golfnut
Full time employment: Posting here.
Been lurking on this forum for quite some time. Originaaly put the following message in HI I am section:
Personals - 51 yrs old, married with one kid (13 yrs old). Hoping to retire in 7 or 8 yrs.
Retirement made up as follows:
401 (approx. 50%) - contribute about 17% of gross salary plus 6% company match
Trad IRIs (approx. 25%)
Roth IRAs (2%) - plan to fully contribute for both me and my wife
Taxable (23%)
60/20/20 Equity/bonds and cash - Mostly Vanguard funds and mostly active.
My company offers a pension but it is not colad (Pension is projected to be worth $10,000 per year when I am 55 and $20,000 when I am 62.
Have 529 plan thru state of Nevada (Vanguard) with a healthy balance (should pay for 4 yrs of in state (Illinois) public university. Presently 529 is 25% equities and 75% bonds (all index funds and I realize a very conservative mix but I figure it will be only only 4 1/2 years before junior starts college). I figure it should grow about 5% per year and we contribute $250 per month.
I have learned alot reading the messages on this forum. Admittedly, I am reluctant to provide $ figures of our retirement fund. Should I be concerned??
My company offers a pension but it is not colad (Pension is projected to be worth $10,000 per year when I am 55 and $20,000 when I am 62.
Presently we live comfortably on $6,600 take home a month.
Just wonder how much we would need in a nest egg when I am 55 given I should be able to draw about $10,000 per yr from my pension.
My guess would be $1.8mm.
What do you think??
Golfnut
Personals - 51 yrs old, married with one kid (13 yrs old). Hoping to retire in 7 or 8 yrs.
Retirement made up as follows:
401 (approx. 50%) - contribute about 17% of gross salary plus 6% company match
Trad IRIs (approx. 25%)
Roth IRAs (2%) - plan to fully contribute for both me and my wife
Taxable (23%)
60/20/20 Equity/bonds and cash - Mostly Vanguard funds and mostly active.
My company offers a pension but it is not colad (Pension is projected to be worth $10,000 per year when I am 55 and $20,000 when I am 62.
Have 529 plan thru state of Nevada (Vanguard) with a healthy balance (should pay for 4 yrs of in state (Illinois) public university. Presently 529 is 25% equities and 75% bonds (all index funds and I realize a very conservative mix but I figure it will be only only 4 1/2 years before junior starts college). I figure it should grow about 5% per year and we contribute $250 per month.
I have learned alot reading the messages on this forum. Admittedly, I am reluctant to provide $ figures of our retirement fund. Should I be concerned??
My company offers a pension but it is not colad (Pension is projected to be worth $10,000 per year when I am 55 and $20,000 when I am 62.
Presently we live comfortably on $6,600 take home a month.
Just wonder how much we would need in a nest egg when I am 55 given I should be able to draw about $10,000 per yr from my pension.
My guess would be $1.8mm.
What do you think??
Golfnut