41–50 of 70 posts
I believe the guideline is that in order to enjoy a $X/year retirement income (adjusted annually for inflation), you need a nest egg of $25X. So if you'd like to retire with $100k/year, $2.5M would do it. And even less if you are willing to factor in social security income. If you adopt a buy-and-hold investment strategy over the course of 20-30 years, with a good mix of index funds, the above should be easily within…
If you live in a place like the Bay Area, the best retirement plan involves these 4 steps: 1. Owning a home in the Bay Area by the time you retire. No mortgage, no rent. Just bills. 2. Sell that place when you retire in order to move to a cheaper location. Use whatever's left from the sale of your home as an income for the rest of your life. Let's take a $800K home for example, if you make $150K per year, you may qua…
> " Real estate in a place like the Bay Area is the best investment because of the location " How do you know this? What you're saying sounds just like all the bankers and mortgage salesmen in 2007 promising that real estate prices will never fall. If you want to bet on SV real estate being the best investment, go ahead. But call it what it is: a speculative bet. For those who would prefer not to speculate on their r…
All housing went down in the bubble bursts, but bay area still enjoyed nice 7-8% yoy growth so far.
There are couple things that could make it pop badly - like detroit like situation where it goes bankrupt, or the other is tech companies decide to move elsewhere.
I think this is where you should eiversify either way. Buying properties where tech is currently strong is a nice way to diversify
Austin, bay area, ny might be good spots for this.
The only reason it will be lower is if income is lower.
Some people say to not contribute more than the match, because you end up paying more taxes in retirement (taxed as income) than if you just ate the taxes first and paid capital gains on it later.
I believe the guideline is that in order to enjoy a $X/year retirement income (adjusted annually for inflation), you need a nest egg of $25X. So if you'd like to retire with $100k/year, $2.5M would do it. And even less if you are willing to factor in social security income. If you adopt a buy-and-hold investment strategy over the course of 20-30 years, with a good mix of index funds, the above should be easily within…
Sounds good, though 100k in 25 years would be like 30k in purchasing power.
This blog post says as a Software Engineer working in the US you should have $4 Million in savings to have the same income, in retirement, as a fresh software engineer Fidelity is always telling me I need some ungodly amount of money saved in order to continue the lifestyle to which I've become accustomed. I don't need that much. Here's what my current income pays for that won't be an issue in retirement: 1. Maxed ou…
My approach is to actually contemplate what retirement looks like and develop a budget based on that to determine what our expenses will be, and subsequently how much income will be required to support that lifestyle.
Earlier quoted context omitted.
Sounds good, though 100k in 25 years would be like 30k in purchasing power.
Wouldn't it be more like $60K?
I believe the guideline is that in order to enjoy a $X/year retirement income (adjusted annually for inflation), you need a nest egg of $25X. So if you'd like to retire with $100k/year, $2.5M would do it. And even less if you are willing to factor in social security income. If you adopt a buy-and-hold investment strategy over the course of 20-30 years, with a good mix of index funds, the above should be easily within…
I'm 24 and have 10k in Wealthsimple because I can't be bothered to learn more about how to manage my investments myself right now (and I've been a dumbass with money for the past 6 years). WS tells me I'll have ~$5,222,649 when I'm 65 if I continually add $5k/mo to my invesments. They say "We include your scheduled contributions into this projection and assume a return of 5.1-5.45% on stocks and 0.74-1.05% on bonds a…
New account - suspicious. I don't doubt that startups like Wealthfront are gaslighting HN and Reddit.