Reply to Am I doomed? 48 only 100k in 401k

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[quote=Anonymous]This is a math problem.

The variables are as follows:

- expected age of retirement (and/or plans to not retire)?
- expected lifespan
- expected annual expenses in retirement (these can vary wildly, of course)
- expected rate of return in retirement
- expected rate of return pre-retirement
- expected inflation rate
- expected annual income and annual increases until retirement
- expected future savings rate
- other sources of retirement income (pension, Social Security, Railroad Retirement, part-time employment, etc.)
- your risk tolerance for retirement account investments
- luck

The givens are:

- starting age of 48
- starting amount of $100k

We can't tell OP if he is doomed or not because we do not know his current lifestyle and expenses.  If his income is $20k per year and is happy with his current lifestyle, $100k saved would be great.  If his income is $500k per year and he is living the type of lifestyle that would be expected at that income level, he will likely be disappointed.[/quote]

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