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Money and Finances
Reply to "I Live Comfortably on Less than $70K After-Tax in DC Area"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm surprised that no one has called out only saving $8400 / year for retirement. Maybe you're comfortable now...[/quote] I get 100% match, so it's double. More than 20% of my income! which is more than the recommended 15%. I think I'm doing well in that area.[/quote] Me again....I just did a calculation. Saving $19,000 a year earning 8% (stock average is more than 10%) would be more than $1,200,000 in 25 years. And that's assuming that I don't start increasing the amount of contributions, and it doesn't account for what I've already saved. I'll probably have $2 million at this rate, and that's just on my own. Goes to show that one can earn around $85,000 or $90,000 (single, no kids), live comfortably, and save for a nice retirement.[/quote]
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