Reply to Late 40s. We have about 3.5X our gross HHI saved. Is that ok?

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[quote=Anonymous][quote]Between our 401ks, brokerage accounts, and cash, we have about 3.5X our current HHI in financial assets. Not including home equity.

On the one hand, I'm proud of what we've been able to accumulate. On the other hand, 3.5X doesn't seem like a huge multiple if we ever want to stop working.

Where are others at in their late 40s??

There is no scenario where 3.5x is enough at that age.[/quote]

it depends on expenses in retirement and what 3.5 HHI actually is.

If HHI is 300k, then they have 1 050, 000 and work another 20 years, and invest 60k year between their contributions and any match,, and takean average of 7% performance,  they will have around 6m in 20 years. they can draw 240k year (in future dollars) plus other sources of income (salary increases, pension or social security), and of course market performance.

If they have 750k saved, they will hit 5 million.

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OP, in our late 40s we had about 1.3m saved total ,excluding 529 and home equity. We are mid 50s now and that sum has reached almost 4m. We have maxed every year, and invested in boglehead style portfolio. we could retire anytime, esp as we will also get pensions. [/quote]

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