Retirement Savings -- Countup

[Scallywag]

Sorry about the abbreviation. Yes, ER was referring to early-retirement.org. That is a great forum filled with people preparing for retirement and many who are already retired sharing their knowledge and experiences.

I’m being very conservative in my planning. I’m using 5% for stocks, 2% for bonds, and 0.5% for cash. With an allocation of 60/30/10 that gives us a blended return of 3.65%. If we can have a withdrawal rate of 4% or less, we will be set for life. SS will be on top of that.

Our plan is similar to yours. Cash at first along with income thrown off by our taxable investments for the first few years. Then moving onto the retirement plans and SS.

You don't worry about SS "drying up"?

if I were as conservative as you and assumed a 3.5% ROR over the next 15 years, we wouldn't meet our financial goals at all. If SS ceases to exist then we're 200% screwed.

[disneysteve]

Sorry about the abbreviation. Yes, ER was referring to early-retirement.org. That is a great forum filled with people preparing for retirement and many who are already retired sharing their knowledge and experiences.

I’m being very conservative in my planning. I’m using 5% for stocks, 2% for bonds, and 0.5% for cash. With an allocation of 60/30/10 that gives us a blended return of 3.65%. If we can have a withdrawal rate of 4% or less, we will be set for life. SS will be on top of that.

Our plan is similar to yours. Cash at first along with income thrown off by our taxable investments for the first few years. Then moving onto the retirement plans and SS.

[Scallywag]

There's a big thread on the ER site about how much people's portfolios have grown since they retired. For some it is by 7-figure amounts.

We all agonize about hitting our number and hoping it lasts. The reality is that as long as the market does reasonably well most years, your portfolio may well continue to grow despite your draw down. Of course, it could go the other way too, but statistically, the market is up more than it's down.

What's ER site? Early Retirement?

BTW, what rate of return are you assuming for the next 10 years, Steve? I am assuming 7% (5% after inflation) in hopes it will make us hit our retirement figure of 3M (1M + SS beginning when DH turns 70) for us to live off of from ages 65 to 85/90) and the rest 2M for our son. Between ages 65 to 70, we hope to live off of accumulated cash savings, and then begin spending from our 1M nest egg and SS.

I just feel nervous / worried about this not working out... like SS not being there etc, or we developing health complications that drain our nest egg leaving our son destitute etc or that the market will simply not return 7% as we hope / expect it to for the next 15 - 20 years.

UGH.

[disneysteve]

I wish my batch will have our own Trump-like president by the time we retire. Someone who could also double our money in 1 term.

[Randomsaver]

There's a big thread on the ER site about how much people's portfolios have grown since they retired. For some it is by 7-figure amounts.

We all agonize about hitting our number and hoping it lasts. The reality is that as long as the market does reasonably well most years, your portfolio may well continue to grow despite your draw down. Of course, it could go the other way too, but statistically, the market is up more than it's down.

I wish my batch will have our own Trump-like president by the time we retire. Someone who could also double our money in 1 term.

[Randomsaver]

Apr 2021

401K Retirement Savings: $ 116K
IRA Retirement Savings $ 27K
Non-Retirement Account Retirement Savings: $ 296K

[LivingAlmostLarge]

Got my last severance payment. Hit our goal of $2M of actual savings for retirement. All ours. No RSU's or stock options. That's all there is and has to last until we die. Scary.

Good luck! How's retirement?

[disneysteve]

The market has been good to our retirement savings. Retired three years ago, rolled 401k into an IRA and have been taking monthly draws.
Despite the draw down, the base number is up considerably over where we started for three years ago.

There's a big thread on the ER site about how much people's portfolios have grown since they retired. For some it is by 7-figure amounts.

We all agonize about hitting our number and hoping it lasts. The reality is that as long as the market does reasonably well most years, your portfolio may well continue to grow despite your draw down. Of course, it could go the other way too, but statistically, the market is up more than it's down.

[Fishindude77]

The market has been good to our retirement savings. Retired three years ago, rolled 401k into an IRA and have been taking monthly draws.
Despite the draw down, the base number is up considerably over where we started for three years ago.

[disneysteve]

Got my last severance payment. Hit our goal of $2M of actual savings for retirement. All ours. No RSU's or stock options. That's all there is and has to last until we die. Scary.

I was just thinking of you yesterday and wondering how things were.

The good news with your "number" is that it isn't all you have to work with. You've also got a nice pension. For me, our "number" will truly be all there is other than SS.

So how is retirement life so far?

[corn18]

Got my last severance payment. Hit our goal of $2M of actual savings for retirement. All ours. No RSU's or stock options. That's all there is and has to last until we die. Scary.

[Randomsaver]

Feb 2021

401K Retirement Savings: $ 103K
IRA Retirement Savings $ 21K
Non-Retirement Account Retirement Savings: $ 295K

[Randomsaver]

Feb 2021

401K Retirement Savings: $ 101K
IRA Retirement Savings $ 21K
Non-Retirement Account Retirement Savings: $ 293K

[disneysteve]

For us, that is our total liquid weath of all accounts combined, checking, savings, investing and retiring. I consider all of it "retirement". So not sure if some of you mean that or simply your IRAs or Roths, etc?

Personally, I also consider it all for retirement regardless of what type of account it is in. A lot of our "retirement" savings happens outside of designated tax-sheltered retirement vehicles because of the low limits on those sorts of accounts. 26K in a 401k is nice but we put away almost 4 times that much every year.

[Snicks]

First time I've seen this:

Nice! We are so close to that! For us, that is our total liquid weath of all accounts combined, checking, savings, investing and retiring. I consider all of it "retirement". So not sure if some of you mean that or simply your IRAs or Roths, etc? However, we are close but but I think we can hit $2 in the next couple years depending on the how the economy goes of course which honestly is quite concerning with all the money the govt has been printing and spending