I’m 26 and I need advice on whether I should change something about my financials to get to my early retirement goal of 50!
My financial breakdown is as follows.
Crypto total $51,000 (40,000 cash)
Stocks total $38,000 (20,000 cash)
Pokémon cards $32,000
Gold/silver $10,000
Savings account $20,000
Retirement accounts $50,00
Home equity $150,000
Debt:
house $230,000
Cars $30,000
I know Pokémon cards is high and I’m cash heavy in market right now but I’m curious if there something I should focus on / change/ do etc Just general advice please! I would like to retire by 50 🙂
(Note the numbers are me and my wife’s combined numbers not just me personally) numbered are close not exact.
Need Advice on my financials should I keep things the way they are rotate some? My goals to retire by 50!
byu/DevLeww inpersonalfinance
Posted by DevLeww
1 Comment
Without knowing how much money you’re contributing to these accounts each month, and how much income you expect to need to maintain your lifestyle after retirement, it is impossible to say. These accounts will not grow to a point where two people can retire comfortably in 24 years without additional contributions, especially as you’ll need to self-fund health insurance for 15 years until Medicare eligibility (assuming no changes to U.S. healthcare structure).
With crypto and Pokémon cards accounting for nearly half of your investments, your current portfolio mix has a lot of volatility and risk.