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Saving for the gap between now and 60
Old 01-17-2014, 04:48 PM   #1
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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.

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Old 01-17-2014, 04:52 PM   #2
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I would begin by using a spreadsheet to build a month by month cash flow analysis until you reach the age of 60.

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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Old 01-17-2014, 05:45 PM   #3
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I use a spreadsheet and also compare it to the retirement planner at Fidelity that has a year by year cash flow detail option to make sure I have not made any glaring math or tax errors.
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