Goal: $784,772 by March 2024
Current retirement balance: $541,036
November 2019 balance: $517,266
Progress since last update: $23,770
Still needed: $243,736
The new interim goal is based on getting my and NT's retirement to 4x our salaries (currently $75,120 and $64,118) 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
$64,118 x 4 = $256,472
$75,940 x 3 = $227,820
It will shift anytime our salary/annual income changes. (The only exception is I won't lower AS's if she has a lower-income year, because her income fluctuates. So I'm keeping it at the 2018 level because her 2019 income was a little less.)
There are 51 months to go before March 2024, so that means we need to gain $4779 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.
December 2019 retirement goal update
December 31st, 2019 at 03:54 pm
December 31st, 2019 at 09:14 pm 1577826871
January 7th, 2020 at 03:58 pm 1578412729