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re: What retirement savings balance is your goal, and by what age?

Posted on 1/2/21 at 9:08 am to
Posted by LSUtigerME
Walker, LA
Member since Oct 2012
3817 posts
Posted on 1/2/21 at 9:08 am to
quote:

Anybody else think they are doing good, just to come read the MT and get depressed?



This board and these topics always suffer from a selection bias in the responses. So we end up with the high earners/savers “bragging” about their balances and low earners who are not ashamed to post theirs.

It’s a very unrepresentative cross-section and accomplishes nothing for the OP unless he fits these categories.

As I’ve always mentioned in these threads, it is MUCH more beneficial for OP to introduce his situation and seek feedback rather than a blind poll.
Posted by SmackoverHawg
Member since Oct 2011
27389 posts
Posted on 1/2/21 at 9:12 am to
quote:

As I’ve always mentioned in these threads, it is MUCH more beneficial for OP to introduce his situation and seek feedback rather than a blind poll.


Good post. Have an upvote. I mean people asks a question and if you got shite and answer honest you get shite on. If you're broke and trying to get some advice, you get shite on. Take that shite to the OT or back to your fatass wife and your miserable life. If you think I'm talking to you...I am. (not to poster I'm replying to. Well thought out and excellent post)
Posted by AUCE05
Member since Dec 2009
42584 posts
Posted on 1/2/21 at 11:34 am to
I dont know why there is a bunch of you salty in here. All numbers posted seem feasible. The OP wanted a feel for where he is at. Maxing a 401k early and investing in stocks one can easily have 5-6 MM at 59.5. This info needs to be posted so young guys understand compounding interest.
Posted by Grinder
Member since Nov 2007
1863 posts
Posted on 1/2/21 at 10:10 pm to
quote:

It’s a very unrepresentative cross-section and accomplishes nothing for the OP unless he fits these categories. As I’ve always mentioned in these threads, it is MUCH more beneficial for OP to introduce his situation and seek feedback rather than a blind poll.


I appreciate the replies, and I do find a lot of benefit reading about other’s successes.

I’m around 10 years from retirement, and I find that while I’m good at the saving part of retirement planning, I’m not very good at determining goals and changing plans.

I have $2.4M in retirement funds and $800K in post tax accounts. My original goal was $5M in liquid retirement funds by age 60. I think I’ll achieve my original goal, but now need to decide to either retire earlier than planned or increase the goal. While I don’t love everything about my job, there are certain aspects that I greatly enjoy, and I’m very good at a highly technical, specialized job that pays me well. I’ve worked my whole career to get to this point, and have guilt about giving it up before I planned to.

Consulting financial advisors are useless in my opinion, and I’ve started seeking advice from others that have faced a similar situation.
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