I have been putting $5,500 into my Vanguard Roth IRA since I was 18.
Target Date 2050/2055 refund.
According to my calculations, I am on track to have $1.5M+ by retirement with just average returns over such a period.
Say if I start withdrawing $50,000 per year at age 60 and my funds are still with Vanguard say earning 7%, what could go wrong? $101,500 per year in income, $50k coming out due to withdrawal.
$1.5M minus $50k = $1.45M 7% of $1.45M = $101,500 Year end = $1,551,500
Rinse and repeat.
Pair this with social security and I should be sitting pretty no? This seems to good to be true. Especially when I begin maxing my 401k.
As my income increases, I will begin contributing to a 401K. I am far ahead of the curve as is from what I have seen.
Submitted October 21, 2017 at 11:50AM by l0b0t0mize http://ift.tt/2zqYOM5
