| Retirement: | | $0-250,000 | | 0% | [ 0 ] | | $250,000-$499,999 | | 0% | [ 0 ] | | $500,000-$749,999 | | 100% | [ 1 ] | | $750,000-$999,999 | | 0% | [ 0 ] | | $1,000,000-$1,499,999 | | 0% | [ 0 ] | | $1,500,000-$1,999,999 | | 0% | [ 0 ] | | $2,000,000+ | | 0% | [ 0 ] |
| | Total Votes : 1 | | |
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mmg2681
Moderator
  
Age : 27
Joined : 13 Oct 2006
Posts : 679
Localisation : Newton Falls, OH
|  Subject: Retirement:  Sat 08 Mar 2008, 6:05 am | |
| How much do you think you need in the bank/401k to be able to retire comfortably?
_________________
"It is not how much money you make - it is how you spend it." |
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mmg2681
Moderator
Age : 27
Joined : 13 Oct 2006
Posts : 679
Localisation : Newton Falls, OH
| | Subject: Re: Retirement: Sat 08 Mar 2008, 6:13 am | |
| I think about this all of the time, because I am always thinking of the day that I dont have to go to my typical 9-5. I cant wait for the day that I decide what I want to do with my time.
I have computed it inside and out, up and down, and I am still firmly set on $500,000 is what Todd and I would need. We could live off of the interest alone providing we have everything including our house paid off.
Everyone always says, "What about health insurance?"
I have looked into this as well.
Between the high-deductible health insurance, or working part time for a company like UPS (where I'd get my exercise AND get health insurace for working part time in the mornings) that offers health insurance, I think we'd be fine. Even if one of us gets a job with insurance to pay the premiums and have us covered, I think we'd be good.
I also always get the : "You are so young, do you think that would last?"
Frugality, Frugality, Frugality. No one understands that I look at every penny that I spend, and Todd is pretty good at it too! I think we could be even MORE frugal if we know we could quit our jobs and enjoy life - wouldnt you watch what you spend, and make even better choices?
~M
_________________
"It is not how much money you make - it is how you spend it." |
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Vicki
Administrator
 
Age : 40
Joined : 12 Oct 2006
Posts : 2654
Localisation : Chesapeake Beach, Maryland
| | Subject: Re: Retirement: Sat 08 Mar 2008, 8:11 am | |
| I will have to think about this one. In my family no one has ever money in the bank for retirement. Everyone has just made do with social security or their retirement checks. My mom's husband is retiring in3 years and they have no money saved. They plan on living off his retirement check, social security and the $40,000.00 they get from us when we purchase this house.
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Vicki |
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