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Posted on 2/27/24 at 1:19 pm to JDPndahizzy
quote:
I quickly realized I'll work til I drop dead
Well, generally your money will still be earning you something in retirement. Also, most people include social security. No idea what that will look like in the future though so it's hard to calculate.
Posted on 2/27/24 at 1:19 pm to cubsfan5150
quote:
Quit making threads
Posted on 2/27/24 at 1:20 pm to BK Lounge
My 401k has gone up a bit but nowhere near 2mil
Posted on 2/27/24 at 1:21 pm to fareplay
I ask myself that everyday driving to work. My house is paid off and between my 401k and brokerage account I’m worth about 2 million. At 47, I keep telling myself I’ll be fine retiring at 50. That’s not counting social security kicking in later in my 60s (~$3000/month if factoring it in).
My concern is simply property taxes (Texas), insurance (home and heath) are completely out of control. That’s what keeps me going to work which is pretty damn sad.
My concern is simply property taxes (Texas), insurance (home and heath) are completely out of control. That’s what keeps me going to work which is pretty damn sad.
Posted on 2/27/24 at 1:22 pm to BabyTac
Yeah early retirement seems super inefficient but I’m also young (33) and can’t rely on Medicare being a thing when I retire either
Posted on 2/27/24 at 1:23 pm to fareplay
You and babytac should try and make a baby together
Posted on 2/27/24 at 1:24 pm to thegreatboudini
quote:
You're the new BabyTac
Damn…I’m TD famous.
Posted on 2/27/24 at 1:25 pm to fareplay
You're 33? Wtf. Keep working and contributing to your 401k and don't do stupid shite.
Posted on 2/27/24 at 1:27 pm to BabyTac
quote:
My concern is simply property taxes (Texas), insurance (home and heath) are completely out of control.
That and healthcare. You retire at 50 and you’ll need to cover health insurance for yourself at minimum.
I still have two kids to put through college so I have to get to 60 before I can even think about it.
Posted on 2/27/24 at 1:27 pm to fareplay
I have my retirement calculated at 72
I had a kid late in life which changed things
I had a kid late in life which changed things
Posted on 2/27/24 at 1:28 pm to El Segundo Guy
I don’t aspire to retire by 65, want to target 50
Posted on 2/27/24 at 1:28 pm to fareplay
You've got 17 years minimum. Keep saving and quit worrying about shite.
Posted on 2/27/24 at 1:29 pm to SquatchDawg
It’s assanine to think between healthcare and taxes one has around a $2000/month bill. This country is so in decline.
Posted on 2/27/24 at 1:29 pm to El Segundo Guy
Yeah, idk my investments are ok but only started making real money last 3 years so catching up
Posted on 2/27/24 at 1:31 pm to SquatchDawg
quote:
I still have two kids to put through college so I have to get to 60 before I can even think about it.
Ours should all be out of college by the time I'm 51-52, but I won't be financially ready by then. I'm hoping for 62 but we'll see how it goes.
This post was edited on 2/27/24 at 1:33 pm
Posted on 2/27/24 at 1:32 pm to fareplay
quote:
I don’t aspire to retire by 65, want to target 50
My advice to you is to pay off all your debts including house and cars. Contribute to your 401k the equivalent of what the company matches. Contribute everything else monthly to Vanguards 500 index fund, growth fun, and a QQQ type. You concentrate on those things at your age, you’ll be fine at 50.
Posted on 2/27/24 at 1:33 pm to SquatchDawg
Take 70% of your gross salary. Apprx that's what you'll need during retirement. Subtract SS, pension and/or any other retirement income. If there's a gap then you'll need to draw the difference from personal investments Roth IRA and retirement plans. Being debt free is tremendously important
Posted on 2/27/24 at 1:33 pm to BabyTac
We still got ~880k left in mortgage but expect paid off in 10 years or so. Max roth max 401 etc etc but still by 50 seems tough. We have a advisor via vanguard but seems underperforming
This post was edited on 2/27/24 at 1:34 pm
Posted on 2/27/24 at 1:35 pm to fareplay
Goddamn, didn’t you just ask this question a week ago.
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