Is 3.4 Million the magic number ?

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Is 3.4 Million the magic number ?

Postby manuvns » Fri May 10, 2013 9:34 am

This article made me thinking if 3.4 mil the right number for most people .

http://www.marketplace.org/topics/your- ... nt-savings
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Re: Is 3.4 Million the magic number ?

Postby rixer » Fri May 10, 2013 9:35 am

My life is less magical.
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Re: Is 3.4 Million the magic number ?

Postby mhc » Fri May 10, 2013 9:38 am

$3.4 million is probably much more than most will have, let alone in a tax sheltered account. It is close to what I want to have when I retire, but half of my money will be in a taxable account.
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Re: Is 3.4 Million the magic number ?

Postby OverTheHill » Fri May 10, 2013 9:44 am

I'm retired now, with no earned income, hence no additional contributions to tax-deferred accounts. Given that 100% of my rollover IRA is invested in short and intermediate investment grade with Vanguard, plus a little in high yield, I don't have to worry about my IRA ever growing to as much as $3.4M prior to RMDs. After RMDs, I see no way the IRA will ever get close. Bottom line: I don't care whether the politicians impose this type of limit or not. It just doesn't mean much of anything in my life. Now, if the government were to go after my taxable portfolio, then that's a different matter.
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Re: Is 3.4 Million the magic number ?

Postby swaption » Fri May 10, 2013 9:46 am

I think they should call this the Romney Rule (or no, you really can't hold those private equity investments in your IRA).
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Re: Is 3.4 Million the magic number ?

Postby assumer » Fri May 10, 2013 10:07 am

swaption wrote:I think they should call this the Romney Rule (or no, you really can't hold those private equity investments in your IRA).


Well, before this non-actionable thread gets likely locked, I'm going to put a link to Self-Directed IRA's which are an interesting vehicle one can consider:
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Re: Is 3.4 Million the magic number ?

Postby Iorek » Fri May 10, 2013 10:11 am

$3.4m is about what we're hoping to have at retirement for 2 people.
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Re: Is 3.4 Million the magic number ?

Postby gkaplan » Fri May 10, 2013 10:27 am

I guess it's canned tuna for me in retirement.
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Re: Is 3.4 Million the magic number ?

Postby Blues » Fri May 10, 2013 10:31 am

gkaplan wrote:I guess it's canned tuna for me in retirement.


On the bright side, what yield on what amount of principal would you need to equal the value of your pension year in and year out?
Whenever I reflect on that I give thanks for the happy consequence of something I gave very little thought to back when I signed up.

(BTW, I like my tuna with oil, not packed in water. 8-) )
“Tactics without strategy is the noise before defeat.” - Sun Tzu | "Everybody has a plan until they get punched in the mouth." - Mike Tyson
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Re: Is 3.4 Million the magic number ?

Postby LadyGeek » Fri May 10, 2013 10:32 am

This thread is off-topic and locked (proposed legislation, as described in the article). See: Forum Policy

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In order to avoid the inevitable frictions that arise from these topics, political or religious posts and comments are prohibited. The only exceptions to this rule are:
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