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Target # Goal for Age Gates(30,40,50,60)
Posted on 10/26/23 at 10:19 am
Posted on 10/26/23 at 10:19 am
Just curious what the board’s opinion/goals for 40, 50, 60, etc are?
I know what all the articles/online calculators recommend but I think this board has a higher IQ and loftier goals than who those articles are aimed at.
I’m 39, rapidly approaching 40 and surpassed my 40 goal about a year ago. I am trying to calibrate whether to adjust my 50 goal or increase my spending the next decade.
I know what all the articles/online calculators recommend but I think this board has a higher IQ and loftier goals than who those articles are aimed at.
I’m 39, rapidly approaching 40 and surpassed my 40 goal about a year ago. I am trying to calibrate whether to adjust my 50 goal or increase my spending the next decade.
This post was edited on 10/26/23 at 10:21 am
6
Posted on 10/26/23 at 10:26 am to hottub
Think it all depends on your expenses. My goal is $3.3m at any age - with my mortgage paid off - and currently on track for 52. Unfortunately, still have to figure medical and my kids won't be off the payroll yet. Luckily I have a business I can start laying back in at that point rather than running hard anymore. So kinda "retired". Very individual specific though so tough to answer a question like this.
Posted on 10/26/23 at 10:43 am to hottub
quote:
Target #
What metric are you asking about?
Retirement assets?
Assets in market?
Gross assets?
Net assets?
Or are you trying to hit a specific income stream using 4%?
Are you adjusting for inflation? Or is your present value already taking that into account?
Posted on 10/27/23 at 6:12 am to hottub
I'm at ~3m at 35. My 40 year goal is 5m and 50 year would be 15 to 20m. I live pretty frugally other than house/car, so don't need a high spend for retirement. I'd like to get my real estate investments generating enough income where we can buy 2-3 properties a year and I don't have to invest income from my other businesses
Posted on 10/27/23 at 11:29 am to hottub
My goal is to get out of debt and live off SS - enjoy a cup of coffee each morning with a biscuit and egg over easy. A nice ham sandwich for lunch with a side salad. And a ham dinner with a couple sides, a glass of wine and a miller lite.
I’ll watch lsu baseball in the spring and travel up north during the heat of summer.
I shoulda gone national guard, lsu, lsu law. Instead, debt, women and whiskey messed up my twenties for sure.
I’ll watch lsu baseball in the spring and travel up north during the heat of summer.
I shoulda gone national guard, lsu, lsu law. Instead, debt, women and whiskey messed up my twenties for sure.
Posted on 10/27/23 at 11:37 am to hottub
quote:
I am trying to calibrate whether to adjust my 50 goal or increase my spending the next decade.
If you feel comfortable with where you are, and believe you are missing out on certain parts of life increasing your spending is not a bad option. But I would not spend just for the sake of spending.
I think these past few years have been a slap in the face of reality between market dips, government overreach, and inflation. So, while you may be reaching those goals now, are you still reaching them if you factor hits like we have seen in the market and inflation these past few years?
Posted on 10/27/23 at 12:10 pm to hottub
My goal is to run for congress at 60. I'll be able to make a couple mill there in 5 years.
Posted on 10/27/23 at 12:11 pm to Weekend Warrior79
My goal is to work my arse off until the day I die. My dad saved. 90 cents of every dollar he made when we were growing up. Never had anything, no vacations, etc. He retired and my mom got pancreatic cancer six months later. She lived another six months. Now he has money, but no one to share it with. Sure, he plays golf everyday, but that would get boring AF quickly. Luckily, I have my own business and enjoy what I do. I don't have a lot of debt, but my kids college is paid, and we like to enjoy ourselves with vacations and nice things.
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