Yes, I am 51, it takes planning and a clear view of what you need and want in life.
I will give a short description of how I have explained this to a few people.
Please don't take to much notice of the numbers, they are just for explanation purposes. Your numbers will be different to my numbers. My numbers may be different to the example. Also I am not providing financial advice, just an idea for you to consider.
I have come up with an amount that for me, I believe my wife and I can live a basic life on. Lets say it is an average of $100 a day. So for $36500 a year I can cover all my bills, eat, own a very modest car and update as required and have basic entertainment. If I index this for inflation I have a worst case scenario of what I need to exist.
I have a second amount, lets say $200 a day or $73000 a year. This would give me, what for me would be a very comfortable life.
I have a third amount, lets say $300 a day or $109500 a year after tax. For me this would cover everything that I would want for the best life I want to live.
As I said don't take to much notice of the numbers, if you like to travel first class, update your Aston Martin each year you may need different numbers. Also if you want to live self sufficient in a small hut in the Tasmanian wilderness your three numbers may be quite low.
To take the jump, in my opinion you have to have an understanding of what the basic life will cost and is it achievable. Lets say you have some savings, some rental income and super you can access at 60 and no debts. Using a program like this
https://www.calcxml.com/calculators/...kn=#calcoutput you can see if you think you can survive ($100 a day) until 80. A lot of over 80's tend to spend less on entertainment and such. In ten years time you can review and maybe aim for 85.
You can also have an idea of how much you need to earn to achieve your ($200 a day) lifestyle.
The ($300 a day) is to keep you grounded. If I had to I could spend $1000 a day but I don't think I would be any happier. As your assets or super grows, maybe an inheritance or lotto win, you can taper of your earnings and still achieve your ($300 a day) lifestyle.
Now you know what you need you can work out how you can achieve it, and is it realistic. If it means making 200 + trailers a year, you may need to consider other ways.
My strong advice is be very honest with yourself. Decide what you want out of life before working out the dollar value. When I say yourself, if you have a significant other, make sure you know what sort of life they want.
There is a bit more to this and how to achieve it, but it is an introduction.
Steve