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Retirement Discussions / Retirement
|Subject: How much is enough?||Date: 7/14/2000 11:18 AM|
|Author: bether||Number: 41 of 294|
Warning: long post.
I posted this on my Rule Maker Seminar board, but thought it Foolish to get this board's comments as well...
I hear a lot of the emphasis on saving for retirement (which does need to be a priority), but once I know I'm okay with the amount I have in investments (401(k), Roth IRA, etc.) I don't want to be setting money aside for retirement at the expense of other legitimate needs. And, I guess I don't know when there is "enough" socked away for retirement.
I'm almost 30, and my husband and I have about $45k in retirement accounts of one form or another. (And he is still contributing to his current 401(k)). If we get a return of 10%, which I hope to beat, in 35 years we'll have almost half a million dollars. Even after Uncle Sam takes his share, that's still quite sufficient to live on! (And that's the minimum return I hope to get!)
So I guess my real question is, how do I know that I have enough for retirement so I can start directing some of the money that I could allocate for Roth IRA contributions, etc., toward saving for our next home, kids' college, etc.
We live below our means on my husband's sa