• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

Just looking at my vested benefits

R

Riprorin

Banned
I think I messed up by opting for the traditional retirement plan versus cash balance when I had the choice about 6 years ago.

If I work 5 more years at my company I get a lump sum of $188,000 or an annuity of $2,767/month starting 2025.

If I work 10 more years, I get a lump sum of 282,000 or an annuity of $2,574/month.

If I work 15 more years, I get a lump sum of $420,000 or an annunity of $3,770/month.

Man, this is depressing.

It's a good thing I've been saving for retirement since I graduated from college.
 
You've got to understand that when you're retired your expenses are lessened also. No need to travel to work every day. Taxes are also much lower on that smaller income.

 
Originally posted by: Squisher
You've got to understand that when you're retired your expenses are lessened also. No need to travel to work every day. Taxes are also much lower on that smaller income.
Click to expand...

Less to do = More time to spend money
 
Originally posted by: Skoorb
I think that's not bad, especially since you'll still get SS and whatever you've saved up!
Less to do = More time to spend money
Click to expand...
But most old people are REALLY boring.
Click to expand...

I think that this came from when they were raised. Most of those who are that age now were survivors of the depression. I have a feelign that our generation is going to be a bit more "liberal" with our money. 😛
 
If I keep investing in my 401k at the same rate I do now (30%, 5% matched) and continue to make the same amount I have since '97 (23.4% aveage) I will retire with 4.6 billion dollars at 65. Yes, that is a B. Actually, Assuming I screw up (which I will at some point 😛) I will probably end up with about 50 million. Yay me.

 
Originally posted by: Evadman
If I keep investing in my 401k at the same rate I do now (30%, 5% matched) and continue to make the same amount I have since '97 (23.4% aveage) I will retire with 4.6 billion dollars at 65. Yes, that is a B. Actually, Assuming I screw up (which I will at some point 😛) I will probably end up with about 50 million. Yay me.
Click to expand...

Assumed interest rate?
 

Originally posted by: Evadman
If I keep investing in my 401k at the same rate I do now (30%, 5% matched) and continue to make the same amount I have since '97 (23.4% aveage) I will retire with 4.6 billion dollars at 65. Yes, that is a B. Actually, Assuming I screw up (which I will at some point 😛) I will probably end up with about 50 million. Yay me.
Click to expand...

uh, huh?

 
Originally posted by: Evadman
If I keep investing in my 401k at the same rate I do now (30%, 5% matched) and continue to make the same amount I have since '97 (23.4% aveage) I will retire with 4.6 billion dollars at 65. Yes, that is a B. Actually, Assuming I screw up (which I will at some point 😛) I will probably end up with about 50 million. Yay me.
Click to expand...

ps. there is no way in hell unless you make some ungodly income
 
Originally posted by: OulOat
Originally posted by: Evadman
Originally posted by: OulOat
Assumed interest rate?
Click to expand...
Zero. It is not adjusted for future dollars.
Click to expand...

How about assumed annual rate of return?
Click to expand...

My personal historical is 23.4 since '97 not including this year. Including this year 17.6 Blech. This year sucks.

I just looked at my calculations, and the 6.4 billion was at the 29.1% I made last year not what I made historicly which was 23.4. My bad. it is actually only 900 million. If you count from when I started to right now as my historical (17.6%) then I would only have 137M, which is only worth 35M in today's dollars with a 3.1% inflation rate. Be aware, this does not take into account any IRS limits on what can go into your 401k. I am actually almost exactly at the yearly limit now, if it doesn't get raised, then I will not be anywhere near any of those figures.
Originally posted by: toekramp
ps. there is no way in hell unless you make some ungodly income
Click to expand...
No, but I started adding to my 401K when I was 16. That is the Time value of Money at work for you. Remember, it will grow at a geometric rate.
 
Well at least you have a job with benefits. I was laidoff from IBM since 2003. It has been hard for me to get a good job. Few contracts here and there. Now I have a job at small company, which sucks. NO benefits. No health..nothing. Just salary. I missed having all the nice benefits. Looking for another job now, hopefully that will be with a good establish company.
 
You must log in or register to reply here.

TRENDING THREADS

Back
Top