Age for 1 million in retirement - couple

[Anonymous]

Anonymous wrote:

Anonymous wrote:42. Hit $2M only a few years later. It's the first million that's the hardest.

+1 hit $1M 8 years ago (me-48, DH-55). Now we have $3M.

Man, i hope for a run like this! I'm 40 (DH 44) and we won't hit a million this year, but tripling in 8 years would make up a lot of lost time. I don't expect the last few years to be the new normal, unfortunately.

[Anonymous]

Anonymous wrote:I would love to know. Can someone help me. I am 46 by the way. I have a pension instead of a 401k and my salary is $102,000. My pension simulation says that I retire at 65 my yearly pension in today's dollar will be $65k/year. The pension is also adjusted for COLI.

So I wonder how much I have in retirement now...

Call it a Million. Is there a reason you don't have a Roth on your own?

[Anonymous]

I don't have a spouse, but I hit $500k at 44.
I was not eligible to invest from age 18-30.
Then I made the mistake of buying two properties instead of going with the stock market. I never had a job that offered retirement.
Sold the properties, invested the money, and cashflow pays all my bills without having to touch the $500k.
I wonder what it would have been like if I had been able to invest the $500 every month I had left over since I started working in 1996.
Can't even imagine a company match. Overkill.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I would love to know. Can someone help me. I am 46 by the way. I have a pension instead of a 401k and my salary is $102,000. My pension simulation says that I retire at 65 my yearly pension in today's dollar will be $65k/year. The pension is also adjusted for COLI.

So I wonder how much I have in retirement now...

You can net present value the stream of pension income. There are online calculators that will do this.

Thank you. Will do.

[Anonymous]

Anonymous wrote:Since 5 million in pre-tax retirement accounts, paid off house, paid off vacation home, paid off cars, college fully funded, kids wedding fully funded, enough to give kids downpayment on first homes, and nursing homes fully paid for plus 5 million post tax retirement accounts is minimun to retire according to DCUM you have a way to go.

What question were you answering?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Since 5 million in pre-tax retirement accounts, paid off house, paid off vacation home, paid off cars, college fully funded, kids wedding fully funded, enough to give kids downpayment on first homes, and nursing homes fully paid for plus 5 million post tax retirement accounts is minimun to retire according to DCUM you have a way to go.

What question were you answering?

I believe they were being facetious.

[Anonymous]

I’m 1.5M just me. I’m 47 and haven’t worked (or invested) in 6 years. Currently a SAHM.

[Anonymous]

We were 34 and 32 when we jointly hit $1m in retirement accounts and brokerage. Not counting home equity (another 200k)

[Anonymous]

Me alone. 48. Just plugged away at my gov tsp fund and it is working.

[Anonymous]

I was 50. Now 52 and have 1.5 million. I have been saving since 28 (only maxing out for the last 10 years because I had student loans) and I find some of these numbers hard to believe.

[Anonymous]

At age 46, I just hit $1M in TSP, $250K in a separate 401(K), and very near $500K in a Roth IRA. I was maxing out the retirement contributions to all of the accounts for the last 23 years

[Anonymous]

33 and 37.

[Anonymous]

I'd guess in our early 40s for spouse and I. Spouse has been maxing and I was at 15% of salary. At about $4M now. Like others have said, once you get to $1M, things start to move quickly when interest is greatly outpacing contributions, which is great!

[Anonymous]

Ages 37 and 49. Less than 6 years later we're at 3.3 million. We are not home owners and had under-market rent for over a decade, which helped. Made less than $300k combined for years, as well.

[Anonymous]

Anonymous wrote:I was 50. Now 52 and have 1.5 million. I have been saving since 28 (only maxing out for the last 10 years because I had student loans) and I find some of these numbers hard to believe.

Agreed. People who reached either 500k alone or 1 mil combined with spouse by early 30s - is this just by maxing retirement since early 20s? You must of had a good salary back then to start so early