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What is your target savings and age for retirement?
Posted on 12/30/16 at 2:55 pm
Posted on 12/30/16 at 2:55 pm
I know the amount required depends on lifestyle, etc. I'm just curious what people's targets are. I plan to retire from my current job at 55, but plan to continue working for enjoyment where ever I move to when I retire or to focus on my real estate investments. I'd like to have $2.5M in savings. What are your targets?
21
Posted on 12/30/16 at 3:00 pm to Ramblin Wreck
My goal is to have between 7-10 million and retire at 67. I am 35 now with 325k in the market and 2 rental properties that are 50% paid for. I am putting the max into my 401k and exploring additional rental property in 2017.
Posted on 12/30/16 at 3:00 pm to Ramblin Wreck
Depends how old you are
Retiring in 5 years with $2.5mil is different than 30 years with 2.5 mil
Retiring in 5 years with $2.5mil is different than 30 years with 2.5 mil
Posted on 12/30/16 at 3:02 pm to GenesChin
quote:
Depends how old you are
Retiring in 5 years with $2.5mil is different than 30 years with 2.5 mil
True, I left that out. I'm 50.
Posted on 12/30/16 at 3:12 pm to Ramblin Wreck
Does the $2.5 million include (1) your house; (2) the value of your investment properties?
Posted on 12/30/16 at 3:18 pm to Halftrack
quote:
Does the $2.5 million include (1) your house; (2) the value of your investment properties?
No, just my savings
Posted on 12/30/16 at 3:25 pm to Ramblin Wreck
My goal is 12 x my annual salary when I "retire"
I don't ever plan to quit working and/or volunteering but won't do that full-time either in retirement.
I don't ever plan to quit working and/or volunteering but won't do that full-time either in retirement.
Posted on 12/30/16 at 3:26 pm to Ramblin Wreck
quote:
What are your targets?
2.5m at 60 w/ everything paid off
So I'd have a net worth near 3m with no debt.
I think I can live 20yrs off of that
Posted on 12/30/16 at 3:31 pm to Ramblin Wreck
38 now
Retire at 55
$3.5m
Retire at 55
$3.5m
Posted on 12/30/16 at 3:47 pm to Teauxler
quote:
Retire at 55
$3.5m
Damn, I feel like a failure
Posted on 12/30/16 at 3:59 pm to Teauxler
Do you plan to live off 4% of the 3 mill or just amortize it out?
Posted on 12/30/16 at 4:36 pm to Ramblin Wreck
mid 30's now. 3.0M in investment assets at age 57 as well as a 50% salary pension is the goal. Will have to hit 57 years old to get the 50% but will be eligible to immediately start collecting. Hell, even if I don't hit the 3M, I think I'll be okay. 
This post was edited on 12/30/16 at 4:37 pm
Posted on 12/30/16 at 5:11 pm to Costanza
This thread depresses me
If you are 30, how much do you need to invest yearly to accumulate $1 million by 65?
If you are 30, how much do you need to invest yearly to accumulate $1 million by 65?
Posted on 12/30/16 at 6:39 pm to HailToTheChiz
Assuming ~5% gains, you need to invest a little more than $10k every year to hit that.
Posted on 12/30/16 at 7:01 pm to HailToTheChiz
And in 35 years that $1mil ain't what it is today.
Posted on 12/30/16 at 7:28 pm to Ramblin Wreck
Never thought about it, really didn't think i'd live this long. Too late now.
Posted on 12/30/16 at 8:08 pm to Ramblin Wreck
Just turned 28
Hoping to pull 1 million out of Roth when I retire at 60...plus teacher's pension.
Hoping to pull 1 million out of Roth when I retire at 60...plus teacher's pension.
Posted on 12/30/16 at 8:44 pm to Ramblin Wreck
So what is the average amount of household y'all are putting back a year and total investment a year based on any company match?
Posted on 12/30/16 at 9:09 pm to Colonel Flagg
Target was $2m at age 55 (includes residence)
Done.
Now, people say that I will live another 30 yrs.
So, new decisions . . . decisions. Still looking for what to do when I grow up.
Done.
Now, people say that I will live another 30 yrs.
So, new decisions . . . decisions. Still looking for what to do when I grow up.
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