Savings milestone today.

[JohnDoe]

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]

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

 

[NinjaPigeon]

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]

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]

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

That's excellent work. Well done!

 

[W2R]

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

 

[megacorp-firee]

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

 

[HFWR]

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

 

[bright eyed]

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

today?

 

[In-control]

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]

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]

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]

Can you explain this to a newbe?

It's the 4% rule.

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

 

[Milton]

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]

Congratulations John Doe. Compounding is a beautiful thing!

 

[JohnDoe]

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

 

[ziggy29]

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]

I'm in the 300k twice club also!

DD

 

[FIREd]

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]

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.

 

[d]

I always was so excited when I hit the milestones(100,000- 200,000 etc),

of course it's always a bit less exciting when you hit them the 2nd, or 3rd time

 

[Bestwifeever]

At least you hit it again on the way up--



Congrats again.

 

[aaronc879]

The first 100K seems to be taking forever. Hopefully by this time next year i'll reach 100K so I reach it before I turn 30.

 

[retire@40]

...and they say money doesn't buy happiness.

 

[theHundt]

Doubling your egg in two years is awesome. My goal is to double every five years with contributions + organic growth.