Quote:
Originally Posted by loochy
Well, "comfortably" to me probably means something different than it means to you. I see it as no change in the lifestyle we've built. I'd like to be able to buy new cars without worry. I'd like to be able to make improvements to the house without worry. I need to plan for the possibility that I, my wife, or both of us might need a nursing home. I need to plan for insane inflation. I need to plan for the government deciding to turn around and tax my Roth contributions. I need to plan for medicare disappearing. I need to plan for social security disappearing. I also have to consider that my wife didn't invest heavily during the first 15 years of her career like I did.
It's pretty much worst case scenario contingency planning + wanting to be comfortable. I'm on track so far to have the 2 mil by age 60....but the age 40 thing like Bwillie is ready for - no way. Remember, most of us don't have pensions.
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yeah, my wife did zero investing and I sort of kept our bills/everything else afloat while we had kids at home and she was doing schooling, interning, etc. My current estimate is to get to 1.8 million by age 65 off just what I put away. Would have been great if we'd have had my wife at the same spot but it is what it is. House paid off in 7 more years and then I'll be looking at getting a rental property or two and still have 14 years until retirement. I'll plan to pay off the rentals in that time and should be able to be sitting pretty well by the time I hit retirement.