{ "media_type": "text", "post_content": "Anyone else nervous about the future and not being able to retire at a reasonable age. How do you determine how much you need for retirement? Late 30s family inc. is $200k planning on kids as well", "post_id": "5d15210f7e6e46001f0b383a", "reply_count": 42, "vote_count": 3, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Anyone else nervous about the future and not being able to retire at a reasonable age. How do you determine how much you need for retirement? Late 30s family inc. is $200k planning on kids as well

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Some seriously just do it because they want to. I work with a guy who is retired from the Air Force, then retired from govt service at NASA, and comes in every day doing what he likes, but knows he has his "f you" money in case he ever wants to bounce.

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Let's hope that's the case

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Yeah, that's kinda low for this profession at that age. Your lifestyle will take a hit.

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I see men at work old enough to be my grandpa slouched over their laptops and wonder what went wrong in their retirement planning. I realize I'm quick to judge but stilll..

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That sounds like my personal hell.

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Context : late 30's, no kids yet but we have a mortgage. The mortgage, her existence and my existence in this country is dependent upon extension of my h1b. Due to present rules, I won't get my green card for a good 15-20 years more. I live from extension to extension. I have spent more time in this country than my own country... And dude... Here you're worried about... Retirement? 😏

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If it's any consolation I went through the same thing. Waited in the GC line for 16 painful years. I can almost guess your country of origin :) missed out on a lot of opportunities for career mobility so we could play it safe. That cost me promotions and salary increases . Security around retirement does not go away regardless of your GC status. They are mutually exclusive problems.

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Very general rule of thumb: have 1x salary saved by 30, 3x by 40, 6x by 50, 10x by retirement age (67 commonly used to calculate).

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Thank you BAH3 this is helpful.

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The key thing missing here is how much you have saved at your age. None of the other stats matter without that

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Yea, that’s not bad. Stop sweating your situation

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Definitely. I worry about my parents being able to afford to retire and having to support them too.

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I’m 31 with $5M and I still worry about retirement. Moral of the story: definitely plan, but understand you will always find something to worry about. It’s all relative.

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Yes, yes it is...I grew up comfortable but it’s often eye opening.

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Are you a man?

Yea, that’s a pretty relevant question

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200k is low for someone in their late 30s at Booz Allen?

No problem. At the end of the day, I think we all have the same issues and concerns. People love to go on social media and talk about how great their lives are, but we are all dealing with the same shit. Best of luck. You're at least thinking about these things. Too many people don't, then wind up becoming a burden on their families or society as a whole.

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(Not at Booz Allen by the way. I moved companies recently. Same industry )

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