portfolio will approximately double every five years based on earnings and new deposits. Pre-registration is required. Seminars continue throughout the school year.