Originally posted
August 3rd, 2019 at 08:15 pm
Goal: $776,700 by March 2024
Current retirement balance: $490,425
Still needed: $286,275
June 2019 balance: $489,155
Progress since April 2019: +$1,270
There are 56 months to go before March 2024, so that means we need assets to appreciate $5,112 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.
July 2019 retirement goal update (8/3/19)
October 9th, 2019 at 05:02 pm