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Home > Still here! Retirement benchmarks?

Still here! Retirement benchmarks?

October 2nd, 2018 at 12:40 pm

Couldn't believe my log on still worked!

My husband and I are 34 and 36 now with two girls. Wow, time flies.

Just wondering what everyone is using as retirement benchmarks. We hit 1.5x annual income in retirement by our average age of 35 but I'm wondering what our benchmark should be by 40?

I KNOW I KNOW, everyone's different, but I'm wondering what rule of thumb some of you have used on here?

Thanks so much!! So glad my account still works!! Smile

3 Responses to “Still here! Retirement benchmarks?”

  1. MonkeyMama Says:
    1538482209

    This is a good rule of thumb, for the average person:
    Text is https://www.businessinsider.com/how-much-you-should-have-for-retirement-savings-2016-3 and Link is
    https://www.businessinsider.com/how-much-you-should-have-for...
    I personally aim to be one decade ahead of any reasonable retirement or wealth benchmarks. So at age 40, I am at the "age 50" benchmark and goal.

  2. ceejay74 Says:
    1538514265

    This is what I'm going for, though I've been told by other SAers (and MonkeyMama's link agrees) that it isn't enough.
    2x annual salary by 40
    3x by 45
    4x by 50
    5x by 55
    6x by 59
    7x by 63
    8x by 67
    One partner is 5 years younger so I'm figuring it out per person and then coming up with total benchmark goals for every 5 years, if that makes sense. So for instance, our upcoming incremental goal aims to get me and NT to 3x our salaries and AS to 2x hers by March 2019 (when I'll turn 45, NT 46 and AS 40). The funds don't have to divide out that way, but our total funds should equal 3x my and NT's and 2x AS's salary by March 2019.

  3. guppy Says:
    1538565189

    Thank you both! This is great information. Honestly I thought we were doing much better than what the businessinsider chart shows. We've always contributed around 10% to retirement (combination employer and us) but it gets confusing since much of my contribution goes to a pension and in recent years my husband lost his employer match. Thank you for the info, I'll try to work this into my spreadsheet and see how we can improve things.

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