And this will get you like $1M at 45? You can’t retire on that.

0xbadcafebee 4 days ago | parent | next [-]

$1.8M-$2.2M. Assumes 6%-7.5% annual return. Does not include employer contribution. Provides $72k-$88k /yr income. Assuming you pull social security at 67, your continued gains exceed your draw, and your fund perpetuates until you die.

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hrimfaxi 4 days ago | parent [-]

If you retire at 45 won't that significantly impact social security?

	▲	0xbadcafebee 4 days ago \| parent [-]
		It just means you draw ~$2500/month instead of ~$3800/month. That makes your $77k/yr income into $107/yr, but more importantly it helps your retirement account keep growing so it outlives you.

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dwedge 4 days ago | parent | prev | next [-]

You can't live on $40,000 a year?

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gib444 4 days ago | parent [-]

What about property taxes, the occasional $40k visit to the ER for a few stitches?

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dwedge 4 days ago | parent [-]

Does that happen often to you?

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gib444 4 days ago | parent [-]

No - my hospital visits are £0 ;)