UnThreaded | Threaded | Whole Thread (11) | Ignore Thread Prev | Next
Author: Hohum77 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75794  
Subject: Re: When can I retire? Date: 10/6/2007 12:32 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
In order to get to that number by 60 years old you would need to invest $50,866 per year assuming a 10% rate of return (it goes up to $52,884 if you earn 9%). To retire at 65 you would need to invest $37,349 per year assuming 10%.

Note that the above calculations do account for your current balances, but ignore the 62,000 in savings.


Really- where did you account for the 185K sitting in his existing retirement account?

Quick calculation I do at 10% return till age 65 shows that 185K becomes a nest-egg of $2+ Million.


To the OP: I think you are doing very well, but I think you continue to contribute to your retirement vehicles. Why? For a number of reasons, but mostly because I wouldn't count on staying 100% in equity investments through age 65, which thus reduces the possibility of the above $2M based on existing balance.

Other factors to think about-
- Number of years in retirement
- Your health and health care costs
- Inflation
- Tax rate (when you retire)

Hohum
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (11) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement