Retirement Savings -- Countup

[Scallywag]

This is what that looks like after I pay taxes and penalties ($1.3M)



Kindof cool and sad at the same time.

Still a goodly pile! Congratulations, corn!

[LivingAlmostLarge]

We're back over $1m in retirement accounts.

[Randomsaver]

Jul 2020

401 Retirement Savings: $ 161K
IRA Retirement Savings $ 12K
Non-Retirement Savings: $ 182K
College Savings: $ 25K

[Randomsaver]

August was mostly a washout based on the past 3 day's turnaround.

Sep 2020

401 Retirement Savings: $ 175K
IRA Retirement Savings $ 14K
Non-Retirement Savings: $ 182K
College Savings: $ 28K

[Randomsaver]

Nov 2020

401K Retirement Savings: $ 185K
IRA Retirement Savings $ 16K
Non-Retirement Savings: $ 192K
College Savings: $ 32K

[Fishindude77]

Due to recent favorable market conditions, we've got more $$ in out IRA than when we rolled it out of the 401k when I retired three years ago.
Plus we've been pulling $4k per month from it the entire time.

[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

[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.

[Randomsaver]

Feb 2021

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

[Randomsaver]

Feb 2021

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

[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.

[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?

[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]

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.

[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?