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Mar. 5th, 2002

So, I just calculated my probable retirement situation. I did it pretty conservatively, assuming no defined-benefit assets and no especially high rate of return. Provided I get any social security benefit, I could be looking at 85% of my current salary! Woohoo!

Now, if social security total crumbles, which is entirely possible (and even likely) the number looks closer to 75%, but that's OK. Even taking into account a reasonable rate of inflation, as long as Eric and I can manage to have a mortgage at least 75% paid off by then, that will be enough to live pretty well.

I just have to keep contributing at the current rate, come hell or high water.

On my side: youth and a partner I can count on. OTOH: 35 years is a long time, and New York might be a smoldering crater by then. Ah, well. It's a good thing I'm pretty Type B about life. There's always the castle in the woods, right guys?

Comments

( 7 comments — Leave a comment )
eac
Mar. 5th, 2002 09:46 am (UTC)
See, responsible ol' Eva has never actually looked at this retirement thing.

You scare me.

:)
fenriss
Mar. 5th, 2002 11:09 am (UTC)
Eh. It's my job now, so I'm supposed to know about these things.
eac
Mar. 5th, 2002 11:35 am (UTC)
so how do you figure it out, anyway?
fenriss
Mar. 5th, 2002 12:21 pm (UTC)
There are scads of online retirement calculators. Here's one from Fidelity:

http://personal100.fidelity.com:80/fidbin/retirecalc?00

They rage from too simple to be useful to too complicated to use. I did mine on papper as an exercise, but I can't easily explain who I did it. Try this calculator, or do a search for other ones.
eac
Mar. 5th, 2002 12:51 pm (UTC)
hmm, yes, well, I'll be changing deductions to my 403B after the wedding...
joanarkham
Mar. 5th, 2002 10:50 am (UTC)
Our retirement plan:
We're going to buy a huge RV on credit, fill it with guns, ammo and booze, and see how far west we can get before dying in a hail of gunfire...
melanierose
Mar. 6th, 2002 07:08 am (UTC)
Re: Our retirement plan:
AWESOME!!!!

Can I come?

love, Melanie
( 7 comments — Leave a comment )

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