GatherYeAcorns
Dryer sheet aficionado
- Joined
- Feb 6, 2013
- Messages
- 39
40 years old hoping to be semi-retired in 2027 and be in my PJs all day- 7 days a week by 2037. Raise your hands if these are your PR years!
As my "name" implies, I'm targeting ~2035, but hope to split around 2033 (at 59.5). 2033 is if I keep my current job (with promised pension) for the next 20 yrs.
As my "name" implies, I'm targeting ~2035, but hope to split around 2033 (at 59.5). 2033 is if I keep my current job (with promised pension) for the next 20 yrs.
I think to keep each other motivated, we should post milestones at the end of the year...and more often as achieved.
For example, I got a late start, so I reached $100K (401, Roth) last January at 38, now I'm at $145.5K (401 - 120.25K, Roth - 25.25K). In addition to maxing out my 401(k) and Roth, I also buy $50 in I Bonds every two weeks. This represents 32% of my pay (company kicks in an additional 4.5%)...not an easy feat for a single gal in SF, but I have my eyes on the prize!!!!
40 years old hoping to be semi-retired in 2027 and be in my PJs all day- 7 days a week by 2037. Raise your hands if these are your PR years!
As another young person on these forums, I'm curious if you all would be willing to share your saving percentage? Is it a traditional 10-15%?
Out of curiosity, how do people measure their saving percentage? I've seen very different calculations done. Personally I don't have a target savings %; nor do I even calculate that figure. I just try and keep my spending as low as I can and put everything else towards savings.
I don't really track it, I know its around 30% though. Plus or minus in any given year.
Good job...better late than never and you're doing better than many. 32% is terrific, stay consistent and that $145 will double in no time.
Looking back on my 401k balances, I crossed $100K in 2005, than $200K in 2009, than $300K in 2011. Today its very close to cracking $400K. I have a really good company match that helps alot.
That's 14-24 years from now, and seems like quite a long time to me.
As another young person on these forums, I'm curious if you all would be willing to share your saving percentage? Is it a traditional 10-15%?
I'm hoping to be done quite a bit before then (but have a much higher savings rate than is traditional). Then again, I'm also wildly optimistic, so reality may come crashing down on me.
Best of luck to you all in your routes to FIRE.
I think to keep each other motivated, we should post milestones at the end of the year...and more often as achieved.
For example, I got a late start, so I reached $100K (401, Roth) last January at 38, now I'm at $145.5K (401 - 120.25K, Roth - 25.25K). In addition to maxing out my 401(k) and Roth, I also buy $50 in I Bonds every two weeks. This represents 32% of my pay (company kicks in an additional 4.5%)...not an easy feat for a single gal in SF, but I have my eyes on the prize!!!!
40 years old hoping to be semi-retired in 2027 and be in my PJs all day- 7 days a week by 2037. Raise your hands if these are your PR years!