Are you on track for retirement?

HungLikeJesus · 12-07-2007, 03:16 PM

I just received an e-mail from the Motley Fool in which they said that you shouldn't draw more than 4% of your retirement savings each year.

If, for example, you need $100,000 per year to live as you're accustomed, you would need to have $100,000/0.04 = $2.5 million invested at retirement time.

For your particular circumstances, are you on track to have the money that you need when it comes time to retire? Or, looked at another way, at your current savings rate, how old will you be when you can comfortably retire?

There are, of course, a lot of variables in this equation (how long will you live, how will your investments do between now and then, your employment situation, unexpected expenses, etc.), but do you feel comfortable with your retirement savings situation?

We had, at one time, planned to retire at 50. Every year that goal is moving farther back.

View Poll Results: Are you financially ready for retirement?
I'm already retired and living in luxury	0	0%
I'm already retired and living under the freeway	2	13.33%
I'm ready to retire any day	0	0%
I'll be ready to retire when I'm 65	3	20.00%
I'll be ready to retire when I'm dead	9	60.00%
I love working and would never want to retire	1	6.67%
Voters: 15. You may not vote on this poll

12-07-2007, 03:16 PM	#1
HungLikeJesus Only looks like a disaster tourist Join Date: Feb 2007 Location: above 7,000 feet Posts: 7,208	Are you on track for retirement? I just received an e-mail from the Motley Fool in which they said that you shouldn't draw more than 4% of your retirement savings each year. If, for example, you need $100,000 per year to live as you're accustomed, you would need to have $100,000/0.04 = $2.5 million invested at retirement time. For your particular circumstances, are you on track to have the money that you need when it comes time to retire? Or, looked at another way, at your current savings rate, how old will you be when you can comfortably retire? There are, of course, a lot of variables in this equation (how long will you live, how will your investments do between now and then, your employment situation, unexpected expenses, etc.), but do you feel comfortable with your retirement savings situation? We had, at one time, planned to retire at 50. Every year that goal is moving farther back. __________________ Keep Your Bodies Off My Lawn SteveDallas's Random Thread Picker.

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