Reply to Do I Need to Save More for Retirement?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I'd do some research about how much in retirement you need to have your desired monthly income. If you want to be able to spend $200k+/yr, you're not anywhere near how much money you would need. Swap your 20 yr old used cars for 2 yr old used cars and keep on saving. The 2008 financial crisis happened when I was in my late 30s and it seemed like my retirement savings didn't increase over what I had in 2007 for almost 10 yrs...point being that we're overdue for a prolonged downturn and you need a financial cushion to be ready for it. 
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He and his wife will be entitled to social security. We can debate the future of social security but right now, based on the size of their savings and house, they're probably likely to be in a position to receive about $3500 a month, each, in today's value. That's $84k in social security a year. Which means tapping into $120k from their savings. At a 4% draw they'd need $3M in investments. He's already halfway there. Agree he shouldn't completely stop is retirement savings but I'd think maxing out the 401k each year is enough between now and 2046. [/quote]

I'd keep saving in the brokerage, even if you want a conservative allocation, because you think we are heading for a crash.  Brokerage is your liquidity in case you lose jobs, have a catastrophic event in the family, etc.[/quote]

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