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November 2019 retirement goal update: Ceejay74's Personal Finance Blog
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November 2019 retirement goal update

December 3rd, 2019 at 04:04 pm

Goal: $776,700 by March 2024

Current retirement balance: $517,266

October 2019 balance: $506,160

Progress since last update: $11,106

Still needed: $259,434

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 52 months to go before March 2024, so that means we need to gain $4989 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.

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