09-22-2016, 12:59 PM
The thing this doesn't help with is saving more as 6x your income at 50 prolly won't be closento 6x today... so the raw amount you "need" accelerates. I used a few online calculators, but they require you to make too many assumptions to be worth the effort.
I don't include equity because people rarely liquidate everything in retirement. My dad uses vrbo, but he's got a crapton of cars. I guess you could always pull some equity, but it's equally as nice to eventually pay the mortgage off. I have to assume it's cash, stocks, etc.
The one thing I don't know is family gifts, like my parents giving us money for the kid's tuition. I guess it's best to never count on that, but a bit now could be a good chunk of change in 18 years. I have the extra special situation of him graduating a bachelor's program when I'm 60... which is the latest I'd like to retire.
My saving is weird because I'm almost 50% RSU and they don't take 401k out of those awards. That means I'm really only putting half my election into it, unless I deposit big chunks at RSU vests.
I don't include equity because people rarely liquidate everything in retirement. My dad uses vrbo, but he's got a crapton of cars. I guess you could always pull some equity, but it's equally as nice to eventually pay the mortgage off. I have to assume it's cash, stocks, etc.
The one thing I don't know is family gifts, like my parents giving us money for the kid's tuition. I guess it's best to never count on that, but a bit now could be a good chunk of change in 18 years. I have the extra special situation of him graduating a bachelor's program when I'm 60... which is the latest I'd like to retire.
My saving is weird because I'm almost 50% RSU and they don't take 401k out of those awards. That means I'm really only putting half my election into it, unless I deposit big chunks at RSU vests.
'76 911S | '14 328xi | '17 GTI | In memoriam: '08 848, '85 944
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth