Hi -- I have no HOPE of retiring early, but this seemed like a good forum so I thought I would see if I can get some info here anyway. I'm 47 and only started saving for retirement 10 years ago. I know -- I suck. 
Long story about all that, but too late to fix it now.
I have a 403(b) through my job--5% is matched at 100%. For a while I was w/ TIAA-CREF, but when I tried to talk w/ someone there about my retirement, they basically just told me I was screwed -- I started to late, made too little $$, and would have to either work until I was 80 or work until I was 75 and die when I was 80.
Needless to say, this made me pretty depressed.
Then, a few years later, I was at a benefits fair at my job and a VALIC rep was there. He gave us some materials and I told him I was a hopeless case (per TIAA-CREF folks). He asked if he could meet w/ me to go over my stuff, to see if that was really true. So we met, and he was MUCH more hopeful than they had been. He adjusted what I was investing in (not sure of the details there) and said that if I kept increasing my contributions, it would be o.k.
That was 4 years ago. Just met w/ him again, and decided, since I'm currently contributing as much as I can to the 403B and get matched, that I would add a Roth IRA. So right now there is, between my employer and myself, $4500 a year going into the 403(b) and $1200 a year (starting next month) going into the Roth. Once I pay off a few more things, I will be able to greatly increase how much I'm putting in there.
My 403(b) currently has about $43,000 in it.
Basically, my guy ran things on his calculator, and with social security, even if I never put more in the Roth than I am now (and I WILL), I should have the 2029 (i.e, retiring in 20 years at 67) equivalent of $3000-3500 a month to live on, given that I will need it into my 90s (all the women in my family live FOR-EVER). That probably doesn't sound like much, LOL, but I really only want to be able to live as I am now -- pretty simply. I have a small farm, which will be paid off by then, so I won't have a mortgage payment.
Anyhoo . . . Basically I'm wondering if this is a good place for me to be or not. I know most of you guys want to retire early, and I know I can't do that, but maybe I can learn here anyway? Or maybe someone can suggest another place if this isn't it?
Thanks in advance.
Long story about all that, but too late to fix it now. I have a 403(b) through my job--5% is matched at 100%. For a while I was w/ TIAA-CREF, but when I tried to talk w/ someone there about my retirement, they basically just told me I was screwed -- I started to late, made too little $$, and would have to either work until I was 80 or work until I was 75 and die when I was 80.
Needless to say, this made me pretty depressed.Then, a few years later, I was at a benefits fair at my job and a VALIC rep was there. He gave us some materials and I told him I was a hopeless case (per TIAA-CREF folks). He asked if he could meet w/ me to go over my stuff, to see if that was really true. So we met, and he was MUCH more hopeful than they had been. He adjusted what I was investing in (not sure of the details there) and said that if I kept increasing my contributions, it would be o.k.
That was 4 years ago. Just met w/ him again, and decided, since I'm currently contributing as much as I can to the 403B and get matched, that I would add a Roth IRA. So right now there is, between my employer and myself, $4500 a year going into the 403(b) and $1200 a year (starting next month) going into the Roth. Once I pay off a few more things, I will be able to greatly increase how much I'm putting in there.
My 403(b) currently has about $43,000 in it.
Basically, my guy ran things on his calculator, and with social security, even if I never put more in the Roth than I am now (and I WILL), I should have the 2029 (i.e, retiring in 20 years at 67) equivalent of $3000-3500 a month to live on, given that I will need it into my 90s (all the women in my family live FOR-EVER). That probably doesn't sound like much, LOL, but I really only want to be able to live as I am now -- pretty simply. I have a small farm, which will be paid off by then, so I won't have a mortgage payment.
Anyhoo . . . Basically I'm wondering if this is a good place for me to be or not. I know most of you guys want to retire early, and I know I can't do that, but maybe I can learn here anyway? Or maybe someone can suggest another place if this isn't it?
Thanks in advance.
and learn all you can. I'm still on the learning curve myself. 
