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Retirement Review -- Am I on Track?
Posted on 5/25/17 at 11:37 am
Posted on 5/25/17 at 11:37 am
(no message)
This post was edited on 6/19/17 at 5:40 pm
15
Posted on 5/25/17 at 11:39 am to BabyCakes
Dude, shut the hell up. Do you really need a pat on the back?
Posted on 5/25/17 at 11:42 am to lsupride87
Thanks for the constructive response. I've been a fan of this board for a while and think I'm behind most that I have seen post.
It's an honest thread and I'd like to see if I need to change anything. For example, maybe I should invest less in strictly retirement accounts?
It's an honest thread and I'd like to see if I need to change anything. For example, maybe I should invest less in strictly retirement accounts?
Posted on 5/25/17 at 11:43 am to BabyCakes
I am not offering advice, nor am I taking a thread started by someone who has 500k in retirement at 33. It is a clown thread bro
Posted on 5/25/17 at 11:45 am to lsupride87
quote:
It is a clown thread bro
:kige:
ETA: I actually thought it may have been a real thread, just wanting a pat on his back until I got to the 500k comment, then I realized that this was a troll.
This post was edited on 5/25/17 at 11:48 am
Posted on 5/25/17 at 11:48 am to BabyCakes
This is one of those posts where I just think "frick my life" before I'm even halfway done reading it. You're doing ok.
Posted on 5/25/17 at 11:49 am to BabyCakes
All depends on what you want to do when you retire. If you want to buy a yacht and own an island, maybe dabble in owning some sport team, I would say you are behind. If you just want to travel and what not I would say you are doing great. And the other guy is right, thread was not needed.
Posted on 5/25/17 at 11:59 am to BabyCakes
Clown thread. No self respecting man makes less than 200k.
Posted on 5/25/17 at 12:09 pm to MrSpock
What else do you want us to tell you to do if you are saving 30% and have $500k by age 34? You are doing well, just continue on with it.
Posted on 5/25/17 at 12:26 pm to baldona
Should I invest less in retirement and move it to a mutual fund not in a retirement account?
Also, do you think it's better to lower the traditional 401k investment and divide it between traditional 401k and Roth 401k? Should it be an even split between traditional 401k and Roth IRA/Roth 401k?
Also, do you think it's better to lower the traditional 401k investment and divide it between traditional 401k and Roth 401k? Should it be an even split between traditional 401k and Roth IRA/Roth 401k?
Posted on 5/25/17 at 12:42 pm to BabyCakes
quote:
Retirement Review -- Am I on Track?
No you are WAY behind.
Plugging your numbers into a conservative retirement calculator says you will only have about $11,000,000 when you retire and that will only grow to about $30,000,000 by the time you die (assuming you live a long life).
Are you seriously asking if a 34/33 couple making $180k and saving 29% of their gross every year with $500k+ already banked is on track? You are on track and you know that of course.
This post was edited on 5/25/17 at 12:47 pm
Posted on 5/25/17 at 12:44 pm to BabyCakes
I think you are over thinking it. No, just invest your money. Any principle you put into a Roth IRA you can take out at any time, so max those out and you have access to that $5500 anytime.
You make enough, that if you ever needed less in retirement you can simply stop contributing so much and have some cash.
You make enough, that if you ever needed less in retirement you can simply stop contributing so much and have some cash.
Posted on 5/25/17 at 12:46 pm to BabyCakes
quote:
Also, do you think it's better to lower the traditional 401k investment and divide it between traditional 401k and Roth 401k? Should it be an even split between traditional 401k and Roth IRA/Roth 401k?
With the numbers you have provided you should be doing Roth. You are going to be ultra rich in retirement and odds are you will be in a much higher tax bracket. Seems you be better off paying most of the taxes now instead of when you retire to the top 1%.
Posted on 5/25/17 at 12:47 pm to BabyCakes
quote:
Thanks for the constructive response. I've been a fan of this board for a while and think I'm behind most that I have seen post.
why does it matter where you stand vs others?
Posted on 5/25/17 at 12:48 pm to BabyCakes
Dude, you're going to have millions upon millions in the bank at 60. You'll be alright.
Posted on 5/25/17 at 12:59 pm to elposter
Good point. My thought was that it should be at least evenly split between the two to allow for tax flexibility in retirement.
Posted on 5/25/17 at 1:27 pm to BabyCakes
Max out the Roth ASAP. Your combined income is approaching the cut off limit like $196,000 for a married couple. You may already be in contribution phase out window which starts at $186,000.
Posted on 5/25/17 at 1:39 pm to BabyCakes
quote:
we have three kids, all under 2
Ouch!!
Posted on 5/25/17 at 1:39 pm to PlanoPrivateer
quote:
Max out the Roth ASAP. Your combined income is approaching the cut off limit like $196,000 for a married couple. You may already be in contribution phase out window which starts at $186,000.
this.
It sucks not being able to contribute to roth.
Take advantage of your retirement accounts but you probably need non retirement assets outside of your house at this wealth level. You don't break it down, but if high wealth individuals, you need at least 30-40% not in retirement accounts to retire very early.
congrats on saving like that.
Posted on 5/25/17 at 1:42 pm to BabyCakes
quote:
d think I'm behind most that I have seen post.
Yea, im gonna need a link on this bullshite.
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