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re: How old are you and how much goes toward your retirement each month?
Posted on 12/11/21 at 3:29 am to TDsngumbo
Posted on 12/11/21 at 3:29 am to TDsngumbo
quote:First off, you are doing better than "typical" but no idea if that's "enough" without an idea of your income and spending (now and in retirement).
Is that typical or too much?
You're asking the wrong ?s if you want to know if you'll be prepared to retire. Typical isn't gonna cut it, typical for MT posters, maybe. Ask yourself how much you plan to spend in retirement (minus any other income sources), adjust for inflation, estimate your safe withdrawal rate, figure out how much investment you will need at that rate to meet your spending needs. Instead of doing all that, I just got aggressive early. I've been maxing a 401k and 2x Roth IRAs since late 20s. By 30s I was throwing any extra at mortgage (rates were higher then) and non-retirement brokerage. Now I can fully retire at 45! Don't limit yourself by aiming to just do enough.
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