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Reply to "50 year olds - how much retirement $ do you have saved?"
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[quote=Anonymous]almost 50. it's a mixed bag. i've got around $550k in retirement accounts. we have about 50% equity in a $2.5mil house, I have around $70k in cash, and about 300k in securities. If I keep at my current job until 62 I'll have a pension of around $5500 a month; if I took social security right away it would be another $2500 a month, and in theory if i keep my current retirement match and do catch-up contributions I'll have about $2mil in my retirement accounts which could provide around $6300 a month though i'm not sure I would need that much? currently our only debt is the house. college for child will be covered by the grandparents, for which i am endlessly grateful. I guess we'll see how things actually go. I know I don't do well without a job, so maybe I won't want to retire in 12 years which is basically when kiddo will be off to college anyway?[/quote]
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