Nice to see more realistic people on this forum for once. I love this place and it has helped me a lot in planning, but y'all are crazy sometimes.
I am a fairly frugal person. Outside of housing (now paid off) and car (ditto), I have lived on $30k/year (in 2024 dollars) pretty much my whole adult life. All my earnings above that have gone to savings, and then retirement once I got a job with a 401k.
I started 'late' with investments, at age 31, and am now 45.
Current Portfolio: $700k
401k: $320k (TD 2045)
Roth: $160k (TD 2050)
Brokerage: $100k (VTSAX)
Bonds: $100k (I/EE)
HYSA: $20k
I have an inflation adjusted pension (VA) that I just got this year:
$13k/year
My healthcare is now fully taken care of starting this year (VA) with a small dental supplement.
I am *sorely* tempted to call it quits right now.
SS at age 70 if I do: $36k +$13k pension = $49k with practically zero taxes and no debt.
4% withdraw rate ($28k +$13k = $41k) covers my current lifestyle with room for emergencies and fun and since I 'only' have a 25 year timeline FiCalc and CFireSim put me at nearly 100% success.
5% withdraw rate ($35k +$13k = $48k) has a roughly 80% success rate based on history/monte carlo for my timeframe.
I am fairly confident at roughly $50k a year in today's dollars the rest of my life, which should cover everything I can think of and some cushion on top. More would be nice for fancy stuff and 'just in case', but by no means do I *need* a million dollars. At this point I am just coasting and doing home improvement projects/upgrades and padding the numbers to try and get my withdrawal rate to match my eventual SS withdrawal at a higher rate of success. I don't hate my job right now and only a few more years will get me to the second 'bend point' in SS so might as well.
I am a fairly frugal person. Outside of housing (now paid off) and car (ditto), I have lived on $30k/year (in 2024 dollars) pretty much my whole adult life. All my earnings above that have gone to savings, and then retirement once I got a job with a 401k.
I started 'late' with investments, at age 31, and am now 45.
Current Portfolio: $700k
401k: $320k (TD 2045)
Roth: $160k (TD 2050)
Brokerage: $100k (VTSAX)
Bonds: $100k (I/EE)
HYSA: $20k
I have an inflation adjusted pension (VA) that I just got this year:
$13k/year
My healthcare is now fully taken care of starting this year (VA) with a small dental supplement.
I am *sorely* tempted to call it quits right now.
SS at age 70 if I do: $36k +$13k pension = $49k with practically zero taxes and no debt.
4% withdraw rate ($28k +$13k = $41k) covers my current lifestyle with room for emergencies and fun and since I 'only' have a 25 year timeline FiCalc and CFireSim put me at nearly 100% success.
5% withdraw rate ($35k +$13k = $48k) has a roughly 80% success rate based on history/monte carlo for my timeframe.
I am fairly confident at roughly $50k a year in today's dollars the rest of my life, which should cover everything I can think of and some cushion on top. More would be nice for fancy stuff and 'just in case', but by no means do I *need* a million dollars. At this point I am just coasting and doing home improvement projects/upgrades and padding the numbers to try and get my withdrawal rate to match my eventual SS withdrawal at a higher rate of success. I don't hate my job right now and only a few more years will get me to the second 'bend point' in SS so might as well.
Statistics: Posted by honigvod — Sun Oct 13, 2024 10:26 pm