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Look for jobs that have a good match and allow Roth megabackdoor. Because having 70k a year in retirement funds is somewhat life changing.
by ojbyrne 2y ago
Look for jobs that have a good match and allow Roth megabackdoor. Because having 70k a year in retirement funds is somewhat life changing.
- 999900000999 2y ago70k invested per year, I think I could be done in a decade. I had a really good year where I just neglected to set my 401k up. So much money wasted on taxes. I'm not really trying to retire in the US, I don't intend on having a family. I think a million or so, might be enough. 5% yield on 700k is 35k per year which is enough to live well in much of the world.
- bornfreddy 2y agoReliable 5% yield while keeping the base the same value (rising with inflation)? Possible, but not without risk. And if you want to protect against that risk, i.e. accept that some investments will fail [0], you need a bigger amount, imho. Or accept that you will get less, not 35k per year. [0] https://finance.yahoo.com/quote/INTC/ https://finance.yahoo.com/quote/INTC/
- 999900000999 2y agoThat's a good point. But if I'm realistic with my own mortality I'd be happy if I reached 70. Assuming I retire at 40, and need to make 700k last 30 years, that's 23k per year with no yield. Even a modest 3% yield slows the burn rate so my money would still outlast me. Or I'll be 73 writing Python which might not be so bad...