Reply to At 35, is 1M a big enough nest egg

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]For a nice retirement? My DH is the higher earner, but taking a well deserved step back and got a nice Fed position. We'll both be GS-15, maxing out TSP contributions, but won't be able to invest in our brokerage in a meaningful way with expenses. Our house is worth about 900k and we still owe 500k on it, at pandemic level interest rates.

I realize I'm fortunate but it's weird not to be able to contribute to the brokerage account anymore. We're in a total world index fund fwiw[/quote]

Children? Are you aware that private colleges are now almost $100,000 a year x 4 x how many children you have to put through? Add in taking care of elderly parents, surprise costs like SN kids, speciality doctors, testing, shrinks and SN schools … and you’ll
Have even less if fate removes one of you as a bread earner. I hope you have good life insurance too.[/quote]

They have investments plus make 350k-400k a year. They will be fine. [/quote]

A) investments were unspecified.
B) you have to pay tax on that $350k a year at the 35% level = that’s $140k gone. Incime is now down to $210k
C) they owe half a million. At Covid interest rates on a 30 year fixed, they are paying $2016 or more a month. Now down to $175
D) now you pay TSP, foid, car, insurance, life, disability, clothes, taking car of family 
D) they said nothing about children, plans or otherwise. 
E) they have spent everthing they made.
F) you can’t retire in “unspecified” amount of investments even if it compounded forever. 
G) if ine if them loses their job or becomes disabled or stays at home, they might have to dip into “unspecified” savings to pay down the $500k[/quote]

What are you ranting on about? They didn’t say they were quitting their jobs. Christ, you can’t even read and are giving them advice?[/quote]

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