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Hi Guys, I am 5.5 years Java Developer and I have offer from JPMorgan Chase and Walmart .
Jpmc: 50% on current fixed + jpmc benefits Walmrat: 50% on current fixed + yearly bonus + stocks.
Please help me choose which will be better, mainly looking for brand value, work life balance and yearly hikes.
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I'm working as DGM and have strong expertise in transition and transformation , program and portfolio management. I have 21+yrs experience and looking for suitable role/ opportunity in Noida, Delhi or NCR location. Can someone please help with referrals or opportunities ?Tata Consultancy Infosys Amazon India Capgemini Cognizant
How is Accenture Research vs EY vs PwC vs KPMG
Does kpmg sponsor KPMG
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Finish strong tomorrow. #Bankerproblems
Hey what's ur number
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Without knowing the ins and outs of your investments and lifestyle it's difficult to say whether you have enough to retire. There are lots of communities (search for FIRE - Financial Independence, Retire Early) that have a lot of insight into what's needed based on individual circumstances. Obviously be wary of sharing too much specific information and of retirement scams. What I would say is 54 doesn't seem too early if you've been maxing retirement savings and no longer have housing costs. It's important to make sure lots of planning and analysis is done before making any decision, factoring in the quality of life/spending you expect to maintain and essentials like healthcare
Thanks a lot! I had no clue about FIRE. Will look it up.
Hi there, I’m a financial advisor and I have certainly worked with clients who have retired early. Here are some common themes.
-Low expenses/paid off mortgages and vehicles (sounds like you’ve got this covered)
-some level of passive income that covers a majority of monthly expenses. (could be rental income, pension, annuity, etc.)
-enough taxable (non-retirement) assets to withdraw without penalty until 59.5 or
-An 401k or 403b that allows for rule of 55. not all of them allow this but there are alternatives that are a bit more strict. look up 72(t) or SEPP.
-one factor that most people overlook is healthcare costs before medicare kicks in at 65. healthcare costs in the marketplace can be 3 to 5 times more expensive the employer sponsored plans unless you get a very basic plan that doesn’t cover much and has high out of pocket costs. If you’re healthy, keep in mind things change. My dad retired at 60. He eats well and exercises regularly but found out he has cancer. His inexpensive marketplace insurance was more of a harm than a help and healthcare costs went through the roof.
There are many factors as you can see. I’d recommend speaking with an advisor who wont charge for the consultation just to get another perspective based on more details of your personal situation.
Without seeing real numbers, you could be closer to retirement than you think though! Best of luck!
Broad brush answer: divide your annual pretax costs by 0.04... that's roughly the amount of money you should have in your accounts. If around there, you can start doing more careful planning and can always adjust as you go
Typically the 4% rule would apply to retirement at 65ish, assuming needing income for 30 years. Obviously your pre-tax costs could be the same retiring at age 30 or 70, but the former would (hopefully) require a bigger balance as you'd be living longer after stopping contributions. It might be a bit too 'broad brush' when considering early retirement as it doesn't factor in the time variable. Dividing by 0.04 is still relevant for someone in their 50s, but the risk of running out of money is higher and generally you'd be wanting more than this to minimise this risk
My mantra: if you like the job, the compny and they've done right by you, like not screwing you over, and like the work, the co workers and a non toxic boss, stay until you're ready for something else. On the other hand if something better comes along that pays more or gives you more of what you want bail. Retiring early without a plan can be disasterous. If in good health and with a good financial security but you like the job and things are good, ride it out , why get bored having nothing to do in retirement.
So many things to factor in. They always say to hope for the best and plan for the worst. I will be turning 59 and my financial advisor said my portfolio is at 99%. and confirmed I can retire now, which is great but I always worry. Not to mention should you need in-home care later in life it could run you like 30K a month minimum now in today’s world.
No problem at all. I would recommend a financial advisor. Perhaps you know somebody that might refer you to when you can trust or find one perhaps via yelp or Google that has high ratings. Ensure they are a fiduciary, which means they are legally obligated to act in your best interest, and charges fee-only, not commission based. ChatGPT can assist you greatly in preparing questions in prep for your meeting based on your current situation and needs.