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vinnycactus

Monkey
May 27, 2004
636
67
Matthews, NC
I have nothing to add. I will say that we bought a new house today and some of the images gracing our walls will be images posted by Westy and SteveW....my kind of people....
 

stoney

Part of the unwashed, middle-American horde
Jul 26, 2006
21,513
7,056
Colorado
How does a retired couple, thus no longer working, still bring in 100k in income outside of deductions and investment income? F(cking magic?
Social security around $14700 to $28300. That puts us at $152000 from which to work backwards from. Assuming a 7% annual return, you need $2.14mm in savings. This assumption is that principle is never accessed. Realistically it will be, so we can round that down to probably $1.8mm or so. At 10% return for 40 years, contributing $230/m will get you there. Assume some company match, so you aren't contributing all of that.

A couple big, fat pensions? And some 401K gold?
I work with a shockingly large number of people who have gigantic 401k plans, despite their best attempts. Just by contributing blindly.

i was under the impression that a 401k is investment income...but I honestly don't know anything. Who collects pensions nowadays? Nobody making 180k is working on the UAW line...
You don't have to make that much to set aside $200/m.