I am 46, single, no kids. I am a health care professional. I feel that I'm generally a very good saver and a not so good budgeter - hence the credit card debt payoff I worked through in 2020.Today when my retirements accounts were updated I had surpassed my $200,000 goal. I am very excited. My next goal will be $250,000 or a quarter of a million dollars. I like typing out "million". I am sure that if I stay diligent with my savings that I will one day reach one million dollars saved.
Milestone Reached
December 15th, 2010 at 07:24 pm
December 15th, 2010 at 08:57 pm 1292446676
December 15th, 2010 at 09:06 pm 1292447194
Are you familiar with the Rule of 72? If you enjoy an average return of 7%, your money will double about every 10 years. You're 32, you have time for your money to double 3 more times before you reach 65 or so. Your 200k would turn into 1.6 million, with no additional contributions.
If I were you, I would make certain I had a reasonable asset allocation plan, and that I was keeping my costs as low as possible.
December 15th, 2010 at 09:21 pm 1292448102
December 16th, 2010 at 01:56 am 1292464575
December 16th, 2010 at 02:18 am 1292465899
Petunia, my retirement accounts are split between my Thrift Savings Plan and my Roth IRA at Vanguard. Both have very low expense ratios. I'm fairly aggressive with my investments as I also plan to have a pension and maybe Social Security - if it's still around.