TyperMcTyperson OP t1_jef3eek wrote on March 31, 2023 at 3:32 PM

Reply to comment by petrock85 in Do I stand a chance at a decent retirement given where I currently am? by TyperMcTyperson

But retiring with my current balance wouldn't be what I consider at decent retirement lifestyle. That would be like $20k a year at the 4%. How can anyone live on that even if they have no mortgage. Let alone travel or have hobbies.

telionn t1_jefekx6 wrote on March 31, 2023 at 4:45 PM

Your current balance should balloon to over 1.5 million by age 65 if you don't touch it.

alwayslookingout t1_jefspes wrote on March 31, 2023 at 6:17 PM

But you’re nor retiring today with your current balance- you’re retiring in 20 years. Additionally, 60% (~$109K) of your current salary is a lot. If you’re hoping to spend up to that much without a mortgage then you need to save up a lot more.