I am 43, wife is 39. Have 2 kids, age 5 and 2.
We have reached $1M in our combined 401k and Roth accounts (i.e. retirement specific funds). Another $500k+ in non-retirement funds.
According to Monte Carlo analysis, if we never contributed another cent to the retirement fund, we could have anywhere from $1.5M to $5M (in real dollars) in these funds in 20 years in a 75/25 portfolio (current mix).
We contribute the max to 401k each year (and plan to continue to do so) and with the company match this comes out about to $69k contributed each year.
I guess my question is - should something happen and for whatever reason we had to stop contributing as much to retirement, it almost seems like we've front-loaded enough that we should still be "ok" in retirement. So in some respect I can "rest easy".
Is this thinking correct or am I still "behind" where I should be?
We have reached $1M in our combined 401k and Roth accounts (i.e. retirement specific funds). Another $500k+ in non-retirement funds.
According to Monte Carlo analysis, if we never contributed another cent to the retirement fund, we could have anywhere from $1.5M to $5M (in real dollars) in these funds in 20 years in a 75/25 portfolio (current mix).
We contribute the max to 401k each year (and plan to continue to do so) and with the company match this comes out about to $69k contributed each year.
I guess my question is - should something happen and for whatever reason we had to stop contributing as much to retirement, it almost seems like we've front-loaded enough that we should still be "ok" in retirement. So in some respect I can "rest easy".
Is this thinking correct or am I still "behind" where I should be?
Statistics: Posted by justsomeguy2018 — Fri Jan 24, 2025 5:22 pm — Replies 4 — Views 307