Retirement: What's your number?

If all goes according to plan, house will be paid off in 2021.

As for retirement, aiming for $5M.

 

2%?

 

I still use rule of thumb 3% in valuations, but 2% is fine for me too.

That said, we're due a spike at some point.

 

I have one truck payment. Already drawing retirement from alabama, have 5 months left until I can draw retirement from georgia. Probably going to teach 2 more years, that will put me at 62 and I'll have bama and ga retirement,plus SS.

 

We already know that's the stance your wife takes too.

 

i'm usually lowering my return projections to 5% net too. I figure if we see a spike the return on bonds and stocks will be higher. that being said I keep it at the historical number to be conservative for most people.

 

I'm gonna be on the kozmo kramer plan. Nobody gonna know how the hell i'm managing it.

 

$10M.

 

remind me to start soliciting you people

 

Probably. We're the same person, so I guess our answer would be: "still getting mine."

 

Good for you! I wish I could do a 15 year. We looked at doing it when we bought this house last month but couldn't swing it.

 

One BILLION dollars. Mmmmaaaaa

 

Shoot we refinanced ours maybe 6 months ago when rates were still low. Switched from 30 to a 15 and our monthly payment is barely higher. We had sort of a crappy rate, though.

 

I ended up getting my rate at like 3.25%/30. I'm in no rush to pay it off. Rather put that money elsewhere.

 

unless you need the forced savings, you'd be far better off taking the mortgage deduction and investing the difference. I want to pay off my house before I retire to have that emergency savings if I need it (and obviously to reduce expenses), but I plan on writing the final check right when I retire.

 

Our goal is $4-5M.

 

yeah I'm at 3.5% and I doubt i'll ever see that rate again.

 

Seriously. Without mortgage, our monthly expenditures come out to ~$1k.

 

i'm paying that much just for preschool for my twins to go 3 days a week from 9-12.

 

Yeah well that's just kinda your fault.