Please post your target goals in this format Family-Size/Target-Age/Target-Cash/Target-401k,IRA,Roth/Target-Real-Estate/Target-Fixed-Income I’ll start 3/42/$400k/$500k/$600k(India)/$30k p.a
Tree fiddy
Fire meaning retire? Also 401k makes no sense up until you are 65. Also, how would you get fixed income?
401K is can be used even before your retire. Google “conversion ladder” method
60% tax dude. Rather put it in a savings plan.
Never
By choice?
Yep.
Family of 3, house paid off and 500k in bank account, retire at 36 in India. Work as a professor/ instructor to get 25 lac INR p.a. Live like a king in India
Love the last line.."Live like a king in India" But practically is this possible? With peer pressure to put your kids in international boarding school etc. would that saving be sufficient?
Why international boarding school? Normal school is fine. I was raised in an environment where everyone went to a local school and came about fine
1/40/150K/3M/500K/80K per year (under 4% SWR)
2/38/50k/3.5m/0/100k Currently 28 with $800k net worth so a lot of this is subject to change.
Too complicated to answer.
I don’t understand some of your metrics: why do you care about the amount of cash? Target real estate- is that primary home or investment properties? Why family size? What matters is what your total expenses will be. Anyway here’re the numbers that I think really matter at retirement: how many years before you want to start withdrawing from 401k IRA / amount of investable money (money that can generate income) including rental properties / retirement account(s) / amount of debt (e.g. mortgage) / projected annual expenses (taking inflation into consideration if far into the future). For me: 20-25 years / $3m investable / $1m IRA / $0 debt / $80-100k expenses
Refer Mrmoneymustache.com .. how to retire with Fixed chunk . Good insights .
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