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October 2019 retirement goal progress

October 31st, 2019 at 03:44 pm

Goal: $776,700 by March 2024

Current retirement balance: $506,160 (yay, we passed the half-million mark!)

September 2019 balance: $496,098

Progress since last update: $10,062

Still needed: $270,450

The new interim goal is based on 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

It will shift anytime our salary/annual income changes.

There are 53 months to go before March 2024, so that means we need to gain $5105 per month on average to meet our goal.

The ultimate goal we're working toward is 8x our annual income by the time we retire at 65.

Posted in Uncategorized | 7 Comments »

7 Responses to “October 2019 retirement goal progress”

  1. Petunia 100 Says:
    October 31st, 2019 at 05:24 pm 1572542655
    1572542655

    Congrats on reaching that 500k milestone!

  2. Dido Says:
    October 31st, 2019 at 06:30 pm 1572546601
    1572546601

    Congrats on the half mill milestone!

  3. LivingAlmostLarge Says:
    October 31st, 2019 at 07:17 pm 1572549454
    1572549454

    congrats!

  4. terri77 Says:
    October 31st, 2019 at 10:51 pm 1572562284
    1572562284

    Is the $5,205 monthly gain doable or are you adjusting your goals? Congrats on joining the half-million club!

  5. ceejay74 Says:
    November 1st, 2019 at 02:30 am 1572575453
    1572575453

    Terri, it's really variable. This month we gained $10K but when the markets go down, sometimes we lose value or stay stagnant. So it's hard for me to really gauge.

    We put away between $2500 and $3000 per month on average, so some of it depends on market gains.

  6. ceejay74 Says:
    November 1st, 2019 at 02:32 am 1572575561
    1572575561

    Thanks everyone! I forgot to factor in NT's raise which takes effect in tomorrow's payday, so the goal will get a bit more ambitious (ie harder to reach But that's a good problem to have!

  7. rob62521 Says:
    November 3rd, 2019 at 08:03 pm 1572811425
    1572811425

    Way to go on reaching $500K! Yay!

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