- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Linkedin Article on retiring with $1,000,000
Posted on 3/25/14 at 6:11 pm to BigBoyTiger
Posted on 3/25/14 at 6:11 pm to BigBoyTiger
quote:
I'm 32 and I have $175K in the 401k.
That's pretty damn solid.
I'm 31 and have just over a quarter of that in my 401k. My near term goal is get to or over $200k in net worth by 35.
0
Posted on 3/25/14 at 6:13 pm to BigBoyTiger
I just turned 27 and I'm at $75k. I don't think another 100k is out of the question in 5 years. My number is $4 mill by 55.
Posted on 3/25/14 at 6:34 pm to ell_13
Retirement age depends so heavily on profession. I am a criminal defense attorney who loves his job, so I plan on working until I can't anymore. Now, I'm sure I'll cut my hours substantially at some point, but I don't plan on completely retiring until I physically can't drag myself to court anymore.
If you're in a dog eat dog job where if you aren't putting in 70 hours per week, you're fired, that calculus is going to be substantially different.
If you're in a dog eat dog job where if you aren't putting in 70 hours per week, you're fired, that calculus is going to be substantially different.
Posted on 3/25/14 at 7:43 pm to DucksnBucks37
I think 65-70 will be old for this generation (the 20-30 year olds). We seem to be more interested in time off and life balance than working day after day. The current retirement generation is working into 60s and later because it's how they were brought up, in addition to lack of savings. I do think most of today's generation does not concern themselves with retirement savings. However, I do believe people are much more aware today than 30+ years ago.
My goal is over $3M at retirement age of 55. I also have a pension, and so does my wife. I'm 27 and have $130k in my 401k, along with about $8k in ROTH. Plan to start creeping contributions slowly with raises until I hit the $17,500 limit.
My goal is over $3M at retirement age of 55. I also have a pension, and so does my wife. I'm 27 and have $130k in my 401k, along with about $8k in ROTH. Plan to start creeping contributions slowly with raises until I hit the $17,500 limit.
This post was edited on 3/25/14 at 7:44 pm
Posted on 3/26/14 at 4:26 am to LSUtigerME
I consider myself fortunate that I graduated with a salary that allowed me to start investing aggressively at 23. I'm 30 now and have close to $400k in retirement/investment accounts and $150k equity in my house. If I stay with my current company my pension would max out when I turn 53 but I may just call it quits before then. I'm about to get into real estate and that may shift that retirement age one way or the other.
Posted on 3/26/14 at 6:35 am to JL
Money board has the richest folks ever
Posted on 3/26/14 at 6:44 am to Teddy Ruxpin
quote:
I have a 401k with a company match. As an attorney, I'm very thankful to have that, as its not a profession where every one gets one. I probably won't move companies/firms unless there is a substantial raise or something similar.
Very nice. Not too many law firms offer this.
Posted on 3/26/14 at 6:45 am to tylercsbn9
quote:
I'm about $600 a month in just my 401K....I'
For 2014, I have contributed (on average) $954 per pay period (bi-weekly) to my 401K. I expect to be maxed out on my yearly contribution within the next 4 to 5 months (my bonus pay can and will fluctuate).
Like you, our house will be paid off early (not by the time we're 40, sounds like you have a great plan) compared to our friends - should be paid off by the time I reach 50. 50 to 60 is generally when people make their most money in life.
So ... we hope to retire when we are 60, maybe even sooner, providing we have no financial or health related set backs.
This post was edited on 3/26/14 at 6:46 am
Posted on 3/26/14 at 7:00 am to HailToTheChiz
quote:That's the truth.
Money board has the richest folks ever
If I am a multi-millionaire by age 40 then it might be time to start coasting a bit.
Posted on 3/26/14 at 7:17 am to Bayou Tiger
Are most of you single? Im guessing yes
Posted on 3/26/14 at 7:34 am to HailToTheChiz
quote:
Are most of you single? I
Not me. Married with two children.
Cheaper now to keep her.
Posted on 3/26/14 at 7:41 am to DucksnBucks37
Hoping to have more than 1 mil when I retire. About 1600 per month goes in my 401k if you include company match. Plus another 4% at the end of the year from the company. I'm only at around 75k right now. It feels like its taking forever! I hear it starts to take off after 100k, but it feels like I'll never get there.
Posted on 3/26/14 at 8:46 am to KG6
By age 60, I'm on track to have close to 2 mil and that doesn't even count my wife's retirement she contributes to at her job. So, counting her retirement we should be close to that 3 mil mark. I pray that we continue to have good health and good jobs.
I contribute 8% which includes a 4% company match. We also have been maxing out our ROTHs for the past few years. I don't know if we'll be able to maintain that year in and year out though. At minimum we'll contribute $7K to them though. That should be more than enough to retire, but I'll probably end up keep working just to maintain health insurance. Not having decent health insurance is what I'm scared.
I contribute 8% which includes a 4% company match. We also have been maxing out our ROTHs for the past few years. I don't know if we'll be able to maintain that year in and year out though. At minimum we'll contribute $7K to them though. That should be more than enough to retire, but I'll probably end up keep working just to maintain health insurance. Not having decent health insurance is what I'm scared.
Posted on 3/26/14 at 9:00 am to Hammond Tiger Fan
I just got a quote of what it would cost to add my wife and our child we are expecting in September to my health insurance so that she can stay home 
. Premiums jump up 650%!!!!!!!!! Retirement may not be getting maxed out in the near future.
. Premiums jump up 650%!!!!!!!!! Retirement may not be getting maxed out in the near future.Posted on 3/26/14 at 9:31 am to BigBoyTiger
quote:
I'm 32 and I have $175K in the 401k.
this fricking place
everytime i think im in good shape this board just craps all over my hopes and dream.
29 and 95k in the 401k
Posted on 3/26/14 at 9:45 am to KG6
quote:
I just got a quote of what it would cost to add my wife and our child we are expecting in September to my health insurance so that she can stay home . Premiums jump up 650%!!!!!!!!! Retirement may not be getting maxed out in the near future.
She better take her arse to work after 6-8 weeks.
Posted on 3/26/14 at 9:47 am to CE Tiger
quote:
29 and 95k in the 401k
You're in better shape than me. I didn't start until age 27. I probably only had about 25k or so at 29. Now, in all of our accounts combined we have about 175k
This post was edited on 3/26/14 at 9:53 am
Posted on 3/26/14 at 10:01 am to DucksnBucks37
quote:
anyone else feel like the market will only return 6% average over the next 30 years?
No clue obviously and 30 years is just too long to predict but I think that a savvy investor could come in above 6% over 30 years assuming.
I tend to think in terms of 5 and 10 year increments re: what I want to accomplish ...in the market and elsewhere.
I will be in seriously deep doo doo if I try to retire with $1,000,000.
Posted on 3/26/14 at 10:06 am to Monk
quote:
She better take her arse to work after 6-8 weeks.
We will be moving for my job by the end of the year, so it really throws a wrench in the system for her finding a new job. It's just awkward timing. I'm pretty sure I can keep my retirement contributions the same. It's just going to put a hit on our spending habits for a while and that's tough to do once you've become familiar with a lifestyle. Going from making 150/ year to 100/ year is a big hit especially when you have a new kid.
Posted on 3/26/14 at 10:21 am to KG6
quote:
We will be moving for my job by the end of the year, so it really throws a wrench in the system for her finding a new job. It's just awkward timing. I'm pretty sure I can keep my retirement contributions the same. It's just going to put a hit on our spending habits for a while and that's tough to do once you've become familiar with a lifestyle. Going from making 150/ year to 100/ year is a big hit especially when you have a new kid.
All understandable
Just keep trying to do what's best for you family. Everything will work out.
Page 2 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News