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April 2019 retirement goal update (4/30/19)

October 9th, 2019 at 09:46 am

Originally posted
April 30th, 2019 at 09:15 am

Goal: $776,700 by March 2024

Current retirement balance: $473,628

Still needed: $303,072

March 2019 balance: $452,766

Progress since March 2019: +$20,862

There are 59 months to go before March 2024, so that means we need assets to appreciate $5,137 per month on average to meet our goal.

Overall goal: saving 8x income by retirement (age 65)

Incremental goal explained: getting my and NT's retirement to 4x our salaries (currently $75,120 and $62,100) by the time we turn 50 and AS's retirement values to 3x her annual income ($75,940 in 2018) by the time she turns 45.
$75,120 x 4 = $300,480
$62,100 x 4 = $248,400
$75,940 x 3 = $227,820

The goal will shift anytime our salary/annual income changes.

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