Savings milestone today.

JohnDoe · 10-29-2007, 05:18 PM

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.

Callie · 10-29-2007, 05:24 PM

Congratulations! How much do you plan to save before retiring?

NinjaPigeon · 10-29-2007, 05:32 PM

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!

JohnDoe · 10-29-2007, 05:44 PM

Quote:

Originally Posted by Callie

Congratulations! How much do you plan to save before retiring?

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.

Milton · 10-29-2007, 06:45 PM

Quote:

Originally Posted by JohnDoe

That's a 50% increase in 2 years since we got our act together.

That's excellent work. Well done!

**Want2retire** · 10-30-2007, 05:50 AM

Wonderful! And the bigger your nestegg gets, the faster it seems to grow.

megacorp-firee · 10-30-2007, 10:37 AM

Congrats. GREAT JOB! You'll be there in no time at this rate.

HFWR · 10-30-2007, 12:08 PM

I've passed $400k three times already...

bright eyed · 10-30-2007, 12:33 PM

Quote:

Originally Posted by HFWR

I've passed $400k three times already...

today?

In-control · 10-31-2007, 07:48 AM

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.

Maurice · 10-31-2007, 07:57 AM

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.

Can you explain this to a newbe?

audreyh1 · 10-31-2007, 08:07 AM

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

REWahoo · 10-31-2007, 08:08 AM

Quote:

Originally Posted by Maurice

Can you explain this to a newbe?

It's the 4% rule.

[Edit] Audrey is faster on the draw...

Milton · 10-31-2007, 09:35 AM

Quote:

Originally Posted by In-control

I consider my 401k $ as a big bonus in 15 years. I am 45 now.

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'.

walkinwood · 10-31-2007, 12:54 PM

Congratulations John Doe. Compounding is a beautiful thing!

JohnDoe · 05-06-2008, 02:58 PM

Ok. I had to go dig this thread up. 300k for the 2nd time.

ziggy29 · 05-06-2008, 03:22 PM

Quote:

Originally Posted by JohnDoe

Ok. I had to go dig this thread up. 300k for the 2nd time.

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.

DblDoc · 05-06-2008, 03:43 PM

I'm in the 300k twice club also!

DD

FIREdreamer · 05-06-2008, 04:21 PM

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.

Donzo · 05-06-2008, 04:47 PM

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.

10-29-2007, 05:18 PM	#1
JohnDoe Recycles dryer sheets Join Date: Dec 2006 Posts: 245	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.

10-30-2007, 05:50 AM	#6
Want2retire Moderator Join Date: Jan 2007 Location: New Orleans Posts: 4,286	Wonderful! And the bigger your nestegg gets, the faster it seems to grow. __________________ Dreaming of retirement....

10-30-2007, 10:37 AM	#7
megacorp-firee Thinks s/he gets paid by the post Join Date: Apr 2007 Posts: 1,062	Congrats. GREAT JOB! You'll be there in no time at this rate. __________________ Life is GREAT!

10-30-2007, 12:08 PM	#8
HFWR Thinks s/he gets paid by the post Join Date: May 2005 Location: DFW Posts: 4,784	I've passed $400k three times already... __________________ Have Funds, Will Retire Somewhere between 5 years and infinity from FIRE...

10-31-2007, 07:48 AM	#10
In-control Dryer sheet aficionado Join Date: Mar 2007 Posts: 47	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. __________________ In-Control and Happy about it!

10-29-2007, 05:24 PM	#2
Callie Recycles dryer sheets Join Date: Jul 2006 Posts: 88	Congratulations! How much do you plan to save before retiring?

10-29-2007, 05:32 PM	#3
NinjaPigeon Recycles dryer sheets Join Date: Jan 2006 Posts: 324	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!

10-31-2007, 08:07 AM	#12
audreyh1 Thinks s/he gets paid by the post Join Date: Jan 2006 Posts: 1,780	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

10-31-2007, 12:54 PM	#15
walkinwood Recycles dryer sheets Join Date: Jul 2006 Location: Near Newark, NJ Posts: 218	Congratulations John Doe. Compounding is a beautiful thing!

05-06-2008, 02:58 PM	#16
JohnDoe Recycles dryer sheets Join Date: Dec 2006 Posts: 245	Ok. I had to go dig this thread up. 300k for the 2nd time.

05-06-2008, 03:43 PM	#18
DblDoc Recycles dryer sheets Join Date: Aug 2007 Posts: 340	I'm in the 300k twice club also! DD

05-06-2008, 04:21 PM	#19
FIREdreamer Full time employment: Posting here. Join Date: May 2007 Posts: 869	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. __________________ "Solitary trees, if they grow at all, grow strong" - Winston Churchill

05-06-2008, 04:47 PM	#20
Donzo Recycles dryer sheets Join Date: Apr 2006 Posts: 459	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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