Reply to At what age will you retire and with how much?

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[quote=Anonymous][quote=Anonymous][b][quote=Anonymous][quote=Anonymous]I’m shocked at how much money everyone has saved for retirement! Good for all of you (seriously, not being sarcastic).

We’ll be retired in 8-10 years. As a married couple, we’ll have:

- $100k/year in taxable pensions 
- Maybe $2M in retirement accounts (50% traditional, 50% Roth)
- A paid off house with around $700-900k in equity, depending on the market at retirement. 
- Medicare + FEHB, which is surprisingly expensive

I thought this sounded really well off, but not compared to most of you![/quote]

GTFOH with this humblebrag.  $100K in pensions alone is all you'll ever need.  Even for high-net-worth individuals, the median amount spent in retirement is $70K (assuming a paid-off house) - your pensions alone give you that after taxes.  [b]The extra $2M will likely never be touched and grow to a $16M inheritance for your kids.[/quote][/b]

[b]Under what circumstances[/b], swami?  Market’s been shyte and we’re down 15% overall on an account that we’ve not touched since inception.  Are you a Congressperson or Ray Dalio?[/quote]

DP.  Compound interest.  Assuming a 7% annual compounded growth, $2M becomes
- $4M in 10 years
- $7.7M in 20
- $15M in 30[/quote]

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