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[quote=Anonymous][quote=Anonymous]I am 39 and only have around $100,000 saved in retirement - been a low earner for the past 10 years (only making around $65,000 a year). However I do have a pension and right now it says I can retire at 58 years old with $5700 per month. I am currently saving a mandatory 5% each month (being matched by my employer) and also putting an additional $250 per pay check into a 403(b). Give to me straight - is this super low in terms of retirement savings? [/quote] You are all set. - Your pension is worth about a million at the time you retire. - You are saving about 15% of your salary (20K/yr). With another 19 years to go and adding in the 100K you already have and assuming an 8% avg. return you should be at about $1.2 mil by then. - Add in SS You are all set. Just don't quit your government job. That would be a big mistake. [/quote]
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