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Retirement

March 30th, 2008 at 11:04 am

I've been tinkering around with some 401(k) and Roth IRA calculators and determined:

Assuming a conservative 4% rate of return, I can hit my target nest egg in only 25 years ! (At age 58)

This is using:
17% contribution to 401(k) with 3% employer match
$5000/yr. Roth IRA contribution

This doesn't include any additional monthly savings or CDs.

Target nest egg = 20x to 25x current salary

I'd be interested to hear from others if this is on track.

3 Responses to “Retirement”

  1. Amber Says:

    Good luck...I have some tinkering myself to do

  2. Harley Says:

    My year on year inflation numbers example "dental insurance" increases (9.6% 2008, 6.8% 2007) make me wonder about retirement before dieing.

  3. terri77 Says:

    So what is your target nest egg? We're about the same age and have similar time horizons for our goals. I'm just not sure what that goal should be. I'd like to retire at either 57 or 60. 57 is the minimum regular retirement rate with the federal government.

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