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Old 02-07-2013, 09:20 PM   #21
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Originally Posted by mark3rs View Post
Some background:

Married (SAM) - 2 children (3 and 6)
Annual Income - $150,000
Yearly Savings - $45,000 to 401k (including employer contribution)
Desired retirement income - $100,000 (in todays dollars)

With 2 young kids and being able to put $45k away, how much is your actual spend now? And do you life relatively comfortably?

If yes, $100k is plenty. Will current savings rate give you that much ? What about College for the kids?

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Old 02-08-2013, 01:34 AM   #22
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obgyn65's Avatar
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
My case also. The OP may wish to look at the spending side of the equation..
Originally Posted by gardenfun View Post
The eye-opener for me that led to early retirement was realizing I didn't have to follow the "you need 80% of your current income in retirement". Rather, you need to figure out what your willing to live on in retirement--what expenses you will have.

Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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