Retirement without passive income

[FrustratedVuncle]

401k withdrawl:

If we start contributing to 401k from age 30, and do max out 23,000/yr until age 67 we will have $3,687,772.47 saved in 401k at 7%(Standard growth) ROI every year. 

We can withdraw 4% per year from $3,687,772.47, which is 147510.8988/yr, we are still leaving the 3.6M grow at 3%.

The current value of $147,510.90 per year in 2061, adjusted for 3% inflation over 37 years, would be approximately $49,413.63 in today's dollars.

 

Social security benefits pay:

For a single individual with an average $100,000 salary and retiring at age 67:

• Estimated Monthly Benefit: $2,100 - $2,500
• Estimated Annual Benefit: Approximately $25,200 - $30,000 per year

Good thing about social security benefit pay is its adjusted to inflation so, we will get current market value at retirement. 

 

So going with this plan a single income family can get approximately 79k/yr at age 67 in todays dollar value, in spite of no passive income. 

A working couple can double it by doing the same individually which is 158k/yr.  Or can keep it simple and get 49k (401k) + 60k (ssn) = 109k/yr.

Its not going to be easy given ups and downs in life. But its doable. 79k tho without kids responsibility easy ga survive avvochu. ee laddu lo investments, real estate ani stress padakunda. Emantav sodhara...

[lollilolli2020]

ivanni benefits nuvvu 67yrs varaku bathiki vunte; neeku vunna frustrations ki anni rojulu nettuku ragalava uncle ??

[Android_Halwa]

Iyanni bane vunayi kaka…kani oka 2-3 uncertainity incidents which are beyond our control vuntayi, vaati gurinchi kida alochinchali kada..

1. Nuv 65 varaku bratike vuntava ? 
2. continous job until retirement varaku assurance vunda ?

3. Ie lavadala investments and risks manakenduku, haiga 401k la esi tini tingundam 65 varaku anukuntav kani 50 tarvata udyogam chese situation ledanuko, apudu mana situation enti ?

4. Suppose…irraru poragallu vunare anuko. Valla saduvulaki fees kattura ante nenu retire ayevaraku agu ra vaari ante vallu agutaru antava ?

Nenu seppedi endi ante, ie 401k lu nuv nee pellam retire ayinaka inti inti ki tirugukuntu amma, ayya…ani adukkovalsina situation vundakunda panikostadi…

Mari appati varaku zingadi naduvalante ipudu invest chesthe ne kada ayedi…

[FrustratedVuncle]

1 minute ago, lollilolli2020 said:

ivanni benefits nuvvu 67yrs varaku bathiki vunte; neeku vunna frustrations ki anni rojulu nettuku ragalava uncle ??

Life expectancy is increasing anna with advancements in medical tech. Living long is a choice of life ani na yokka idhi.  

[no01]

15 minutes ago, FrustratedVuncle said:

Life expectancy is increasing anna with advancements in medical tech. Living long is a choice of life ani na yokka idhi.  

long life ki high expense kuda add avthadi mari......coming yrs lo diabetes, heart relate ailments, cancer related and respiratory issues baane vasthai....and yes medical tech might help you survive all these ailments but imagine the cost.

[Bitcoin_Baba9]

3 minutes ago, no01 said:

long life ki high expense kuda add avthadi mari......coming yrs lo diabetes, heart relate ailments, cancer related and respiratory issues baane vasthai....and yes medical tech might help you survive all these ailments but imagine the cost.

Antey Inni rogala tho emuntav, mundhe po ani chepthunnava Frustrated Vuncle ki

[usetime63]

1 hour ago, FrustratedVuncle said:

Life expectancy is increasing anna with advancements in medical tech. Living long is a choice of life ani na yokka idhi.  

A choice of life kavali antey millions spend cheyali, ikkada living ke lekkalu esavu ,a choice undi antava asalu. 

[FrustratedVuncle]

1 hour ago, Android_Halwa said:

Iyanni bane vunayi kaka…kani oka 2-3 uncertainity incidents which are beyond our control vuntayi, vaati gurinchi kida alochinchali kada..

1. Nuv 65 varaku bratike vuntava ? 
2. continous job until retirement varaku assurance vunda ?

3. Ie lavadala investments and risks manakenduku, haiga 401k la esi tini tingundam 65 varaku anukuntav kani 50 tarvata udyogam chese situation ledanuko, apudu mana situation enti ?

4. Suppose…irraru poragallu vunare anuko. Valla saduvulaki fees kattura ante nenu retire ayevaraku agu ra vaari ante vallu agutaru antava ?

Nenu seppedi endi ante, ie 401k lu nuv nee pellam retire ayinaka inti inti ki tirugukuntu amma, ayya…ani adukkovalsina situation vundakunda panikostadi…

Mari appati varaku zingadi naduvalante ipudu invest chesthe ne kada ayedi…

Ammo flight ekkithe crash avakunda digutama ani ekkakunda unte nuvvu ikkada ee position lo undevadiva?

Oka plan or idea chepthe most of the ppl immediately think negatively or ways to fail. 

Nenemantunna ante If you have a financial plan then your spending choices changes. Nenu Job vachina kottalo casinos, dating, cars, foris, massages antu istam vachinattu money spend chesanu. If I knew the information that I know now by then I would have bit more responsible with spending. 

65 varaku brathiki untama, job continuous ga untada ante em cheptham. Masters ki vache students h1b pick avtunda, job lu vastaya ani agiporuga. Hope. mana prayatnam cheddam aa paina devudi daya ante.

401k meda nammakam unnollu, contribute cheyagalginollu cheskunte ila untundi ani cheptunna anna. 

[FrustratedVuncle]

55 minutes ago, Bitcoin_Baba9 said:

Antey Inni rogala tho emuntav, mundhe po ani chepthunnava Frustrated Vuncle ki

oooko anna, nannu ante ninnu annattu kada? Andarni katta kattukuni mhmmm antunnadu aa anna  

[FrustratedVuncle]

13 minutes ago, usetime63 said:

A choice of life kavali antey millions spend cheyali, ikkada living ke lekkalu esavu ,a choice undi antava asalu. 

Nenem annanu, nekem ardam ayndi, nuvvem adigav? clarity missing anna.

Monthly expenses ani evo lekkalu vesi unta. Living long is a choice of life IMO, meaning living healthily which doesn't cost much. aa paina devudi daya

[papampasivadu]

10 minutes ago, FrustratedVuncle said:

Ammo flight ekkithe crash avakunda digutama ani ekkakunda unte nuvvu ikkada ee position lo undevadiva?

Oka plan or idea chepthe most of the ppl immediately think negatively or ways to fail. 

Nenemantunna ante If you have a financial plan then your spending choices changes. Nenu Job vachina kottalo casinos, dating, cares, foris, massages antu istam vachinattu money spend chesanu. If I knew the information that I know now by then I would have bit more responsible with spending. 

65 varaku brathiki untama, job continuous ga untada ante em cheptham. Masters ki vache students h1b pick avtunda, job lu vastaya ani agiporuga. Hope. mana prayatnam cheddam aa paina devudi daya ante.

401k meda nammakam unnollu, contribute cheyagalginollu cheskunte ila untundi ani cheptunna anna. 

aa halwa gadu poddhunna legisina daggara nunchi negativity lone bathukuthaadu....aadi bathuke negative....lite teesko...

[papampasivadu]

1 hour ago, FrustratedVuncle said:

401k withdrawl:

If we start contributing to 401k from age 30, and do max out 23,000/yr until age 67 we will have $3,687,772.47 saved in 401k at 7%(Standard growth) ROI every year. 

We can withdraw 4% per year from $3,687,772.47, which is 147510.8988/yr, we are still leaving the 3.6M grow at 3%.

The current value of $147,510.90 per year in 2061, adjusted for 3% inflation over 37 years, would be approximately $49,413.63 in today's dollars.

 

Social security benefits pay:

For a single individual with an average $100,000 salary and retiring at age 67:

• Estimated Monthly Benefit: $2,100 - $2,500
• Estimated Annual Benefit: Approximately $25,200 - $30,000 per year

Good thing about social security benefit pay is its adjusted to inflation so, we will get current market value at retirement. 

 

So going with this plan a single income family can get approximately 79k/yr at age 67 in todays dollar value, in spite of no passive income. 

A working couple can double it by doing the same individually which is 158k/yr.  Or can keep it simple and get 49k (401k) + 60k (ssn) = 109k/yr.

Its not going to be easy given ups and downs in life. But its doable. 79k tho without kids responsibility easy ga survive avvochu. ee laddu lo investments, real estate ani stress padakunda. Emantav sodhara...

maxing out 401k is a good idea but side lo oka non-registered brokerage account maintain chesi daniki kuda contribute chestaa undadam better....emergency purposes lo without penalties withdraw cheskuni use cheskodaniki untaay....

 

[FrustratedVuncle]

7 minutes ago, papampasivadu said:

maxing out 401k is a good idea but side lo oka non-registered brokerage account maintain chesi daniki kuda contribute chestaa undadam better....emergency purposes lo without penalties withdraw cheskuni use cheskodaniki untaay....

 

ante robinhood lantide ga?

[usetime63]

11 minutes ago, FrustratedVuncle said:

Nenem annanu, nekem ardam ayndi, nuvvem adigav? clarity missing anna.

Monthly expenses ani evo lekkalu vesi unta. Living long is a choice of life IMO, meaning living healthily which doesn't cost much. aa paina devudi daya

Oh ala vachava, I thought medical ga manam too progressive that machines evo petti longer life untadi due to technology ane anukunna. 

 

[papampasivadu]

1 minute ago, FrustratedVuncle said:

ante robinhood lantide ga?

yep...alantidhe...i prefer charles schwab but anything is fine, concept same...

Canada has something called TFSA, eppudaina withdraw cheskovacchu.....but US lo aa concept ledhu, closest is Roth-IRA but andhullo withdrawals certain age lopu cheste penalties padathay...

so private brokerage account ee gathi...or else treasury direct account open cheskuni treasury bonds konukkunta avi mature aynappudu alla rotate and reinvest cheskuntaa undadame....naku telsi federal bonds ki federal income tax undadu and depending on the state you live, state taxes kuda undaka povacchu....5% per annum gittubatu avuddhi rough ga