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Retirement goal progress

April 30th, 2017 at 08:17 pm

Goal: $494,743 by 2019

(As a reminder, this is just an incremental goal along the way to 8x income by retirement. This mini-goal aims to get us to a milestone by the time I turn 45 and AS turns 40.

The milestone (which changes whenever our salaries change) is to get me to 3x my current salary, which is now $68,291, so $204,873; NT to 3x his, which is now $62,100, so $186,300; and AS to 2x hers, which in 2016 was $51,785, so $103,570)

Current balance: $324,735

March 2017 balance: $317,920

Progress: $6,815

A nice bump up, but our goal also grew because of my raise.

To reach the goal by our birthdays in 2019, that's 22 months, so we'd need to contribute (or have assets appreciate) $170,008 -- $7,728 per month -- to reach it.

2 Responses to “Retirement goal progress”

  1. LivingAlmostLarge Says:

    Good luck. Sounds like a good goal. Is it 2x salary by age 40?

  2. ceejay74 Says:

    Yes, AS will be 40 in 2019, I'll be 45 and NT will be 46 (but I'm calculating his and mine according to my birthday to make it easier). So 2x AS's salary by the time she turns 40 and 3x my and NT's salary by the time I turn 45.

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