Retirement Savings -- Countup

[Randomsaver]

Enjoying the current stability.

Savings to Retire at 55 to be used for Age 56-60
Balance: $ 72K
End-Goal by 55: $100K (that means a living budget of $20K/year for age 56, 57, 58, 59 and 60)
Retirement Condo $400K: Fully Paid (No Renting expense!)

At 61, saved rent income will cover it; at age 62, it is SS onwards
401K Retirement Savings: $ 318K
IRA Retirement Savings: $ 67K
Total Retirement Savings: $ 385K (It's a long way back to this top but I wanna Rock N Roll)


My Forecasted Monthly Retirement Check Amounts, if to retire starting 2026 (actual withdrawal can only start in Jul of 2031):
401 : $ 1.64K
IRA : $ 0.32K
SS : $ 1.54K
Tot : $ 3.50K
Goal: $4.00K
The mood is sell some of overpurchase to DCA as market goes up.

[Randomsaver]

Enjoying the current stability.

Savings to Retire at 55 to be used for Age 56-60
Balance: $ 76K
End-Goal by 55: $100K (that means a living budget of $20K/year for age 56, 57, 58, 59 and 60)
Retirement Condo $400K: Fully Paid (No Renting expense!)

At 61, saved rent income will cover it; at age 62, it is SS onwards
401K Retirement Savings: $ 320K
IRA Retirement Savings: $ 68K
Total Retirement Savings: $ 388K (It's a long way back to the top but I wanna Rock N Roll)


My Forecasted Monthly Retirement Check Amounts, if to retire starting 2026 (actual withdrawal can only start in Jul of 2031):
401 : $ 1.37K
IRA : $ 0.27K
SS : $ 1.61K
Tot : $ 3.25K
Goal: $4.00K
The mood is sell some of overpurchase to DCA as market goes up.

[LivingAlmostLarge]

Randomsaver how close are you to 55?

[Randomsaver]

^ 3 years to 55.5.

[james.hendrickson]

All - basically still working on my immediate goal of 100k

Here are the current balances:

TSP: $4,780.26
SEP IRA: $27,335.97
ROTH IRA: $25,307.53
Taxable Brokerage: $5,662.71
Total: $ 63,086.47

About 13k better than the last time I posted. The one thing I'll say is consistent effort works if you're building your retirement funds.

[LivingAlmostLarge]

^ 3 years to 55.5.

I noted you had in October 15-2024 you had $38k in our pre-retirement savings. You now have $76k. That's more than 2x in less than 1 year. Your shovel has got to be very large? That's not just returns. How did you do it? That's an average of $4750 savings/returns per month. $38k change in 8 months.

[Randomsaver]

Hmm interesting. I had to track it myself.

Jul 2024 - 25K
Aug 2024 - 28K (I try to save 2K a month; the benefit of saving otherwise was mortgage payment )
Sep 2024 - 31K
Oct 2024 - 38K
Nov 2024 - 42K
Dec 2024 - 55K (I save a separate account for helping my parents for their medical needs about $12K a year, started in 2018. I decided to have the balance at $48K and put the surplus here)
Jan 2025 - 56K
Feb 2025 - 60K
Mar 2025 - 60K (the balance is actually less but just kept the post at 60K as it's a count up; I took advantage converting bonds into stocks
Apr 2025 - 60K (market's actually gone terrible, also got the bonus and invested it at the lows that time)
May 2025 - 72K (market started to rise back and along with it, the adds from Feb-May plus the bonus in Apr)
Jun 2025 - 76K (market back to high. I took a peep at the account and its says 78K)

[Randomsaver]

All - basically still working on my immediate goal of 100k

Here are the current balances:

TSP: $4,780.26
SEP IRA: $27,335.97
ROTH IRA: $25,307.53
Taxable Brokerage: $5,662.71
Total: $ 63,086.47

About 13k better than the last time I posted. The one thing I'll say is consistent effort works if you're building your retirement funds.

Great progress! 13K growth is awesome! Congrats!

[Randomsaver]

Enjoying the current stability.

Savings to Retire at 56 to be used for Age 56-61
Balance: $ 78K
End-Goal by 56: $120K (that means a living budget of $20K/year for age 56, 57, 58, 59, 60 and 61)
Retirement Condo $400K: Fully Paid (No Renting expense!)

At age 62, it is SS onwards
401K Retirement Savings: $327K
IRA Retirement Savings: $ 70K
Total Retirement Savings: $397K (It's a long way back to the top but I wanna Rock N Roll)


My Forecasted Monthly Retirement Check Amounts, if to retire starting 2026 (actual withdrawal can only start in Jul of 2031):
401 : $ 1.39K
IRA : $ 0.28K
SS : $ 1.61K
Tot : $ 3.28K
Goal: $4.00K
The mood is to get to 60:40 as market goes up.

[james.hendrickson]

I'd post a comprehensive response back...but my stocks are down right now...

[disneysteve]

I'd post a comprehensive response back...but my stocks are down right now...

Interesting because ours are getting close to their all time highs.

[Randomsaver]

July the 4th be with you!


Enjoying the current stability.

Savings to Retire at 56 to be used for Age 56-61
Balance: $ 82K
End-Goal by 56: $120K (that means a living budget of $20K/year for age 56, 57, 58, 59, 60 and 61)
Retirement Condo $400K: Fully Paid (No Renting expense!)

At age 62, it is SS onwards
401K Retirement Savings: $337K
IRA Retirement Savings: $ 73K
Total Retirement Savings: $410K (It's a long way back to the top but I wanna Rock N Roll)

My Forecasted Monthly Retirement Check Amounts, if to retire starting 2026 (actual withdrawal can only start in Jul of 2031):
401 : $ 1.44K
IRA : $ 0.30K
SS : $ 1.61K
Tot : $ 3.35K
Goal: $ 4.00K
The mood is to get to 60:40 as market goes up.

[LivingAlmostLarge]

July the 4th be with you!


Enjoying the current stability.

Savings to Retire at 56 to be used for Age 56-61
Balance: $ 82K
End-Goal by 56: $120K (that means a living budget of $20K/year for age 56, 57, 58, 59, 60 and 61)
Retirement Condo $400K: Fully Paid (No Renting expense!)

At age 62, it is SS onwards
401K Retirement Savings: $337K
IRA Retirement Savings: $ 73K
Total Retirement Savings: $410K (It's a long way back to the top but I wanna Rock N Roll)

My Forecasted Monthly Retirement Check Amounts, if to retire starting 2026 (actual withdrawal can only start in Jul of 2031):
401 : $ 1.44K
IRA : $ 0.30K
SS : $ 1.61K
Tot : $ 3.35K
Goal: $ 4.00K
The mood is to get to 60:40 as market goes up.

Will you work and save until 56 no matter what? So if you save more than $120k will you increase your budget?

[james.hendrickson]

And here is my update:

Here are the current balances:

TSP: $4,969.00
SEP IRA: $31,618.46
ROTH IRA: $26,154.95
Taxable Brokerage: $6,337.02
Total: $69,079.43

Better than last time I posted.

Also - just wanted to point out that I've been somewhat cash constrained in the last few years - kids will do that - and have mostly only been able to move smaller amounts of money - like $15 of $20. That said, even small amounts of money add up, especially when you can get them into a good investing vehicle like a solid growth stock or an index fund.

[Randomsaver]

Will you work and save until 56 no matter what? So if you save more than $120k will you increase your budget?

No, I will file my resignation and move to my retirement condo and start my era of happiness.