I'm 25 and just started my (roth) 401k in January, should be at around 12k by the end of the year. I make 50k and company matches 100% of the first 6%.
I understand that many suggest contributing to a roth IRA, but I would like to save for marriage and a house over the next few years. Using a bankrate.com calc, with just inflation raises over 40 years and a 8% annual return, it says my projected 401k balance at retirement will be $2,238,907 at retirement.
In today's money, that is roughly $1,164,000. Withdrawing 4% per year would be about 46k. My SO who I plan to marry is in a very similar situation, but makes slightly less.
So I ask, isn't roughly 90k/year (plus whatever amount social security ends up being) in today's dollars enough to live a modest lifestyle? I would love to contribute to an IRA, but I'd like to buy a house by the time I'm 30.
Any comments are appreciated, thanks!
Submitted June 21, 2017 at 09:14AM by yawallatiworhtslp http://ift.tt/2sTm4Dh
