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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]When I was 40 (DH was a few years younger). We had about 200K combined, I had about 10% more than him.  13 and a half years later we have about 1.8M combined, I still have about 10% more than him.  We have always maxed and I have started the catch up contributions this year. We are both feds so have the 5% matching.  I expect about 15 or so more years of contributions before we retire.  I am hoping to be at 5-6M by the time we retire but time will tell.[/quote]

Seems like overkill for your needs.[/quote]

Not sure how so since I did not mention our needs or wants in retirement.  The amount I put away in catch up I put into the TSP Roth and I plan to use that part for our younger child’s college if we need it.  We put away about $60K/year in retirement including the catch up and matching.  We have a 350K HHI and are not super savers outside retirement, although our only debt is mortgage debt.  [/quote]

I wasn't trying to criticize.  Sorry if it came off that way.  I am impressed.

It looks to me like you're on track to be able to afford higher spending in retirement than you currently do.  Maybe that's the plan?  $5-6M portfolio can allow something like $200-$240k draw in retirement.  Plus with your (40?) years of service at a retirement age 68 (40+13+15), you'll have something like a $150k combined pension.  (This makes the conservative assumption of no further salary increases).  Add in a very conservative $50k per year in combined SS, and you're looking at a $400-$440k gross "income" in retirement.  Yes, some of this will be taxed, but since you mention Roth accounts it's unclear how much.  In any event, assuming you're paying off your mortgage by age 68, you're on target to have something like $100-150k in "extra" spending money in retirement.  Extra in the sense that it is greater than your current spending levels (assuming rough current numbers of $350k gross, $100k tax, $60k saving, $40 mortgage (PI only, bc you'd still have TI in retirement).  These are rough approximations.

Anyway, if I were in your shoes I'd probably plan to retire at 62 when first eligible for a pension.  But different strokes and all that.  And of course plenty of time to decide that later.  Again, not meant as a criticism, you're obviously doing great!  Keep on keepin' on[/quote]

If everything goes perfectly timing wise my youngest will graduate from college when I am almost 66, I have just added on a couple of years as a buffer as I cannot imagine retiring while still paying for college.  Also, my husband is younger than me so we will likely retire at the same time.  Your estimates are very close to mine for pensions and SS.  Hopefully this will allow us to do some awesome traveling with and without our, by then, young adult children.[/quote]

Cheers, I am the PP you've been going back and forth with.  I can relate, although I am about a decade "behind" you, and I think had our kids slightly younger than you.  We're just about 40 with young kids.  We're a one fed family but similar financials, and looking to maybe retire once our youngest graduates from college as well.  I'll be 61 then and my wife will be 59.  I guess I wouldn't have a problem, in your shoes, retiring while the kids were in college, assuming we had already saved and set aside enough $$ for college, but of course that's a big variable.  For us it makes sense to keep working until I am closer to pension age anyway.  But, if I was 62 with a kid still in college, I'd probably just retire as long as I had enough retirement and college money.  [/quote]

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