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Retirement planning and goals

April 20th, 2022 at 03:14 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