Finally, some progress on the retirement goal!
Goal: $814,292 by March 2024
Current retirement balance: $632,504
July 2020 balance: $565,234
Progress since last update: $67,270
Still needed: $181,788
This interim goal is based on getting my and NT's retirement to 4x my current and his last full-time salary (currently $82,500 and $64,118) by the time we turn 50 and AS's retirement values to 3x her highest annual income ($75,940 in 2018) by the time she turns 45.
$82,500 x 4 = $330,000
$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 if there's a lower-income year.)
There are 40 months to go before March 2024, so that means we need to gain $4545 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.
November 2020 retirement goal update
December 2nd, 2020 at 06:49 am
December 6th, 2020 at 07:07 pm 1607281653
December 9th, 2020 at 07:23 pm 1607541813
December 9th, 2020 at 07:55 pm 1607543709
December 9th, 2020 at 08:00 pm 1607544003