5 Ways to Retire With $5 Million by Age 55

Here at Physician on FIRE, I like to help people figure out how they can set themselves up to not only retire early, but to also retire well. Five million dollars should do the trick.

According to DYQDJ, that would put you at about the 98th percentile in terms of U.S. net worth (primary home equity excluded). That’s definitely fatFIRE.

How does age 55 sound? Yes, there are people out there who have retired by 45, 35, and younger, but you do need some time to amass that big nest egg.

#1 Slow and Steady Wins the Race let’s say you finish high school at 18 and graduate from college at 22 with a degree that will help you land a good job. In college, you met someone who followed a similar path.

#2 Develop a Remarkable Talent or Product While it’s true that slow and steady wins the race, it’s also true that there are many thousands of people each earning millions of dollars every year. If you happen to be exceptionally skilled at something, particularly something athletic or artistic, you may be able to follow that passion to a big payday.

Through some combination of skill, luck, hard work, and perhaps connections, you might join the ranks of the highly paid actors, actresses, singers, performers, athletes, Youtubers, etc… Even the top 10 video gamers average 8-figures apiece in annual earnings.

Read The Full Article By Clicking Below....there's so much more.

more articles...

How to Build Wealth on a $150k Salary

$25,000 Donated to COVID-19 Relief

How Much Money Does a Doctor Need to Retire?

White Scribbled Underline
White Scribbled Underline