Reply to How Do You Think I Am Doing -- What Should I Do Differently?

Forum Index » Money and Finances

Reply to "How Do You Think I Am Doing -- What Should I Do Differently?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]I don't understand how the emergency fund isn't joint, if you are funding it from current income.

I'd do a divorce budget (lawyer costs, etc.) and a post-divorce living budget.   I'd assume all assets get cut in half.  For reasons cited above, I wouldn't count on that emergency fund.

Even if you stay married, assuming that you will want to live on 70 percent of your current HHI ($112,000), you will need about $2.8 million in savings.  You can get there if you save $15,000 a year through age 65, and earn a 9 percent return on your investments.    You can reduce the $2.8 million figure if you 1. have a pension, 2. count on social security, 3. can live on less.   You can also save more.

I'd say the best financial investment you can make is to keep your marriage together.   And start maxing out all of your retirement options.  You say that your annual expenses are about $90k, but HHI is $160 - where does the rest go?[/quote]

I am planning to work much longer than 65.  I will get a pension, and I do expect SS to still be around.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics