veritasophia
Recycles dryer sheets
- Joined
- Apr 12, 2006
- Messages
- 84
Well, I graduated in December and I received a job offer from a local actuarial consulting firm. Here are the stats for my wife and I:
Initially, we will be able to save around 2,500 a month in non-retirement + max out our 401k accounts. According to my calculations, which include raises, we will reach 1M in our non-retirement in 13 years assuming 8% return. At that time, our retirement account should be close to 1M as well (960k according to my calculations).
If we decide to RE in 13 years and exhaust the non-retirement funds 25 years after retirment, I get a monthly withdrawal rate of about 5,250 (assuming 4% growth after inflation). Then we start on the retirement funds which would have grown to 7M (assuming 8%), and live off of the interest and dividends.
Does this seem like a good plan?
- Non-retirement accounts: ~96k
- Retirement: ~21k
- Student loans: ~5k
Initially, we will be able to save around 2,500 a month in non-retirement + max out our 401k accounts. According to my calculations, which include raises, we will reach 1M in our non-retirement in 13 years assuming 8% return. At that time, our retirement account should be close to 1M as well (960k according to my calculations).
If we decide to RE in 13 years and exhaust the non-retirement funds 25 years after retirment, I get a monthly withdrawal rate of about 5,250 (assuming 4% growth after inflation). Then we start on the retirement funds which would have grown to 7M (assuming 8%), and live off of the interest and dividends.
Does this seem like a good plan?