Reply to How much do people have saved for retirement?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]PP here.  I stand corrected.  Taxes in Fairfax ARE that high, and start getting there real quick even without a mansion.  Another reason not to live there, I guess.[/quote]

True. I have a borderline teardown worth about $900K and our taxes and insurance run $15K a year.[/quote]

Oof. A retired person in DC would be paying something like 3K/year on that!

We've got about 1M at 35. We're only going to save up to our matches from here on out. Really no need more more savings (other than college). We spend about 80k/year after-tax these days, but that includes 30K in mortgage payments (not including property tax+insurance). Current employers let us retain health care if we leave at age 50.[/quote]

Do you mind telling us which employer allow you to stay on their health plan?[/quote]

Not OP, but many academic institutions have either 50 or 55 as the age you can first retire. (The 50 plans have mostly been phased out, but may exist in a grandfathered way).

Georgetown: https://benefits.georgetown.edu/preretiree/#c_dcbdc93e1681
American U: https://www.american.edu/hr/benefits/retirement/bep.cfm

Both are 55; but I think some people who were hired long ago are eligible at 50.[/quote]

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