re: What is your target savings and age for retirement?

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Damn. How can you make a career in one of those industries knowing you will be fired by 50?

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its pretty much every industry, although some companies are better than others at it.

I knew a lady that worked for the same place her entire life, her boss loved her, and needed to work. Laid at off 62. She is straight up fricked, as she can't find anything that gets close to paying that.

Although she is a little trashy, I know a guy that had sex with her and her daughter (not at same time).

neither knows about it either.

Subtle brag, nothing close to what a lot on here have done, but I'm excited about it.

Today I topped the 2x's salary invested mark

Still a long way away from my end goal, but a nice milestone moment.

We all plan. But the best plans of mice and men go awary.

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Just dealing with renters and upkeep on a house which you aren't living in seems like a fricking headache.

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two words for you............

PROPERTY MANAGER


Go where the money is and buy right and that cost will not kill the cash flow contrary to popular belief.

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so how does one do that?

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depends what markets you fancy. Go interview them in person. That is what i did.

i have given some answers on property management and explained some thing you are asking already in the RE thread. Go back through if you have time. There were some real good details i gave a guy in a rebuttal which i will prolly forget here.

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Where are you looking for properties lately?

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I look all over the USA.

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I could live off 30k at retirement

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That might not pay your medical insurance & drug costs come retirement time. To me that is the biggest fear.

I'm 49 and would like to retire at 62 which would give me 30 years with my company. I currently have $375K in my 401K. I contribute 12% of my salary which is six figures but just barely. Company matches only 3% so I add 15% yearly to the 401K that consistantly earns 8% a year. I will have a pension that will pay in the $4000 a month range at 30 years service at 62 years. Social security should be near $2000 a month and I'll be on paid health insurance from the company until Medicare kicks in at 65. My home is mortgage free now and is valued at $250,000 in Ascension Parish. The property was high and dry during the August floods so that appraisal might be higher now. So to answer the question to me if I have 1MM in my 401 plus my pension and my SS and draw the interest made each year off of my 401K to supplement my other incomes I think i'll be fine and comfortable. Plus I have my wife's smaller 401K and her SS coming in as well four years behind me. I think i'll be happy with that and be able to travel some and hunt and fish.

edit: Retirement calculator shows i'll have 1.3MM in my 401 in 12.5 years (62 yrs old).

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Yep. Nobody can. Wall Street always wins. You might get 18% a year then loose 50% the next. There is no winning on Wall Street. It is like gambling. How can you plan your future around something so unpredictable?

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Don't know what you are implying, but myself and probably millions of others have used simple market investments over the course of decades to create enough wealth to retire. I have been putting money into mutual funds on a regular basis for almost 40 years. My returns have been all over the map, I rode out the crashes of 1987, 2000, 9/11, 2007, etc., along with the astronomical returns at times in the 90s. My average return over 4 decades is 12%, that is how it works, and it enabled me to retire 6 years ago at age 56 after 35 years in the market.