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Retirement planning and goals

April 20th, 2022 at 04:14 pm

Well, I wrote what I thought was a nice blog entry on my investing and retirement goals but it did not save/post so I will try again. 

In this post, I will discuss our various retirement accounts and our investing strategies (hopefully it does not bore people!)😁 Again, we both will be retiring in 5-7 years which will put us at ages 57-60. What are our retirement goals? Well we are trying to figure that out. It will include some travel, some volunteer work, and some paid income (to have interactions with people and some sort of schedule). What will it take to be comfortable in retirement? For us we are still figuring that out, although we do know it is more than we have now, especially as we started late!

Retirement Accounts:

State Pension - Her should be about 40K

457 - Her currently 130K (managed by vendor) currently adding 500/check 

State Pension - Me should be about 30K (would be more but I will not have 30 years and not be 62 at retirement so there are some penalties)

403b - Me currently 140K (managed by vendor) currently adding 500/check

Roth - Me currently 12K (Vanguard Target Date Fund) will be adding until retirement

Acorns Roundup - Both 1K Just a just another way to save some money. I am on the legacy fee structure so cost is minimal. I like it as we buy stuff that we normally would it is just rounded up and added to an ETF. Basically set it and forget it! Just a simple way to save some dollars for later use.

Robihood Brokerage account - Both 19K We started this in Nov 2021 to build a dividend based account to have another stream of income in retirement. As of now, all dividends are put back into the stocks they come from. I do have a couple of non dividend payers in the mix but other wise it has been a good use of our dollars. 

Robinhood notes: I know Robinhood gets a bad rap based on the meme stocks, day trading, etc.. But I will say I like the ease of use and the fact that I am not a day trading, it works well for me.

Dividend goals:

1) Get dividents to 100/quarter (Q1 of 2022 105.67)

2) get dividends to 100/month average

3) get dividends to 500/ quarter

4) get dividends to 500/month

5) get dividends to 10K/year (lofty goal considering our timeline but it is a goal none the less!)


I think that about sums up stuff for today. Will blog again soon

4 Responses to “Retirement planning and goals”

  1. LuckyRobin Says:

    If it takes you too long to write your post it won't post it, but if you use the back arrow you can usually get right back to it and send it again, then it will post. But it is never a bad idea to highlight and copy in case you have had a few seconds internet outage, or the back arrow trick doesn't work, because then it won't go back to the create new entry page. And too long writing is about 5 minutes, which is ridiculous. One of the many things about the blogs that the owners can't seem or don't want to fix.

  2. terri77 Says:

    I have lost a few long entries myself. It is frustrating!

  3. ceejay74 Says:

    I think you'll find that the folks on here never get bored when it comes to talking about personal finance! :-) It's been so great over the years because there are things my friends and family are just not interested in, or it's too sensitive a topic to share actual numbers with them.

    I'd never thought about early retirement before the pandemic, but my priorities and outlook have shifted pretty drastically. I started or ramped up creative pursuits that are now more appealing to me than my job, so I'm looking for an exit! I'm really fascinated by the Coast FIRE concept, where we get our retirement accounts to a place where we're confident they'll keep growing to retirement, and then we can scale back our work so we just have enough to cover living expenses (vs. pouring thousands into retirement every month).

  4. rob62521 Says:

    I think we have all had lost posts, so I always copy mine before I try to publish.

    As you will find, we have lots of people who have read and been through a lot and can usually give you some sound advice.

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