Am I on track ?

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3274Winston
Posts: 12
Joined: Sun Jul 29, 2012 7:10 pm

Am I on track ?

Post by 3274Winston »

38 years old, unmarried, no debt, non homeowner
55000 annual salary ; contributions ( 20% to 401k (15%reg 5% Roth )with6% company match) + 1200 to ROTH IRA
As of this email retirement accounts total $201,659
145559 401K; 29719 Roth IRA; 19277 traditional IRA and 7067 individual stocks
asset allocation:
Cash 5%
Bonds 14%
Large-cap stocks 22%
Mid/small-cap stocks 30%
International stocks 25%
Company Stock/Individual equities 4%
looking to retire between 62 and 67
See many different retirement calculators with different answers. Am I on track?
Thanks
Grt2bOutdoors
Posts: 25625
Joined: Thu Apr 05, 2007 8:20 pm
Location: New York

Re: Am I on track ?

Post by Grt2bOutdoors »

Looks like you are doing well in the savings department.

What amount do you expect to receive from Social Security upon retirement?
What do you expect your annual expenses to be at retirement? You can perform a rough calculation by taking your annual expenses today and applying an inflation factor.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
Johm221122
Posts: 6394
Joined: Fri May 13, 2011 6:27 pm

Re: Am I on track ?

Post by Johm221122 »

Welcome to forum,
yes your definitely on track :sharebeer
Here is is the basic philosophy here
http://www.bogleheads.org/wiki/Boglehea ... philosophy
Good luck,john
Jane61
Posts: 10
Joined: Sun Jul 29, 2012 5:48 pm

Re: Am I on track ?

Post by Jane61 »

Can you tell me how I am doing, if I'm on track to retire in 7 years?

Figure I'll need to fund a 40 year retirement;
Single, condo owner;
Mortgage = $58K (plan to pay off before retirement);
401K = $360K;
Roth = $36K;
Trad IRA = $36K;
Money Mkt = $242K;
TRBCX = $5K (T Rowe Price Blue Chip Growth);
Franklin Tax Free = $16K (Municipal bond fund);
Taxdeferred Savings Annuity @ 5.5% = $16K;
I-Bonds = $32.5K;
Savings Acct = $19.1K;
Will max out 401k ($22K) and Roth/IRA ($6K) each year until retirement;
Soc Sec roughly $20K/yr;
Pension roughly $20K/yr;
I will live on roughtly $60K/yr;
Everything is in interest bearing savings accounts getting 0.03%-2% interest pre-tax (except for the annuity which gets 5.5%);
I'm waiting (with bated breath) for interest rates to rise, so I can live off of the interest.
I welcome all comments, recommendations. Thank you.
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Mel Lindauer
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Posts: 35782
Joined: Mon Feb 19, 2007 7:49 pm
Location: Daytona Beach Shores, Florida
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Re: Am I on track ?

Post by Mel Lindauer »

Jane61 wrote:Can you tell me how I am doing, if I'm on track to retire in 7 years?

Figure I'll need to fund a 40 year retirement;
Single, condo owner;
Mortgage = $58K (plan to pay off before retirement);
401K = $360K;
Roth = $36K;
Trad IRA = $36K;
Money Mkt = $242K;
TRBCX = $5K (T Rowe Price Blue Chip Growth);
Franklin Tax Free = $16K (Municipal bond fund);
Taxdeferred Savings Annuity @ 5.5% = $16K;
I-Bonds = $32.5K;
Savings Acct = $19.1K;
Will max out 401k ($22K) and Roth/IRA ($6K) each year until retirement;
Soc Sec roughly $20K/yr;
Pension roughly $20K/yr;
I will live on roughtly $60K/yr;
Everything is in interest bearing savings accounts getting 0.03%-2% interest pre-tax (except for the annuity which gets 5.5%);
I'm waiting (with bated breath) for interest rates to rise, so I can live off of the interest.
I welcome all comments, recommendations. Thank you.
Hi Jane:

You should start a new thread with your situation and questions.
Best Regards - Mel | | Semper Fi
Johm221122
Posts: 6394
Joined: Fri May 13, 2011 6:27 pm

Re: Am I on track ?

Post by Johm221122 »

Jane61 wrote:Can you tell me how I am doing, if I'm on track to retire in 7 years?

Figure I'll need to fund a 40 year retirement;
Single, condo owner;
Mortgage = $58K (plan to pay off before retirement);
401K = $360K;
Roth = $36K;
Trad IRA = $36K;
Money Mkt = $242K;
TRBCX = $5K (T Rowe Price Blue Chip Growth);
Franklin Tax Free = $16K (Municipal bond fund);
Taxdeferred Savings Annuity @ 5.5% = $16K;
I-Bonds = $32.5K;
Savings Acct = $19.1K;
Will max out 401k ($22K) and Roth/IRA ($6K) each year until retirement;
Soc Sec roughly $20K/yr;
Pension roughly $20K/yr;
I will live on roughtly $60K/yr;
Everything is in interest bearing savings accounts getting 0.03%-2% interest pre-tax (except for the annuity which gets 5.5%);
I'm waiting (with bated breath) for interest rates to rise, so I can live off of the interest.
I welcome all comments, recommendations. Thank you.
Mel is right,but why do you have 242k in money market and 9k in savings.Here is asking portfolio question
http://www.bogleheads.org/forum/viewtopic.php?t=6212
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