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re: 401(k)
Posted on 1/15/18 at 4:39 pm to In The Know
Posted on 1/15/18 at 4:39 pm to In The Know
put down the crack pipe. Nothing like someone coming to tigerdroppings bragging that they have 1/2 million in their 401k...only to ask if this is a decent amount. GTFO.
1
Posted on 1/15/18 at 9:12 pm to basiletiger
quote:
put down the crack pipe
$530k is certainly a nice start. But at a safe withdrawal rate (~4%) that's only $21k annually to live off of. If he triples it by retirement it still only yields $60-65k annually or he risks out living his nest egg. Most Americans are woefully unprepared for retirement so I'd keep aiming for well above average contributions.
Edited to correct math
This post was edited on 1/15/18 at 10:51 pm
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