A Paradigm Shift for My Financial Goals

When I first created pluggedinfinance I started with an original goal of $80k / year in passive income and a retirement age of 47. Retiring at 47 would have allowed me to beat my Grandfather who retired at the age of 48.

Recently, I changed my goals to $125k / year in passive income and deferred my retirement age to 51. I increased my passive income goal in a first attempt to incorporate what I forecast $80k in 2006 dollars to be equal to in 2025. I also am deferring my retirement age by 4 years not because I think it's necessary to meet a financial goal, but to factor in the fact that I want to make every attempt to stay in the Navy for the maximum of 30 years and retire at the rank of Captain (equal to Colonel in other services). I could stay in beyond 30, but it would require making the rank of Admiral which is only a 1 in 20 possiblity. Attaining this rank and serving 30 years would be a significant life achievement and would ensure that I never second guessed myself in retirement as to whether or not I realized my potential. Hey, and a 30 year Captain's Pension is about $84k/year.