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10-29-2007, 05:18 PM
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#1
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Recycles dryer sheets
Join Date: Dec 2006
Posts: 479
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Savings milestone today.
We just passed 300k in retirement savings for the 1st time. That's a 50% increase in 2 years since we got our act together. Aren't there boards wonderful?
Hoping to retire in 12 more years.
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10-29-2007, 05:24 PM
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#2
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Recycles dryer sheets
Join Date: Jul 2006
Posts: 91
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Congratulations! How much do you plan to save before retiring?
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10-29-2007, 05:32 PM
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#3
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Recycles dryer sheets
Join Date: Jan 2006
Posts: 331
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Nice! Hope to join you in the 300k in a few years  And yes, these boards have really helped me. Thanks to all of you who contribute!
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10-29-2007, 05:44 PM
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#4
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Recycles dryer sheets
Join Date: Dec 2006
Posts: 479
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 Quote:
Originally Posted by Callie
Congratulations! How much do you plan to save before retiring?
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Thanks. The range I'm looking for is 1.3 to 1.7 million.
I'm just now starting to accumulate savings in an after-tax brokerage account.
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10-29-2007, 06:45 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Apr 2007
Posts: 2,360
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Quote:
Originally Posted by JohnDoe
That's a 50% increase in 2 years since we got our act together.
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That's excellent work. Well done!
__________________
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
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10-30-2007, 05:50 AM
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#6
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,498
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Wonderful! And the bigger your nestegg gets, the faster it seems to grow. 
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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10-30-2007, 10:37 AM
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#7
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Thinks s/he gets paid by the post
Join Date: Apr 2007
Posts: 1,305
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Congrats. GREAT JOB! You'll be there in no time at this rate.
__________________
Life is GREAT!
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10-30-2007, 12:08 PM
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#8
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 14,183
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I've passed $400k three times already... 
__________________
Have Funds, Will Retire
...not doing anything of true substance...
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10-30-2007, 12:33 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Jan 2007
Posts: 1,891
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today? 
__________________
If i think of something clever to say, i'll put it here...
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10-31-2007, 07:48 AM
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#10
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Recycles dryer sheets
Join Date: Mar 2007
Posts: 319
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Great job. I am FI and have used the $200-250k = $10k spending ratio to establish my savings goal. I have this in a taxable account, VG index + Wellington funds. I consider my 401k $ as a big bonus in 15 years. I am 45 now.
Having the saving and asset allocation goal made all of the difference. Keep up the good work.
__________________
Just Trekking thru!
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10-31-2007, 07:57 AM
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#11
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Full time employment: Posting here.
Join Date: Oct 2007
Location: New York
Posts: 898
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Quote:
Originally Posted by In-control
Great job. I am FI and have used the $200-250k = $10k spending ratio to establish my savings goal.
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Can you explain this to a newbe?
__________________
Money's just something you need in case you don't die tomorrow.
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10-31-2007, 08:07 AM
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#12
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,139
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The 4% withdrawal rate implies that you retire with 25x your annual expenses. Therefore, 250K in the bank means 10K per year retirement income. You can think of it that way - for every 250K you save (or your nest egg appreciates), means another 10K per year retirement income available.
Audrey
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10-31-2007, 08:08 AM
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#13
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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Quote:
Originally Posted by Maurice
Can you explain this to a newbe?
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It's the 4% rule.
[Edit] Audrey is faster on the draw...
__________________
Numbers is hard
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10-31-2007, 09:35 AM
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#14
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Thinks s/he gets paid by the post
Join Date: Apr 2007
Posts: 2,360
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Quote:
Originally Posted by In-control
I consider my 401k $ as a big bonus in 15 years. I am 45 now.
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I agree. While I fully fund my registered investment opportunities, for retirement planning purposes I essentially ignore that money and focus on the income that my non-registered portfolio can generate (currently it is all re-invested, natch).
Such 'mental accounting' is perhaps rather silly, but it causes me to adopt a more conservative approach and builds in another layer of 'insurance'.
__________________
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
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10-31-2007, 12:54 PM
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#15
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Thinks s/he gets paid by the post
Join Date: Jul 2006
Location: Denver
Posts: 3,518
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Congratulations John Doe. Compounding is a beautiful thing!
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05-06-2008, 02:58 PM
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#16
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Recycles dryer sheets
Join Date: Dec 2006
Posts: 479
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Ok. I had to go dig this thread up. 300k for the 2nd time.
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05-06-2008, 03:22 PM
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#17
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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LOL. I recently did the same thing at the 500K mark. Dropped below it around last December, rose above it again a couple weeks ago.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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05-06-2008, 03:43 PM
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#18
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Thinks s/he gets paid by the post
Join Date: Aug 2007
Posts: 1,224
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I'm in the 300k twice club also!
DD
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05-06-2008, 04:21 PM
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#19
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Moderator Emeritus
Join Date: May 2007
Posts: 12,901
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Just passed the $340K mark today (for the first time) after testing again the 300K milestone during the stock market pull back in January. Also a 50% increase from May 2006.
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05-06-2008, 04:47 PM
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#20
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Full time employment: Posting here.
Join Date: Apr 2006
Posts: 944
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Congrats on the 300,000 .. again! And as a bonus - you were putting cash in while the market was low - when we get back to 14,000 DOW you will be a happy camper!
I always was so excited when I hit the milestones(100,000- 200,000 etc), it was very motivating.
__________________
Freed at 49. You only live once - live it
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