40 - 33 = 7 yearsRight now im investing like 70-80 percent in total us market index and 20 in international, 10 percent in bonds. My 401k is 18 percent of paycheck. I just want to hit 1 million quickly hopefully before i am 40 years old. I guess for me it would be more like a small goal has been reached.
$1,000,000 - $285,000 = $715,000
$1,000,000 ÷ $285,000 = 3.5
Not saying you can't do it, but don't beat yourself up if accumulating $715k over 7 years, or multiplying your investments by a factor of three and a half, doesn't quite happen. That's a lot to ask of both savings rate and growth rate.
Could ypu do it by essentially saving half your gross pay $70k and counting on your asset allocation to deliver the rest? Yeah if we got a repeat of the last 7years. But we may do better, may do worse with the next 7.
Statistics: Posted by one_speed — Mon May 13, 2024 4:32 pm — Replies 18 — Views 2462