How a 29-year-old retires from a six-figure career
had a goal of leaving the workforce by age 29. She has been saving since the tender age of 16, and has been planning her exit from corporate America for years. With two very small children, she's going to spend more quality time with them, but won't feel a financial pinch thanks to smart planning.
Did you ever think retiring at age 29 was even possible? I suppose most of us don't think it can happen for us. But Madison's site offers lots of information on how she and her husband were able to make this happen. She's not fully retiring. She'll be doing some professional blogging, but because of smart planning, she doesn't need to pull in six figures from it.
You can learn how Madison did this on her site, but here are a few of the highlights. Although Madison had a job with a six-figure compensation package, she figured that 2/3 of her earnings were going to pay for childcare and taxes. In her "retirement," she'll be slashing 60% off childcare costs. She was also putting a lot of her earnings into savings in preparation for her retirement. Madison estimates about 15% of her and her husband's salaries were going into retirement savings. She no longer has to worry about that chunk of money.
