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Retirement

March 30th, 2008 at 06:04 pm

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.

Posted in Uncategorized | 3 Comments »

3 Responses to “Retirement”

  1. Amber Says:
    March 30th, 2008 at 07:35 pm 1206905734
    1206905734

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

  2. Harley Says:
    March 30th, 2008 at 09:25 pm 1206912334
    1206912334

    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:
    March 31st, 2008 at 12:46 am 1206924414
    1206924414

    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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