Thank you so much in advance, sorry for the length. Just wanted to fully explain my situation. I've followed this sub for a while and you always seem to give great advice.
Some background: Financial: I'm a young professional expecting to make 65-85k/yr for the next 4 years, then I expect to get a certification that will increase earnings substantially (150-220k, average 170k) or so. No guarantee the salary would stay that high (could go higher or lower), but certainly 140k minimum. I'd expect about 70k in debt for the cert. I have no other debt, and no current debt. 10k in a 401k, 15k in an investment fund that I will unfortunately have to eat some of for personal reasons. I currently have no interest in having kids.
Personal: I watched my grandma and grandpa save every damn penny till they retired early at 58. They grew incredibly wealthy. Then grandma got sick as hell within the year, spent 5 years in the hospital, and died. I have the same disease she had (chronic, I'll have no symptoms till 50 hopefully, and I hopefully won't have it near as bad as her, may live without symptoms into my 60s). So I have no interest in going frugal. There is a fair chance I will be bed bound/needing frequent outpatient hospital treatment by my late 50s. Travel is my favorite thing in the world, so when these treatments start I may never be able to do so again. So I travel now when I can.
So, my question, is there any decent approximation for a % of income to save (starting at my age, 25, with what I already have in a 401k) so that when I retire I can expect to draw my salary's worth from start of my retirement until my death, statistically as late as 85, but likely sooner? Or is market fluctuation just flat out too unpredictable to even bother? In that case, does anyone have any general advice on what a fair contribution to retirement would be? Again, I don't want to be frugal, but I don't want to hit 60 without a penny in savings in my pocket. I just want to find a safe, baseline % to contribute so that I know whatever else is left I can use to enjoy life now.
Again, thank you all for your time.
Submitted September 03, 2017 at 03:02PM by BigbooTho http://ift.tt/2vCSyU8
