Hi,
I am a healthy 58 year old male, single, no children. I plan to retire in 9 years at 67. Salary is 70K.
I have ZERO debt with the exception of a small mortgage balance of 38K and home worth $187,000. Credit score of 810.
I have a 403(b) with TIAA currently valued at $535,000 and a ROTH IRA with T Rowe Price valued at $127,000. I max out my ROTH every year at $7000 and contribute 22% of my salary to my 403(b). I am currently contributing 33% of my salary toward retirement.
CURRENT RETIRMENT SAVINGS - $662,000
My allocation is 60% equities, 40% fixed.
I have a 18 month emergency fund in Ally Bank.
Am I on tracking for a fairly comfortable retirement, assuming 25 years in retirement and living a modest lifestyle?
Thanks
Michael in NJ
I am a healthy 58 year old male, single, no children. I plan to retire in 9 years at 67. Salary is 70K.
I have ZERO debt with the exception of a small mortgage balance of 38K and home worth $187,000. Credit score of 810.
I have a 403(b) with TIAA currently valued at $535,000 and a ROTH IRA with T Rowe Price valued at $127,000. I max out my ROTH every year at $7000 and contribute 22% of my salary to my 403(b). I am currently contributing 33% of my salary toward retirement.
CURRENT RETIRMENT SAVINGS - $662,000
My allocation is 60% equities, 40% fixed.
I have a 18 month emergency fund in Ally Bank.
Am I on tracking for a fairly comfortable retirement, assuming 25 years in retirement and living a modest lifestyle?
Thanks
Michael in NJ
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