Trumpcardz
Confused about dryer sheets
- Joined
- Jul 7, 2017
- Messages
- 7
I’m new to the forum and would like your assessment to help determine if I am on the right track to retire in 2023 at the age of 56.
Income:
Job Salary: $85,801 (2nd career – current employer)
Military Retirement: $36,972 (1st career – retired in 2006)
Investments:
Traditional 401k balance: $239,706; monthly addition including match = 1,856 ($22,281 annually)
ROTH IRA balance: $74,561; monthly addition = $541 ($6,500 annually)
My home will be paid for in 2021. I have no other debt. My health care is covered by my military retirement.
I would like my total income in 2023 to be $58,200 after I retire, my military retirement currently provides $36,972, which leaves $21,228. I will have a small pension from my 2nd career of about $10,200 a year, which leaves $11,028 that my investments will need to cover.
My current asset allocation is 100% equities, which I plan to start shifting about 2% per year into bonds starting January 2018.
I think I am on track, please let me know what you think. Any guidance and advice is much appreciated.