Hey Bogleheads...
I have been doing more projections based off needs/wants in retirement. Im 32 so have about 33 years to go. Im hoping to have 20% down payment in order to buy a house that Ill eventually own in 30 years time. Also was projecting what I would need/want and provide a small cushion for emergencies.
I used to think I would be okay with 2k a month before social security at 65.
Now I think I need closer to 3,000-$3500 a month to supplement social security and then inflation adjust that figure between now and retirement. Also not sure of future taxation laws outside of spectulating.
My question regarding SWR is I was told 4% would for the most part cover 30 yrs. Do market valuaton influence w/d rate as if PE ratio is high may look to have 3.5% SWR.
I feel if my savings can cover me for 25 years til Im 90 that would be sufficent. Id probably be lucky to see 80 but God willing I need to be sure my wife will be covered after I left.
How much $$ are you saving each year for retirement? Right now Im splitting it up between saving for house downpayment and retirement. Once I get a home Im hoping to add alittle more to retirement to beef this up. I have to stretch my 60k income.
And even if I hit my # I love what I do and if Im healthy and can work into my 70s I would as long as I have a good work/life balance but I would like to plan as if I may be unable to work past 65.
Thank you ahead of time for reading this and providing input/comments.
I have been doing more projections based off needs/wants in retirement. Im 32 so have about 33 years to go. Im hoping to have 20% down payment in order to buy a house that Ill eventually own in 30 years time. Also was projecting what I would need/want and provide a small cushion for emergencies.
I used to think I would be okay with 2k a month before social security at 65.
Now I think I need closer to 3,000-$3500 a month to supplement social security and then inflation adjust that figure between now and retirement. Also not sure of future taxation laws outside of spectulating.
My question regarding SWR is I was told 4% would for the most part cover 30 yrs. Do market valuaton influence w/d rate as if PE ratio is high may look to have 3.5% SWR.
I feel if my savings can cover me for 25 years til Im 90 that would be sufficent. Id probably be lucky to see 80 but God willing I need to be sure my wife will be covered after I left.
How much $$ are you saving each year for retirement? Right now Im splitting it up between saving for house downpayment and retirement. Once I get a home Im hoping to add alittle more to retirement to beef this up. I have to stretch my 60k income.
And even if I hit my # I love what I do and if Im healthy and can work into my 70s I would as long as I have a good work/life balance but I would like to plan as if I may be unable to work past 65.
Thank you ahead of time for reading this and providing input/comments.
Statistics: Posted by naturewalker420 — Fri Sep 06, 2024 10:45 am — Replies 3 — Views 293