Reply to How much annual budget do you need to feel comfortable in retirement?

Forum Index » Money and Finances

Reply to "How much annual budget do you need to feel comfortable in retirement?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Realistically let me math this out.  My DH and I both have been high earners and have been working nearly our entire lives. We are both on track for max SS.  We have been faithful 401K contributors and at 47 & 50 have 1.8M in 401K and another 500K in Roth.  We currently have our house paid off, but taxes today is 10K/yr and will obviously be more in the future. Plus of course maintenance.

[b]The REAL long pole in the tent is our kids.[/b] With one kid in college who has found the intership market barren and many friends who graduated in May and STILL have not landed jobs. WE have had to break down and pull some nepo baby sh!t and get our kid a summer internship though our contacts (as we made him exhaust all his own resources first).

[b]Personally I am starting to panic about our kids [/b]and have been really trying to power save now in our taxable brokerage accouts.

If we do not have to support our kids then We will try to stick it out in the working world until age 59. At that point we hope to only live off the Roth, then at age 67 draw on SS if it is around, and then wait until we are forced into RMDs at age 73.  In a nutshell, I think 10K/mo will be a very nice lifestyle.

[b]If our kids are in a brave new dystopian world which is fear is a stong possibility[/b] everything abobe will go tits up.[/quote]

Most underrated comments.  I too have older kids in college/high and I also work a job where I am part of the management team working on automation. I see so so so many jobs going away, it is terrifying. Not only is the labor market terrible, but it is further compounded with wide spread automation. We have a whole department that has no idea they will soon be obsolete.  I truly feel we are moving more into a gig economy and going to college will just be a hobby with no real moatary gain except heathcare and commercial construction management/civil/mechanical engineering.[/quote]

All of this is overblown.  Will there be job eliminations with AI?  Of course.  Will new other jobs be created?  Yes.  The key will be being versatile and having skills that will transfer.  [/quote]

i’m not really seeing any AI job creation. [/quote]

And I am not seeing AI take jobs either.  People are saying that ---- people say the Amazon cuts were AI related but none have been.  [/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