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.
Retirement
March 30th, 2008 at 06:04 pm
March 30th, 2008 at 07:35 pm 1206905734
March 30th, 2008 at 09:25 pm 1206912334
March 31st, 2008 at 12:46 am 1206924414