I keep crunching the numbers in various retirement calculators across the 'net and keep coming up short but I admit I suck at the basic math that's needed for some of this stuff.
This is where I am financially at the moment - single guy, no kids
- Income - ~$80k (I have only recently had this income. Up until about 5 yrs ago I made $35-40k a year consistently. Realistically my income probably won't go up much at this point.)
- Debt - Only my house ~$40k. No credit cards, cars, student loans, etc.... Paid all that off years ago
Retirement assets are (sadly) only about $100k in a Roth and a 401k w/employer match. I spent half of my 20s not saving at all and the other half saving little more than $100-200 a month. I'm currently saving about 15% of my income for retirement investing in index funds. Boring but it works.
Ideal perfect world I'd love to retire at 55. Every calculator I run online says that isn't remotely possible unless I save 80-90%. Fine. We all have pipe dreams. I push that back 10 years to 65 and the calculators all say I still need to save 60-70% I clearly need to up my contributions but 60-70% just isn't a reasonable number. I have no idea how to even plan at this point.
Submitted September 19, 2017 at 07:39AM by agreeingstorm9 http://ift.tt/2wDqrjx
