Saving for the gap between now and 60
Running projections using a calculator provided by my company 401k folks, I see that even if I quit contributing in one year, assuming a conservative 5% rate of return, my 401k will have just shy of $1m when I turn 60. Assuming a 4% draw-down + social security, I'm doing alright there.
For now I will continue contributing just enough to get my company match and focus the rest of my saving for the early retirement period (the next 25 years before I turn 60).
How do I calculate how much I'd need to retire today? 5 years from now? I'm assuming $25k in annual expenses (yay frugality) but would prefer $40k. What if I wanted $60k?
I would like to start planning for my ER, and determine whether I glide down or go full-stop, and when ...
Online calculators or excel formulas would help me out a lot.