Anonymous
10/27/2012 21:31
Subject: Re:I am X years old and have X saved in a retirement fund
Anonymous wrote:I'm interested in the topic but don't find the responses useful because lots of people don't specify whether they have a pension. That does impact how much you'll need in your IRA when you retire. Many people in the US do not have a pension. Since this city has a high rate of Federal employment, lots of people here have pensions but it's not the nationwide norm. We also don't know how much debt some posters have in addition to their retirement plan. I don't think it's safe to assume they are debt free if they've got a decent IRA balance for their age. The question should really be, how much should I have in my IRA at my age assuming I do (don't) have a pension? And most of us don't have enough, not even close.
I'm early forties with $650K and expect a decent pension. I want to get another $350K at least before I retire, which is doable.
Good points. We are poster above you. We will be debt free ie house paid for in 12 years. It's a 3m house by today's standards. We don't expect to have other debt, nor do we have any today other than mortgage. We plan to downsize in ten years.
Anonymous
10/27/2012 21:30
Subject: Re:I am X years old and have X saved in a retirement fund
21:27 again: also, limited debt with lots of equity in the home and some money set aside in college plans. Spouse in about same position. I had college debt to pay off but still put $ in retirement early on. It's much easier to save for retirement if you start early.
Anonymous
10/27/2012 21:27
Subject: Re:I am X years old and have X saved in a retirement fund
I'm interested in the topic but don't find the responses useful because lots of people don't specify whether they have a pension. That does impact how much you'll need in your IRA when you retire. Many people in the US do not have a pension. Since this city has a high rate of Federal employment, lots of people here have pensions but it's not the nationwide norm. We also don't know how much debt some posters have in addition to their retirement plan. I don't think it's safe to assume they are debt free if they've got a decent IRA balance for their age. The question should really be, how much should I have in my IRA at my age assuming I do (don't) have a pension? And most of us don't have enough, not even close.
I'm early forties with $650K and expect a decent pension. I want to get another $350K at least before I retire, which is doable.
I'm early forties with $650K and expect a decent pension. I want to get another $350K at least before I retire, which is doable.
Anonymous
10/27/2012 21:17
Subject: I am X years old and have X saved in a retirement fund
Combined 1.3 m. 43 and 42. Kids college 100k 6 and 8 yo
Anonymous
10/27/2012 20:47
Subject: Re:I am X years old and have X saved in a retirement fund
40 and 40
DW - about $400,000 including DB plan
DH - about $300,000
HHI $200,000
DW - about $400,000 including DB plan
DH - about $300,000
HHI $200,000
Anonymous
10/27/2012 20:23
Subject: I am X years old and have X saved in a retirement fund
32
100k
100k
Anonymous
10/27/2012 20:18
Subject: I am X years old and have X saved in a retirement fund
Anonymous wrote:I'm 38, single, and I have $338K including 401K and Roth IRA.
Forgot to add that my gross income is about $116 plus $15K rental income, so $131K.
Anonymous
10/27/2012 20:17
Subject: I am X years old and have X saved in a retirement fund
PP again, plus DH gets retirement pension; and we own 2 homes outright, which our son will be given.
Anonymous
10/27/2012 20:14
Subject: I am X years old and have X saved in a retirement fund
50, me $350,00; DH $550,000; DH life insurance $3 million.
Anonymous
10/27/2012 20:11
Subject: I am X years old and have X saved in a retirement fund
I'm 38, single, and I have $338K including 401K and Roth IRA.
Anonymous
10/27/2012 19:45
Subject: I am X years old and have X saved in a retirement fund
49 with 245K in 401(k) and also have a defined benefit account; my income is 110K
Not sure about DH although he has a CSRS pension
Not sure about DH although he has a CSRS pension
Anonymous
10/27/2012 19:30
Subject: I am X years old and have X saved in a retirement fund
Late 30s - combined 450k in retirement savings
HHI 200k
HHI 200k
Anonymous
10/27/2012 19:30
Subject: Re:I am X years old and have X saved in a retirement fund
DH 41, DW 42
HHI 155,000
DW 110,000
DH 14,000
We both have defined benefit accounts
HHI 155,000
DW 110,000
DH 14,000
We both have defined benefit accounts
Anonymous
10/27/2012 19:22
Subject: I am X years old and have X saved in a retirement fund
48 and 47. About $250k combined in TSP/401k but I will have a CSRS pension and my wife with have a MCPS pension....
Anonymous
10/27/2012 19:13
Subject: I am X years old and have X saved in a retirement fund
Me 27 10k
DH 33 11k
DH 33 11k