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Originally posted by autoxer
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Getting back to your first question, 'is the retirement savings on track?'. I'm going to make some broad assumptions about return and inflation, but it is just a starting point for projecting out how much you will have when you turn 65.
Assuming you are starting with $97k (just the 401k & ira), adding 20% of your current salary ($2,250.00 each month). If you managed to get a 5% return after inflation, then after 35 years, you would end up with a portfolio over $3M. This could theoretically provide $120k per year for a 30 year retirement assuming a 4% safe withdrawal rate. It looks like you are on track based on your current goal. I think you could make a much more aggressive goal.
Assuming you are starting with $97k (just the 401k & ira), adding 20% of your current salary ($2,250.00 each month). If you managed to get a 5% return after inflation, then after 35 years, you would end up with a portfolio over $3M. This could theoretically provide $120k per year for a 30 year retirement assuming a 4% safe withdrawal rate. It looks like you are on track based on your current goal. I think you could make a much more aggressive goal.
I will keep on my current track for now, and look at that HSA again based on the advice of this forum.
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