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re: Goal for retirement savings as a ratio of salary
Posted on 4/1/24 at 2:09 pm to tigerbacon
Posted on 4/1/24 at 2:09 pm to tigerbacon
The key thing is have your house paid for
That is a nest egg drainer
That is a nest egg drainer
2
Posted on 4/1/24 at 5:29 pm to Tmcgin
Having no debt/mortgage, not having to contribute for retirement will reduce your needed spend in retirement.
I go by 25 times income as my gauge of retirement readiness
I go by 25 times income as my gauge of retirement readiness
Posted on 4/2/24 at 9:32 pm to Tmcgin
I agree somewhat but if your mortgage interest rate is say 3% or so and you are earning for example 8% why would you give up that 5% difference to pay off your house?
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