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Fellas I am less than 200k and no way near what you guys have achieved. So Hats off to you guys
I think most people are stating their retirement goals, not necessarily what their current retirement savings. So, don’t worry - keep saving and you will be well on your way to financial security
5M by 45
Since 23. I always save around 30% of my paycheck
If you put in the full amount and assume 5% yoy growth, you’ll be at about $2M assuming you have nothing in there right now. Add in an employer contribution and you could be up near $2.5 or $3.
$5M by 55 primarily through entrepreneurship
I’m rooting for you
$4.5M by 55 plus another $2M+ for my wife (lower income).
Am 36, temporarily but 1.5 a few weeks ago. Obviously not there anymore. Goal is 10M by 54 (last kid through college). That’s combined/dual income.
I am 45 and at 3.3M . And now with corona I am hesitant to look
Around 24
35, and i can only realistically have 2M
Gotcha.
What are you at now OP? I’m 30 and at 200k
Right now I’m behind the eight ball. I’m at just under 40k, but I plan to max out on my 401k after business school and investment all of my VA disability money into a S&P 500 index fund. That would give me 33 years to save. With that strategy, I think I can realistically hit 3.5M.
For those saying an age younger than 59, what are your plans to fund life between that age and 59?
I’m glad you’ll be comfortable eating Spaghetti-Os in a trailer park in your 80s, but I’m in the “Nine 0’s or bust” club.