Goal: $784,772 by March 2024
Current retirement balance: $542,038
December 2019 balance: $541,036
Progress since last update: $1,002
Still needed: $242,734
This 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 50 months to go before March 2024, so that means we need to gain $4855 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.
January 2020 retirement goal update
February 1st, 2020 at 05:21 am
February 1st, 2020 at 10:36 am 1580553398
February 1st, 2020 at 07:48 pm 1580586513