Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Saving for the gap between now and 60
Old 01-17-2014, 04:48 PM   #1
Dryer sheet aficionado
Join Date: Jun 2012
Posts: 41
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.

RetireAbroadAt35 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-17-2014, 04:52 PM   #2
Thinks s/he gets paid by the post
obgyn65's Avatar
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
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.
obgyn65 is offline   Reply With Quote
Old 01-17-2014, 05:45 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2013
Posts: 5,573
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.
daylatedollarshort is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


All times are GMT -6. The time now is 10:04 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.