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Hi, Washington State Movie Fan Here
Old 11-08-2010, 04:56 PM   #1
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Hi, Washington State Movie Fan Here

Hello group!

I'm 30 years old, and have been saving furiously since my early 20's. My company matches 6% and gives an additional 4% of yearly salary for profit sharing. I contribute 15% to my 401K and max out a Roth IRA. i have double my yearly gross salary in my 401K. Is that on target? On top of that before I decided to buy a house I was investing in stocks as well. Now that I have the house I will have to struggle for the next two years until my car is paid off (I should have bought a cheaper car, but i thought the 2010 Jetta TDI would last longer with a diesel engine). Once that is finished, i'll free up an additional 800/month to save toward a better emergency fund. (Per Suze Orman)!

I'd like to either retire when I'm 50 or switch to a job that i'd just have for medical insurance purposes and work part time. Do a lot of you have that idea as well? I'm really curious to hear your thoughts.
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Old 11-08-2010, 05:09 PM   #2
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Hello group!
What is a Washington State movie?
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Old 11-08-2010, 05:14 PM   #3
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I phrased that in a confusing way.

what i meant to say was "I am from washington state, and I am a fan of movies".
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Old 11-08-2010, 05:16 PM   #4
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What does 'FIRE' stand for?
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Old 11-08-2010, 05:18 PM   #5
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What does 'FIRE' stand for?
You'll find the answer here: * Acronyms and Slang Frequently Used on the Forum *
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Old 11-08-2010, 06:16 PM   #6
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Welcome.

I think most part-time jobs do not come with medical insurance. I know there are some that do though. I cut back my hours at work, so that it is effectively part-time, but I was able to negotiate that I kept my health insurance. Another possibility is to marry someone who works and provides health insurance for the family.

You also have 20 years to go, so maybe there will be national health insurance by that point in time.
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Old 11-08-2010, 11:27 PM   #7
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What is a Washington State movie?
Sleepless in Seattle?
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Old 11-09-2010, 12:19 AM   #8
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Sleepless in Seattle?
A good one, but a bit romantic. My favorites are 1) The Fabulous Baker Boys with Jeff Bridges, Beau Bridges, and Michelle Pfeiffer -great downtown scenery in this one; and 2) Five Easy Pieces, a 1970 movie with Jack Nicholson and Karen Black. It isn't really a Seattle movie, but there was important footage from San Juans- as I remember, Friday Harbor on San Juan Island.

Karen Black could sure make my motor run back in the day, but she never achieved big-time stardom I guess. Intelligent woman too.

Ha
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Old 11-17-2010, 09:34 AM   #9
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When i retire at 50, and assuming health insurance is in a similar state....how much do people budget for health insurance per month?
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Old 11-17-2010, 09:57 AM   #10
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I'm still trying to figure out why there are several members by the name of John Galt.

Hmmm...maybe it's just me...
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Old 11-17-2010, 09:59 AM   #11
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I'm still trying to figure out why there are several members by the name of John Galt.

Hmmm...maybe it's just me...
Makes you wonder, Who is John Galt?
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Old 11-17-2010, 10:01 AM   #12
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Makes you wonder, Who is John Galt?
Apparently a ghost someone that does not want to be forgotten...
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Old 11-17-2010, 10:03 AM   #13
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I can't speak for others, but I always make my name in forums to be characters from my favorite books. In some i'm Kilgore Trout, others John Galt or Hank Rearden
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Old 11-17-2010, 10:06 AM   #14
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When i retire at 50, and assuming health insurance is in a similar state....how much do people budget for health insurance per month?
Use ehealthinsurance.com to see current rates. That's got to be the toughest one to budget for.
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Old 11-17-2010, 10:35 AM   #15
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Hello group!

I'm 30 years old, and have been saving furiously since my early 20's. My company matches 6% and gives an additional 4% of yearly salary for profit sharing. I contribute 15% to my 401K and max out a Roth IRA. i have double my yearly gross salary in my 401K. Is that on target? (snip)
I recently read a book called Your Money Ratios. It tells you how much you should save, and how much to have saved up, as a multiple of your salary. There's a thread about it here, and I see from Amazon.com that it's coming out in paperback next month. I don't know if the content has been updated or not. I would like to have seen an appendix for how to adjust the ratios for retiring earlier or with a different percentage of total earnings than the book assumes. But it will give you a ballpark idea of where you are. There are some links to other estimators in that thread, too.

Quote:
I'd like to either retire when I'm 50 or switch to a job that i'd just have for medical insurance purposes and work part time. Do a lot of you have that idea as well? I'm really curious to hear your thoughts.
Here's a recent thread about doing just that.

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When i retire at 50, and assuming health insurance is in a similar state....how much do people budget for health insurance per month?
Since you are still 20 years away from retirement I doubt it's possible to know with any certainty what health insurance will cost when you retire. So much could change during that time! About the only thing I can suggest is to find out how much you would have to pay if you retired now, and then add 20 years of inflation. I don't know what rate to use, though. I always hear health care goes up much faster than inflation in general, but I have no idea how much faster.
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Old 11-22-2010, 09:16 AM   #16
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Another issue I have is this: I have a thought that being a CPA and starting my own business would be a great way to semi retire some day and not feel choked by work. The problem is i need a year experience under a CPA to finish my license, and my current job can't provide that. I hesitate leaving after 9 years..anyone else have that experience ? Your views and experience is so great to read about...I am fascinated with this forum, and many times forget to post because of that.
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