Reply to If you have a net worth of 1.4 million at 44

Forum Index » Money and Finances

Reply to "If you have a net worth of 1.4 million at 44"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]We make $300K/year now.  Right now we have $1.2m saved not counting our house (or the kids' 529s) and my husband hopes to have $2m when we retire.  He says that would give us $100,000 a year in interest to live on, plus his pension.  I don't know what a good target amount really is - but our house will be paid off in 3 years (I'm 42).  Our house is worth appx. $900K rn.

Anyway - I am not using a financial advisor [yet].  I am not opposed to it but I am trying to read what I can for free first.  I recently read I will teach you to be rich by Ramit Sethi.[/quote]

Why would $1.2M only turn into $2M by retirement age if you are 42 now? Are you playing it too safe and have most of your money in bonds?

The S&P 500 has an average return of 10% since 1957. Even if you contributed nothing for the next 20 years and got 6% a year you would have $3.8M when you’re 62 if you put all your money in an index fund.

OP will have plenty of money in retirement as well at the same age as long as they’re not overly conservative and put too much money in cash and bonds. [/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