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Retirment savings at 35 years old

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neffjohn
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Retirment savings at 35 years old  Reply with quote  

How can I delete this post I made?

Last edited by neffjohn on Tue Jun 02, 2015 8:38 pm; edited 1 time in total
Post Fri May 29, 2015 4:28 pm
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oldguy
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You're investing about $11,000/yr and you have about $105000.
If you do that for 30 more years @ 11%/yr, that will be $4.6 Million. Or at 5%/yr it will be $1.2M. As you can see, the investment return that you select is the key metric. During my working years, I always used wealth-building investments, 11%/yr return - and then after I retired I switched to a wealth-preservation mode - about 7%/yr.

Car - Your cost of 'ownership' is $3540/yr, you might want to consider 'buying' instead of leasing, that way you can control the ownership cost, maybe get below $2500/yr. Like the book, 'The Millionaire Next Door' says, most millionaires drive older cars, there's a reason for that.

The $4000 EF is 'dead' money, it might be good to cap it there and quit adding the $150/m.

I see that you're a Chem E, an Ariz PE? Just looking at your age & salary - I'm wondering if you wouldn't do better in the Private Sector? There are some major employers around - Intel, GD, Honeywell, Boeing Helicopter, Microchip - the explosives folks use Chem -auto air bags, actuator squibs both in space flight and weaponry, rocket motors, shaped charges, etc.
Post Fri May 29, 2015 5:35 pm
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Wino
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He's not investing it at 11% per year. He's putting it into the State fund and a different State 401K. That's even more reason to leave his job. He should change jobs and pull the money out to put into Vanguard or Fidelity so he can choose decent funds.

The above is assuming that AZ doesn't have good fund choices, which it probably doesn't because it is run by civil servants who probably don't have a clue.
Post Sun May 31, 2015 1:12 am
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