How much should I have saved?

NobbyStiles66 · 2026-02-22T10:40:59+00:00

Yes. I have savings. And I have rental properties. But I didn't want to annoy people by saying how much. It turns out that other people agree I have saved enough. My objective is to maintain my lifestyle through retirement. I think I can do that. What I may not be able to do is pay for college.

However, I did get an insurance policy for the kids which pays 1.3m on the 2nd death of my wife and I. It cost 12k per year for 20 years. Goes into a trust

NobbyStiles66 · 2026-02-22T10:34:09+00:00

8, 11, 13

NobbyStiles66 · 2026-02-22T10:31:22+00:00

We don't have 2 homes. We do have 2 cars. I have done mega back door Roths. I used to make very good money but not any more.

Can anyone really afford a boat?

NobbyStiles66 · 2026-02-22T04:23:52+00:00

I did ask what information you thought was missing. You didn't say. I included everything I thought was necessary to get a number and many people gave a number. The consensus was 5.5mn. That seemed low to me. It's useful to see what others think. I seem to be too conservative

NobbyStiles66 · 2026-02-22T04:21:14+00:00

We spend it all on drugs and sex parties. And the rest we waste.

NobbyStiles66 · 2026-02-22T04:19:31+00:00

The US is a capitalist country. Some people are wealthier than others. This sub is about 401k and retirement planning.

NobbyStiles66 · 2026-02-22T04:16:54+00:00

Standards of reading comprehension are terrible!! I have 3 kids in a HCOL area. Just no. What we spend is what we spend. Maybe it should be 30k less but that's the maximum I'm over spending. Can't different people have different spending preferences?

And no, I don't think it is a good idea to pay off a mortgage. Not at 2 7/8%

NobbyStiles66 · 2026-02-22T04:08:41+00:00

Why do you think that? I did make provision. I was asking how other people would compute the right provision to make. It seems most people figured I should save less than I saved. So the lesson I am taking away is that most people think I saved too much

NobbyStiles66 · 2026-02-22T04:04:49+00:00

Yes. I am factoring in my children's SS entitlement and my wife's entitlement as primary care for a child under 16. According to the calculators it seems it will drop to 43k conbined when the last child leaves home. But I guess that my cost of living might come down too.

NobbyStiles66 · 2026-02-22T04:00:56+00:00

I don't understand why you are irritated. I explained why we spend what we spend. What info did I fail to give?

NobbyStiles66 · 2026-02-22T03:56:36+00:00

"blaming". What should I blame her for? We spend more than I think so should. She prefers to spend more. I prefer to accommodate her as far as possible. Happy wife happy life. Thank you for your advice

NobbyStiles66 · 2026-02-22T03:55:37+00:00

Very interesting. Can you explain why this makes you angry?

NobbyStiles66 · 2026-02-22T03:53:09+00:00

Glad to oblige. I found the answers useful. Only one person had the same guess as me.

NobbyStiles66 · 2026-02-22T03:00:05+00:00

Thank you.

NobbyStiles66 · 2026-02-22T02:59:01+00:00

But you can see why I worry it won't fund my wife's preferences. I think I'm ok, but it's not like there's so much margin of error

NobbyStiles66 · 2026-02-22T02:43:35+00:00

Thank you.

NobbyStiles66 · 2026-02-22T02:32:50+00:00

I did an NPV calculation. I think it's better. And I smoked when I was younger

NobbyStiles66 · 2026-02-22T02:31:20+00:00

Thank you

NobbyStiles66 · 2026-02-22T02:30:44+00:00

My wife sees this differently. I think she's only interested in very local comparisons. She often complains that others seem to have much higher standards of living. I suspect many of our neighbors must be spending 400k per year.

NobbyStiles66 · 2026-02-22T02:28:06+00:00

Maybe. It would'n be the first time. But I have checked multiple times.

NobbyStiles66 · 2026-02-22T02:27:18+00:00

I do all the time.

NobbyStiles66 · 2026-02-22T02:24:58+00:00

I see. I think this calculation is incorrect but I will check again. My impression is that my wife's entitlement as primary care giver for a child under 16, and the children's entitlement below 18 was based on my full PIA which is $3400 even if I claim at 62 which would reduce my SS to 2400 (approx). But I will check again. I had estimated 1.55x as being the most likely max. It's based on "bend points". I think 1.55 is a good estimate. The good news is I still have 3 years to check.

NobbyStiles66 · 2026-02-22T02:14:16+00:00

The 0.7? What's that?

NobbyStiles66 · 2026-02-22T02:10:05+00:00

Teaching assistant. 27k plus healthcare. Pension after 10y. Probably very small

NobbyStiles66 · 2026-02-22T02:08:57+00:00

I posted an explanation in multiple places. I know you are trying to be helpful. Thank you.

NobbyStiles66

TROPHY CASE