I was in my early 20's (circa 2001) when I realized I'd need about $2million to retire comfortably. I think I was simply doing the 25years of retirement = 4% withdrawal math. Turns out my forecast on inflation wasn't too far off. I now expect $1.8M will give me all the money I'd ever need.
At what point did you think the $1 million milestone was possible?
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gauss
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Age 25. After starting first full time engineering job and taking educational financial planning course offered by employer. DW (DGF at the time) and I were both making way more than we were spending.
By doing some first-order analysis in a spreadsheet I could see that by investing our excess earnings in no-load mutual funds, we might be on the way to 10M before retirement (well this was just after the 80s so that didn't exactly happen).
Best employee benefit I ever received was taking that class at a young age.
-gauss
By doing some first-order analysis in a spreadsheet I could see that by investing our excess earnings in no-load mutual funds, we might be on the way to 10M before retirement (well this was just after the 80s so that didn't exactly happen).
Best employee benefit I ever received was taking that class at a young age.
-gauss
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