Reply to What's your "number"?

Forum Index » Money and Finances

Reply to "What's your "number"?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Can someone provide some advice on how to save that much?  We're 35 and have a HHI of 350. We just started contributing to our 401Ks this year.  How do we save 5 million by 65?  Thanks.[/quote]

Save $100k a year.  Invest wisely.  You should hit $5mm in 30 years unless markets do nothing for the whole period.  [/quote]

Invest in the market?  Mutual funds/etfs?  Or in other things?[/quote]

Yes to all. You should probably go with a diversified basket of index funds - mostly US equities, but with a chunk of international and emerging markets indexes.  [/quote]

Interesting.  So when people talk about what they have saved for retirement, it's 401K + extra money they pump into the market, and this is how they get to 5 million?  I'm assuming you can't count your house - you have to live somewhere so presumably you arent going to sell it in retirement until possibly the very end of life if you go into a home.[/quote]

Depends. We have a 5 bedroom house - we won't need, nor want, something this large in retirement. My vision is a pied a terre in Europe and something like a townhouse here. So I count a portion of my house as retirement.[/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