Deleted
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Post by Deleted on Jan 5, 2018 13:31:05 GMT -5
With this year's Roth contribution I have crossed over the 400K mark in my retirement accounts! $405,414 to be exact.
I might retire someday yet.
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Jaguar
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Post by Jaguar on Jan 5, 2018 13:34:14 GMT -5
Congrats!
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Miss Tequila
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Post by Miss Tequila on Jan 5, 2018 13:43:14 GMT -5
That's awesome!!! Woo-hoo!!!
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Deleted
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Post by Deleted on Jan 5, 2018 13:56:09 GMT -5
That's 10X my annual income excluding child support. I want to draw 40K/year in retirement so I'm figuring I'll need 1.2 million. I just might get there.
According to my Phil Script, a lump sum investment of $405,414.00 bearing an annual return of 7% could grow to $1,118,550.01 in 15 years!
According to my Phil Script, a yearly investment of $10,000.00 bearing an annual return of 7% could grow to $268,880.54 in 15 years!
Total $1,387,430.55 when I'm 64.
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giramomma
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Post by giramomma on Jan 5, 2018 14:15:47 GMT -5
Great job!
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dee27
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Post by dee27 on Jan 5, 2018 14:17:09 GMT -5
Good job!
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Rob Base 2.0
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Post by Rob Base 2.0 on Jan 5, 2018 16:57:27 GMT -5
Congrats, dude!
PS- about how much did last year's gains provide you to this goal?
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Deleted
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Post by Deleted on Jan 5, 2018 17:05:33 GMT -5
Congrats, dude!
PS- about how much did last year's gains provide you to this goal? A LOT. 12 months ago, balance was 325K. I contributed 17K between 401K, match and Roth, so 63K was gains.
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Happy prose
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Post by Happy prose on Jan 5, 2018 17:09:05 GMT -5
Great job! Congratulations!
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busymom
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Why is the rum always gone? Oh...that's why.
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Post by busymom on Jan 5, 2018 17:09:44 GMT -5
Nice work! (Anyone special you're planning to smack with a stack of Benji's?)
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alabamagal
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Post by alabamagal on Jan 5, 2018 17:12:09 GMT -5
That's 10X my annual income excluding child support. I want to draw 40K/year in retirement so I'm figuring I'll need 1.2 million. I just might get there. According to my Phil Script, a lump sum investment of $405,414.00 bearing an annual return of 7% could grow to $1,118,550.01 in 15 years! According to my Phil Script, a yearly investment of $10,000.00 bearing an annual return of 7% could grow to $268,880.54 in 15 years! Total $1,387,430.55 when I'm 64. Lyrics from the Beatles song..... Will you still need me Will you still feed me When I'm sixty-four?
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pooks
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Post by pooks on Jan 5, 2018 17:47:50 GMT -5
Awesome!!!!!
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atlast30
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Post by atlast30 on Jan 5, 2018 23:03:46 GMT -5
Woohoo!!!! Congratulations!!!!
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tskeeter
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Post by tskeeter on Jan 5, 2018 23:22:05 GMT -5
With this year's Roth contribution I have crossed over the 400K mark in my retirement accounts! $405,414 to be exact. I might retire someday yet. Great work! You’re about at the point where the gains on your retirement accounts each year will be more than your paycheck. That’s a really good place to be.
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justme
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Post by justme on Jan 6, 2018 1:52:35 GMT -5
I'm always in freaking awe by how much you put away each year. I make more than you, no kids, and I still put away less than you. I know part of that is your taxes are favorable to that thanks to the kiddos, but it's still amazing.
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zibazinski
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Post by zibazinski on Jan 6, 2018 6:56:31 GMT -5
Now, unload that farm and buy a smaller house in town. I’m worried about you shelling out for college because your ex’s won’t.
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thyme4change
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Post by thyme4change on Jan 6, 2018 9:58:43 GMT -5
🎉
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Deleted
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Post by Deleted on Jan 6, 2018 11:04:55 GMT -5
I'm always in freaking awe by how much you put away each year. I make more than you, no kids, and I still put away less than you. I know part of that is your taxes are favorable to that thanks to the kiddos, but it's still amazing. I get a ton of child support, so not as amazing as it appears. Plus, the last 5 or 6 years I've been preparing for a big drop in income. I've been funneling any raises into the 401K and when Carrot started school, the 5K that was going into dependent care FSA dropped to $2600 and I immediately upped my 401K again to suck up all that increase. When child support ends I want to be able to drop down to no IRA and to the match for 401K and still have enough of a snowball of retirement savings that it can continue to grow on it's own without much help. While most people are putting large amounts into retirement the 10 years before they retire, I might not be doing much. I'll have kids in college until I'm 63! I'm also eyeing up the Roth as savings that can be tapped pre-retirement. If I still have this house in 2022 or so there will be enough in contributions to pay off the mortgage balance. I don't really WANT to do that if I can avoid it, but it's a nice option to have.
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Deleted
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Post by Deleted on Jan 6, 2018 11:05:49 GMT -5
Now, unload that farm and buy a smaller house in town. I’m worried about you shelling out for college because your ex’s won’t. I find this hard to believe, but I think older son might actually have enough saved to get him through!
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dannylion
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Post by dannylion on Jan 6, 2018 11:25:12 GMT -5
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ners
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Post by ners on Jan 6, 2018 12:01:30 GMT -5
Great job
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Rukh O'Rorke
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Post by Rukh O'Rorke on Jan 6, 2018 12:09:28 GMT -5
Great job, MPL.
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tcu2003
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Post by tcu2003 on Jan 6, 2018 13:22:17 GMT -5
Way to go!! Woo hoo for milestones!!
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irishpad
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Post by irishpad on Jan 6, 2018 13:38:53 GMT -5
Awesome MPL. Admire your discipline while raising your boys and enjoying life.
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tallguy
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Post by tallguy on Jan 6, 2018 17:22:14 GMT -5
With this year's Roth contribution I have crossed over the 400K mark in my retirement accounts! $405,414 to be exact. I might retire someday yet. Congrats! I know I thought it was cool when my 401k hit $401k. You probably have IRA's mixed in now but pay attention to the other one for later.
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Deleted
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Post by Deleted on Jan 6, 2018 18:16:40 GMT -5
With this year's Roth contribution I have crossed over the 400K mark in my retirement accounts! $405,414 to be exact. I might retire someday yet. Congrats! I know I thought it was cool when my 401k hit $401k. You probably have IRA's mixed in now but pay attention to the other one for later. I don't think I'll ever see that. My 401K is only 132K of the 405, the rest is all IRAs...but who knows...I have one rollover IRA that was $22,800 when I left my job in late 2002. This represented 9 years of contributions and match. I was THIS CLOSE to cashing it in when I quit to pay off my truck. That IRA is worth just under 130K now without ever adding another dime, nearly 6X what it was 15 years ago. I plan on keeping that separate and hopefully in the same fund it's been in (FLPSX), until I retire and never add to it. It would be cool to see how many years of retirement that 22K bought me.
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Jake 48
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keeping the faith
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Post by Jake 48 on Jan 6, 2018 21:41:24 GMT -5
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Value Buy
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Post by Value Buy on Jan 7, 2018 11:06:53 GMT -5
Our combined accounts hit a tremendous milestone number for us this week also. I do not want to say what it is, but I will say when we retired in October, three years ago since we were no longer socking money away, we figured we had pretty much hit our top number, since we had made a pledge to spend some money on some things, including a down payment on a house in Florida in May of 2015. We not only blew the old number away last February, but hit a number neither of us expected to, since all we can do is move money to different investment vehicles, but our stock portfolio is about 85% the same during this time frame. We are very long term investors. I guess what I am trying to say, even without really micromanaging things now, we continue upward.
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