My Account
Report problem with this ad
Start a related thread
Start a related poll
Reply via Boardmail
Jan 26, 2020
5:43
:23
pm
viper
All-American
I guess the tough thing is knowing what inflation will do, 80k might not be
much in twenty five years
Start a related thread
Start a related poll
Reply via Boardmail
Report problem with this ad
viper
Bio page
viper
Joined
Dec 21, 2010
Last login
May 22, 2024
Total posts
7,139 (15 FO)
Report problem with this ad
Messages
Author
Time
I am 40, do I seriously need over 2 million saved up by retirement? Feels
viper
1/26/20 4:38pm
BM TNT.
777
1/26/20 4:39pm
He needs money please help
TNT
1/26/20 4:39pm
What happened to the $20,000 I sent him last week?
bluecougar1985
1/26/20 4:44pm
Inflation
TNT
1/26/20 4:45pm
RE: Inflation
bluecougar1985
1/26/20 4:47pm
Here on cougarboard the number I believe is around 5 mil,a lot of high rollers
franklyvulgar
1/26/20 4:40pm
You mean you don’t already have $2 million saved up?
CrimWalCoug
1/26/20 4:40pm
At a 4% withdrawal rate you’d have $80k per year to live on
PCCoug
1/26/20 4:41pm
Yep, literally just depends on what you want to live on.
BYUFootballisBack
1/26/20 5:14pm
I guess the tough thing is knowing what inflation will do, 80k might not be
viper
1/26/20 5:43pm
That’s supposed to be built into the 4% rule but you should be updating and
BYUFootballisBack
1/26/20 6:06pm
Oh, that 80k is in today's money, that is a lot
viper
1/26/20 8:50pm
Depends if you have a pension
idacoug
1/26/20 4:43pm
In thirty years, probably.
RC Vikings
1/26/20 4:43pm
I think 2 million is needed if nothing else is considered. I for one am counting
bluecougar1985
1/26/20 4:44pm
depends... is your house paid off and will you live in a place with high property/sales taxes?
HarlemCoug
1/26/20 4:45pm
4 mill
Mr. Belding
1/26/20 5:11pm
It all just depends on your lifestyle and expectations..
cougfanz
1/26/20 5:16pm
Good question. Answer is probably yes
Cougforgood
1/26/20 5:27pm
You need 4 million.
YSMACK
1/26/20 5:46pm
I’ve been working for 10 years, maxing my employer match and never putting less than 10% into a 401k. I contributed to
Mike Honcho
1/26/20 5:51pm
You should cash in the Pension if they allow it and roll that into your IRA or
VballDad
1/26/20 5:54pm
That’s what I plan to do, but there’s no lump sum payout until I either retire or resign
Mike Honcho
1/26/20 6:03pm
They don’t pay 10% tithing and got a jump 2 years earlier in the workforce
cougfanz
1/26/20 5:55pm
It’s So true!
Cougforgood
1/26/20 5:59pm
What targets are you basing this off of?
BYUFootballisBack
1/26/20 6:08pm
The ones that show your target as a function of your salary at various ages. For example:
Mike Honcho
1/26/20 7:10pm
Savings metrics that are based on income rather than expenses are kind of dumb..
BYUFootballisBack
1/26/20 7:21pm
You sound like you are well on track for a very comfortable above average
BYUFootballisBack
1/26/20 7:23pm
Also your salary should always be increasing so facing it off salary doesn't mak
Broda
1/27/20 10:20am
Sounds to me like you’re going fine... cause if you’re not I’m screwed...
Pretorian
1/26/20 6:35pm
I don’t know you NEED 2 million, but you can’t have too much
Lifi
1/26/20 6:03pm
This. I agree with this.
Idahofallsblue
1/26/20 6:52pm
No, you don’t. Unless that isn’t adjusting for inflation.
Junior Deputy
1/26/20 7:04pm
Very well said. This is how I project to see where I’m at
Cougforgood
1/26/20 8:28pm
I retired about 6 years ago with about a million and I feel like I have more
LiveY'r
1/26/20 7:10pm
Fantastic post, thanks for sharing.
Junior Deputy
1/26/20 7:14pm
Exactly this. It’s akin to a car salesman telling you that you need a different
BYUFootballisBack
1/26/20 7:27pm
FWIW, I also found that it was much easier to save over the last 10-15 years
LiveY'r
1/26/20 7:25pm
Thank you for sharing
Cougforgood
1/26/20 8:30pm
Obviously, waiting to start SS as long as you can is best for
LiveY'r
1/27/20 1:27am
Report problem with this ad
Posting on CougarBoard
In order to post, you will need to either
sign up
or
log in
.
Report problem with this ad