Retirment Goals

[Flores]

It's never too soon to think about where you need to be money wise, in order to retire.

How much do you THINK you need in the bank to retire?

My own goal is to have about 1.5m stashed away, on the prediction that the wife and I can live on about 60-80k a year during retirement.

house will be paid for, kids on their own, the only thing we need money for is to pay for food and vacations and health care.

However, my projections show I need to make 10% on my 401k over the next 20 years (I want to retire when I'm 58, if not sooner), and/or increase my amount of savings by another 2k a month in order to reach that goal.

basically, I have a very very good chance of hitting that goal, given the amount of time I have to do it in.

If I would have been able to start putting money back sooner, I could retire sooner as well. Just something for you guys just starting out to consider.

[Ripcurl]

3.5 mil. no less.

35 years from now , anything less means i didnt plan properly.

Bro, get a roth IRA and speed up that savings.

[La0s3]

3.5 mil. no less.

35 years from now , anything less means i didnt plan properly.

Bro, get a roth IRA and speed up that savings.

How old are you? I should have started this shit when i was 18.

[Ripcurl]

27

[VTi EG6]

I need to start putting away money!!

[Michael]

15million.

Enough to comfortably live off the interest.

[Pr3Lud3PLaYa]

i'm not sure. I'm going to try to get as much as possible for my retirement but not go to crazy about it it b/c then I wouldn't be able to enjoy the present.

[Scr4ppY]

then I wouldn't be able to enjoy the present.

What you said is exactly how i feel about some things. I have a 401k, but i was thinking about settuping up a roth IRA. I plan on retiring at the LATEST 60.

[grnlude97]

Probably 10-15 million but then again who knows how much or how little it will be worth in 35 years?!

Daniel :)

[tit$]

i wouldn't want a bunch of cash laying around in a bank, my goal is to have several income producing properties and manage them through retirement.

if i can cash flow about $50k a month i'd be satisfied...

[PIYF]

To be alive at that age.

[La0s3]

27

how old were you when you started saving for that 3.5 mill?

[Ripcurl]

I started my 401K at 25.

Dad had a IRA started for me when I was 2 - it is up to ~300K right now. Dad was putting in roughly 200 a month for the last 25 years.

That will continue until I retire, not including the 401k.

Was I getting called out? or were you just curious? because 3.5 mil was at the least acceptable.

If plans go right it should be ~6 mil.

-g

[axio]

I don't want cash.