YoungSaver
Recycles dryer sheets
- Joined
- Mar 5, 2012
- Messages
- 203
Hi everyone. I've browsed this forum for several months and decided to join after hitting a personal milestone. I finally made it to $100k in my 401(k).
I try not to check my balances too often, but on days with big swings in the markets I like to see how I fared. I track my status graphically without using numbers. So I have a graph of my 401(k) value, a graph of my investment accounts and a graph of my mortgage value. I then combine all those numbers together and have my "wealth health" graph. I enter in the values at the end of every month.
I like this website because we are all striving for the same goal and it is anonymous. My friends generally don't agree with saving money and plan to work forever. Sometimes I feel my savings is not very good, but then I read articles saying something like the average American over 50 has $75k saved up. To me that's unbelievable and actually kind of sad.
I come from a middle class upbringing. I'm a single male, never married and no kids. I live in a house. I recently refinanced to 3.375% for 15 years. Using my appraisal from last month, my house is 38% paid off.
Total savings minus mortgage is about $110k. I have about $150k in retirement accounts and have decided that's enough. I'm now trying to accumulate funds in my non-qualified account.
$400k is my current magic number, however $500k is probably more realistic. $500k * 4% = $20k annual. 40 years old is the "I'm dreaming" age, however retirement at 50 is very realistic. I eventually see myself living overseas 4-5 months out of the year and coming back to the US to work part time for 7-8 months. So ideally I need to accumulate $400k in 20 years. That's possible, but I enjoy my freedom and am not motivated to work extra hard to make it happen by age 40. The extra hard route involves a night job and a roommate.
That's me. I look forward to being a member of this website.
I try not to check my balances too often, but on days with big swings in the markets I like to see how I fared. I track my status graphically without using numbers. So I have a graph of my 401(k) value, a graph of my investment accounts and a graph of my mortgage value. I then combine all those numbers together and have my "wealth health" graph. I enter in the values at the end of every month.
I like this website because we are all striving for the same goal and it is anonymous. My friends generally don't agree with saving money and plan to work forever. Sometimes I feel my savings is not very good, but then I read articles saying something like the average American over 50 has $75k saved up. To me that's unbelievable and actually kind of sad.
I come from a middle class upbringing. I'm a single male, never married and no kids. I live in a house. I recently refinanced to 3.375% for 15 years. Using my appraisal from last month, my house is 38% paid off.
Total savings minus mortgage is about $110k. I have about $150k in retirement accounts and have decided that's enough. I'm now trying to accumulate funds in my non-qualified account.
$400k is my current magic number, however $500k is probably more realistic. $500k * 4% = $20k annual. 40 years old is the "I'm dreaming" age, however retirement at 50 is very realistic. I eventually see myself living overseas 4-5 months out of the year and coming back to the US to work part time for 7-8 months. So ideally I need to accumulate $400k in 20 years. That's possible, but I enjoy my freedom and am not motivated to work extra hard to make it happen by age 40. The extra hard route involves a night job and a roommate.
That's me. I look forward to being a member of this website.