Reply to At what age will you retire and with how much?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We are 45 with $3M ($500K home equity). Kids in 9th and 5th grade. Not planning on retiring till kids are launched (done with college), so around 56/57. We want to pay the entire undergrad tuition, so I would think we would retire with ~$5M. We are relatively high earners $500K HHI (since 2021), so should at min be at $5M when the kids are launched minus any tuition cost[/quote]

How do you think you will get to almost double your money in the next 12 years?  500K is heavily taxed and you probably still have mortgage (Home equity seems low for this area for a fully paid home) and have to pay for college.  Are you all market wizards who know how to multiply your money so fast doing low risk transactions?[/quote]

That’s a very reasonable scenario. They should be saving 75-100k/yr in that. Let’s say 100k..that adds 1.2M right there plus even if they put all their money in a 12yr CD (not a thing just illustrating) paying 4.5% they would easily double their net worth.

Not rocket science…[/quote]

I get it, they are planning to work and earn the same for 10-12 years, but there is no guarantee, economy isn't really stable. What if their income decreases.  What if they get fed up working for another 10 years or become too old for the demands of their workplace? [/quote]

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