Reply to So how do you know if you're "on track" with retirement savings?

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[quote=Anonymous][quote=Anonymous]I have tried various online calculators and gotten radically different answers!

Here is our situation: does it seem like we are saving enough/not enough/too much?

DH is military and will retire in a few years as an 06, which means half-pay --roughly 60k/year-- starting at retirement; presumably he will get another job, however.
Our house is probably worth 900k and mortgage is paid off
We also own several so-called investment properties, in which total equity is probably about 300k 
We have (in addition to husband's military pension) IRAs and 401ks amounting to about $600k, in diversified (mostly indexed) mutual funds.
We have $150k in 529s for our two kids, now 9 and 11.

Right now HHI is about $300k but both kids are in private school, so we have a $60k annual tuition bill; they will probably stay in private school through HS.

So-- basically we feel very fortunate and recognize we have way more than many/most, in part due to good income right now and in part due to an inheritance from my mother-in-law a few years ago. My question is not whether we are doing well in terms of current income and so on, but rather: given our income and the fact that we will be paying two private school and then college tuitions for the next 10-15 years, should we be patting ourselves on the back and telling ourselves it's okay to stop worrying, as we are totally on track to retire with a similar standard of living in 20-25 years, when we are in our mid to late sixties? Or should we be doing more? I basically think we are in good shape-- that we should continue to contribute to 401ks at the highest level we can, but that we can relax and not fret too much about it. Thoughts? How do you know when you're on track?[/quote]

what are you talking about????? Your house is paid for and you are going to get $60K for life, plus you have all that cash in savings.  I think you are way ahead of the game[/quote]

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