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re: 45 Years of age, at what level would you stop saving for retirement?
Posted on 9/3/26 at 4:36 pm to nolaks
Posted on 9/3/26 at 4:36 pm to nolaks
quote:
stop saving so aggressively and go enjoy a little more
This just seems like clickbait. If you feel your traditional 401k is adequate, move over to a brokerage or a Roth. I bet your 60 year old self will appreciate the flexibility that will provide.
Posted on 9/3/26 at 4:39 pm to nolaks
If you ever reach a point where you can just spend monthly interest, and necer touch the principle then you are at a level where you don’t need to save anything.
So if you did have 800,000 in the bank, and 4% interest, that’s 32,000 a year in interest. If you can live on 2,500 a month that nest egg can last you the rest of your life
So if you did have 800,000 in the bank, and 4% interest, that’s 32,000 a year in interest. If you can live on 2,500 a month that nest egg can last you the rest of your life
Posted on 9/3/26 at 4:47 pm to TheOcean
quote:Travel and other people.
But what the frick am I going to spend my money on? There's only so much shite you can buy
Posted on 9/3/26 at 7:26 pm to Big Scrub TX
quote:
Travel and other people.
I could up my travel on flights but I’m cheap.
I’d rather guns I won’t shoot
This post was edited on 9/3/26 at 7:29 pm
Posted on 9/3/26 at 7:48 pm to nolaks
Following the rule of 72s and assuming 10% gains per year average and assuming 20years before needing the money, you could expect 2 doubles between 40 and 60.
So not investing another penny you would expect 800k to double to 1.6M and double again to 3.2M.
Will 3.2M be enough to comfortably retire 20 years from now is the real question.
So not investing another penny you would expect 800k to double to 1.6M and double again to 3.2M.
Will 3.2M be enough to comfortably retire 20 years from now is the real question.
Posted on 9/3/26 at 7:52 pm to TigerMan327
quote:
If I can get my 401k to 1M by 40, I plan to stop doing any in 401k and just stick with investing in taxable brokerage accnt.
This makes almost zero sense.
For starters the company match.
If anything you should invest in a ROTH IRA and manage the investments yourself.
Many companies these days have ROTH 401ks and self directed 401ks
Posted on 9/3/26 at 8:34 pm to TigerMan327
quote:
If I can get my 401k to 1M by 40, I plan to stop doing any in 401k and just stick with investing in taxable brokerage accnt
You would likely be better off paying a 10% penalty on early 401k than using a brokerage.
Posted on 9/4/26 at 9:04 am to TheOcean
quote:
what the frick am I going to spend my money on?
hookers? blow?
Posted on 9/4/26 at 9:51 am to notsince98
quote:
You would likely be better off paying a 10% penalty on early 401k than using a brokerage.
I’m not following this. Could you explain a little?
Posted on 9/4/26 at 9:55 am to Python
You have to do the math for each situation but for someone with no other income, many times paying 10% early withdrawal penalty puts more money in your pocket than going the brokerage route. It is really hard to beat the tax savings from the traditional accounts.
Posted on 9/4/26 at 10:29 am to beaverfever
quote:
Buy hard assets, specifically precious metals and bitcoin.
Nobody wants a stack of metals to sit on
GLD, SLV, and BTC ETFs are fine
Posted on 9/4/26 at 10:31 am to TheOcean
quote:
I'm technically at a level at 38 where I could not invest another penny and would not have to worry about retirement. But what the frick am I going to spend my money on? There's only so much shite you can buy
You have a wife and kids? Spending is the problem for us
and we’re not eating out often or buying a lot. But a cost of schooling and a couple nice vacations a year will burn a lot of moneyPosted on 9/4/26 at 10:36 am to nolaks
If you don’t need the money now keep putting it in your 401k. Then that 60 retirement goal might move up to 55. At least that’s my plan.
This post was edited on 9/4/26 at 10:37 am
Posted on 9/4/26 at 10:49 am to nolaks
Maybe lower contributions but I wouldn't go lower than the full match your company gives you.
Posted on 9/4/26 at 12:38 pm to notsince98
quote:
You have to do the math for each situation but for someone with no other income, many times paying 10% early withdrawal penalty puts more money in your pocket than going the brokerage route. It is really hard to beat the tax savings from the traditional accounts.
Yes, I understand that but I have a brokerage account and for a very long time, my withdrawals will only be considered long term gains which, because I’m managing my income level via strategic withdrawals, will be at a zero tax rate. In essence, it’s almost just like a Roth.
Posted on 9/4/26 at 12:42 pm to Python
The comment was not about money already in a brokerage.
Posted on 9/4/26 at 3:30 pm to Rize
quote:For any international, gotta buy lie-flat seats.
I could up my travel on flights but I’m cheap.
I've been buying watches and experiences for people.
Posted on 9/5/26 at 7:46 am to Big Scrub TX
quote:
For any international, gotta buy lie-flat seats. I've been buying watches and experiences for people.
Yeah I’m flying to the Bahamas in 2 weeks and I got free flights through my company. Was too cheap to upgrade to 1st class. Some years I do and some years I don’t. Couldn’t find a direct flight so I think it was around 2100 for wife and I. Just figured I could tough it out for a couple hrs.
Haven’t really been very far on flight.
Just found out Wife surprised me with upgrade to 1st class for the 1st leg of the trip $490 but free checked bags. I’m not spending $600 for a 1 hr flight from Bahamas to Miami on the way back but may look at Miami to Houston a few days before to see if prices drop.
This post was edited on 9/5/26 at 9:16 am
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