I'm 32 and currently have $344k in Roth IRA/IRA/401k. Looking at some investment calculators, if I don't start withdrawing until I'm 65, then at 7% rate of return I'll have $3.2M or so, and at 10% rate of return I'll have $7.9M. That's if I invest $0 more ever and just get those average annual returns. I believe the 10% is the S&P average and the 7% is adjusted for inflation. Seems like plenty of money from 65 to end of life. Of course, I'll still continue to invest in retirement accounts and hope to get at least one more year of maxing the 401k and Roth IRA (soon I may be over the Roth income limit).
I also have about $180k in brokerage. If, for example, I invested $2k per month in the brokerage (currently what I am doing in 401k + Roth essentially) then by 50 I should have about $2.1M in the brokerage and can maybe think about retiring soon after that point.
Any thoughts on this? I guess I don't foresee needing as much as I'm on track to have (hopefully, if historical return remains about 10%) if I continue maxing the retirement accounts. Is it then maybe a better strategy to invest more heavily in a brokerage account and have the option to retire earlier?
Submitted January 06, 2021 at 08:05PM by BTaxesThrow https://ift.tt/3omi5rT
