Retirement Nest Egg Target

[TJKansai]

Some of you may be saving for two, others not, so if you are saving with another person divide your nest egg in half.

Let's exclude the value of primary residence, but do include investment properties.

[RetireJapan]

Not so much a target as much as a prediction

[goodandbadjapan]

I chose 50 - 99 but only because if I were single I would be happy on about 90 (and paid-off house). However, I don't think saving for two requires double the savings (due to shared utilities etc) and so as a pair I'll actually probably be comfortable enough on 100 and a paid-off house. I'll probably go for a bit more than that as it seems within reach, but that's really just padding. For those in couples who chose 100 - 200 or more - is that really half of what you hope to get? In other words, at least 200 - 400 as a couple?

[RetireJapan]

For those in couples who chose 100 - 200 or more - is that really half of what you hope to get? In other words, at least 200 - 400 as a couple?

Just looking ahead 2-3 decades and considering what happened to our assets over the last 15 years...

It seems likely that we'll end up with far more money than we need. We're almost at a point where we could retire now, but will continue running our school and doing freelance stuff for now, so even if tone down our investing we're not likely to touch our investments for a while.

It's kind of encouraging.

So it's not that we want or need that much, just that we're likely to end up with it. No pressing need to stop working just yet.

[goodandbadjapan]

For those in couples who chose 100 - 200 or more - is that really half of what you hope to get? In other words, at least 200 - 400 as a couple?

Just looking ahead 2-3 decades and considering what happened to our assets over the last 15 years...

It seems likely that we'll end up with far more money than we need. We're almost at a point where we could retire now, but will continue running our school and doing freelance stuff for now, so even if tone down our investing we're not likely to touch our investments for a while.

It's kind of encouraging.

So it's not that we want or need that much, just that we're likely to end up with it. No pressing need to stop working just yet.

Ah ok - I was looking more at a target as in what we think we need to have a comfortable retirement. But yes, if things carry on as they have done (no guarantees, I know!) it's amazing to think what could happen! In my mind I sort of have a very lean FIRE, an okayish FIRE and a comfortable FIRE number. We hit the first last year and should hit the second next month, but we are going to carry on working for a bit yet so hopefully won't touch any investments for a good few years. And I wouldn't be anywhere near this situation if it hadn't been for this site! So, again, thanks!

[TJKansai]

For those in couples who chose 100 - 200 or more - is that really half of what you hope to get? In other words, at least 200 - 400 as a couple?

Just looking ahead 2-3 decades and considering what happened to our assets over the last 15 years...

It seems likely that we'll end up with far more money than we need. We're almost at a point where we could retire now, but will continue running our school and doing freelance stuff for now, so even if tone down our investing we're not likely to touch our investments for a while.

It's kind of encouraging.

So it's not that we want or need that much, just that we're likely to end up with it. No pressing need to stop working just yet.

It might have been better to suggest taking 60-70% of the nest egg for couples, rather than 50%.

When travelling my expenses are close to double if with another person. At home the expenses are probably only 20% higher. That said, healthcare in the later stage of life can change the dynamic greatly.

The main idea is to see what people feel comfortable with before pulling the retirement trigger.

[TJKansai]

Ah ok - I was looking more at a target as in what we think we need to have a comfortable retirement. But yes, if things carry on as they have done (no guarantees, I know!) it's amazing to think what could happen! In my mind I sort of have a very lean FIRE, an okayish FIRE and a comfortable FIRE number. We hit the first last year and should hit the second next month, but we are going to carry on working for a bit yet so hopefully won't touch any investments for a good few years. And I wouldn't be anywhere near this situation if it hadn't been for this site! So, again, thanks!

I totally agree that FIRE means many things to many people. Some retire and hit the road and live in a camper 300 days a year, others want a massage everyday and move to Bali...

Need vs want, and "comfortable" are so subjective, so it is hard to make real comparisons without hour-long interviews.

One person traveling may need a 3 star hotel (SWMBO), another just wants a hot shower (yours truly).

We are floating between okayish and comfortable, but with kids in school can't go anywhere yet, so might as well earn.

[RetireJapan]

Not surprising, but nice to see that users of this forum are or hope to be in pretty solid financial situations

[mighty58]

I would suggest housing is a big factor in the ultimate number. I picked 100-200, leaning towards the upper end of that, simply because of my mortgage, which most likely won't be paid off before I can/will retire. If I did have paid-off housing, I could retire with significantly less.

[Bubblegun]

I suppose hitting our targets depends on the time on the market and cash freedom to put in.

I was wondering what % of salary is everyone putting away or are most people just choosing a sum they can afford?
By my calculations, we appear to be putting away 10% for us, and 5% each for the kids. The kids we set as a fixed sum, and ours we decided on what we could afford.
I would like to aim higher but I know, that the lump sum would require sacrifice on the partners side and I know they're not prepared to do that.
So,I have to set my own monthly saving target and see where that lands "US" in say 14 years. Sadly my endowment sucks,( thank you mis-selling),but that will be reinvested once it comes in. Sadly I know I probably won't hit that target as she seems to be putting money away for kids 1 and 2.
Anyway doing something is better than nothing. I just wonder how well my IDECO and NISA fund will do over 14/15 years.

I've also not taken into account the UK pension which in a way is a kind of investment many expects ignore.