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Huge delays in biometrics
Hi All,
I've an overall 9+ years of experience predominantly into training & development and project management. I worked in ecommerce and supplychain industries. Please let me if there's any suitable opening. I'm about to finish my notice period and ready join by 1st week of July.Amazon Tata Consultancy IBM Newco
Additional Posts in FIRE Financial Independence Retire Early
Decided to payoff my mortgage.
Anyone else into Bank Bonus churning?
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Some missing info. Primarily, what do you expect your annual spending to be in retirement? How many years left on your mortgage and at what rate?
Exactly - just figure out your “number” and back into how much you need to save. I wouldn’t view your house as a retirement lever unless you’re planning to generate income from itZ
Subject Expert
If we assume you are in Colorado and are single with no dependents and will max your 401k with traditional contributions, and that your bonus averages $90k and your income will be steady from now, and that you will get a steady 5% real return and use a 2.7% WR (plus extra for tax), and that we will not factor in social security but will assume that your 401k and taxable account are retirement assets and your home equity and emergency fund are not, and if we assume you will want to spend the same amount in retirement as now, and if we assume your house payoff will not impact your expenses...
...then your post tax income is $211k per year, and if you spend $110k per year and save the remaining $101k per year, you would attain your needed FI number of $4.1 million right at age 53.
With all of these assumptions this projection can be done with a pretty simple spreadsheet.
All of these assumptions are uncertain. If you help us clarify them we can help refine this.
How much do you spend and save per year now?
How did you arrive at the timeline of age 53?
25x expenses minimum, reverse math it