What is your number? (1 Viewer)

[fantasycurse42]

Anyone ever see the Prudential advertisements asking what your number is in regards to retirement? 

Do you have a number and plan? What is your number? 

Where do you want to retire (realistically) using this map?

Poll is private and nobody will see your name attached to your vote. The number is just curiosity, not really for the discussion, just wondering if you have a plan and where it takes you.

 

[Cold Dead Hands]

I have a State Pension. So technically my number is infinity. Realistically my number will likely one day evaporate.

 

[fantasycurse42]

Personally I'd like to keep my residence in NYC while also having a second residence in either South Florida or a Caribbean Island when retired. NYC in the warmer months, and somewhere tropical during the winter.

 

[fantasycurse42]

I have a State Pension. So technically my number is infinity. Realistically my number will likely one day evaporate.

Are you using any savings tools like a 401k or IRA beyond your pension?

 

[ZenMaster]

My wife and I have a plan. It started 4 years ago as a 10-year plan and we're about a year ahead of schedule. I'm 41, she's 45. No kids.

We have a target number for 'savings' - defined as investment accounts, cash - anything that's liquid and accessible within a week. That's the number that allows us to quit our current jobs. We may choose to work part time but based on our current budgeting we won't have to. We've been conservative with our budgeting so we are comfortable with our plan.

We need that amount of money to last us to retirement age. At that point we expect to have 2x the original number in our retirement accounts,  not including anything that might be there from Social Security. 

Putting our plan together 4 years ago was a big step. It really helped us focus on what we wanted to do and how we were going to get there.

We're moving to Lake Tahoe (Nevada side). According to the map, that's in the West.

 

[Ditkaless Wonders]

I have but one number, life expectancy.  Retirement is not a realistic option for me. For my wife I currently have 2 million.  She is likely to be on this earth for some decades.  I will push her number higher before my number comes up.

 

[Cold Dead Hands]

Are you using any savings tools like a 401k or IRA beyond your pension?

I have a 401K, but we are a 1 income household. If the pension ever goes away, so does my hope of retirement. I don't stress about it, as I will likely be dead before I have to worry about it.

 

[fantasycurse42]

My wife and I have a plan. It started 4 years ago as a 10-year plan and we're about a year ahead of schedule. I'm 41, she's 45. No kids.

We have a target number for 'savings' - defined as investment accounts, cash - anything that's liquid and accessible within a week. That's the number that allows us to quit our current jobs. We may choose to work part time but based on our current budgeting we won't have to. We've been conservative with our budgeting so we are comfortable with our plan.

We need that amount of money to last us to retirement age. At that point we expect to have 2x the original number in our retirement accounts,  not including anything that might be there from Social Security. 

Putting our plan together 4 years ago was a big step. It HAVING NO KIDS really helped us focus on what we wanted to do and how we were going to get there.

You guys should have no issues getting well ahead of the game.

 

[pecorino]

If we retire with a home in the northeast and can be snowbirds in our home in the southeast, then a little less than one million will suffice. Barring medical issues, probably retiring at 67ish, especially if those two houses are mostly paid for. Between Social Security and a 4% draw down off 800K, say, we'll have plenty of disposable income assuming rents are near zero. We are about twenty years out.

 

[msudaisy26]

Our number is between 750k and 1 million. That is our number because that is the minimum we expect to have when we both retire. We both have Roth IRA's, I have a 401k at work, he has an annuity, and pension, our house will be paid off and hopefully worth a lot more than what we paid for it. I hope to have a pension soon, but not yet. Put outside of the US to retire because we don't have an idea where we want to retire yet, in the last 8 years we have almost moves 3 hours across the state, to Colorado, and to Indiana for work. If I had to guess we will retire to the south, my husband already has bad allergies and heart problems run on his dad's side of the family and every male on that side of the family except his dad has moved south due to health reasons or died early except his dad (he is still young at 57 though). I will probably retire around the age of 60, my husband will retire at 57 or earlier.

 

[Brony]

You know how I can tell this board is getting old...

 

[Scoresman]

36

 

[Gally]

$10 mil.......invest conservatively for 3% return and live off $300K per year without touching the principle.....Done!

 

[Bucky86]

MOOOAAARRRR