Retirement without passive income

[k2s]

4 hours 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...

good post! 
Appatiki no mortgage and will have equivalent medical insurance premiums

[FrustratedVuncle]

19 minutes ago, Konebhar6 said:

If possible a summary?

 

[k2s]

2 hours 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....

 

 

2 hours ago, FrustratedVuncle said:

ante robinhood lantide ga?

daniki Roth IRA account undi ga ! 

[k2s]

23 minutes ago, papampasivadu said:

roth ira, you still have to wait until you reach 59.5 yrs ga...lekapothe 10% penalty estaadu

after 5 yrs contributions can be withdrawn from ROTH IRA ! 

 

[Tellugodu]

2 hours ago, FrustratedVuncle said:

5% per annum kinda low. oka 7% - 10% is decent. 
I am investing in S&P 500 every 500/mo for now. Its doing good.

Also look at QQQM bro, this tracks Nasdaq index and gives you the boost needed for long term wealth generation. 

 

[Tellugodu]

This guy is trying to create videos on financial planning for USA Telugu desis, some seems to be worth, especially 401k guide and overview over nuclear energy sector. Check out if you are interested @FrustratedVuncle
 

 

[lollilolli2020]

20 hours ago, dreamchaser said:

Enduku Ravu bro.with 100k average salary to oka 50 employees (20% commission) 1million per year

not all the times you can have 50 employees with 100K average salary on your payroll generating. 

 

[Bitcoin_Baba9]

10 minutes ago, lollilolli2020 said:

not all the times you can have 50 employees with 100K average salary on your payroll generating. 

 

Assalu 50 employees avvali antey entha time invest cheyyali, enni closings cheyyali, entha mandhi ninnu trust chesi ravali it all takes lot of time. And iyyala repu students kooda 80-20 ki work cheyyadaniki ready leru as there are 4-5 IT consulting firms registered in each street (desi neighborhoods lo). Andhariki IT consulting easy peasy money anukuntaru. Vendors nundi pay raakunda payroll chese time ochinappudu gotilu shake avuthai

[lollilolli2020]

1 minute ago, Bitcoin_Baba9 said:

Assalu 50 employees avvali antey entha time invest cheyyali, enni closings cheyyali, entha mandhi ninnu trust chesi ravali it all takes lot of time. And iyyala repu students kooda 80-20 ki work cheyyadaniki ready leru as there are 4-5 IT consulting firms registered in each street (desi neighborhoods lo). Andhariki IT consulting easy peasy money anukuntaru. Vendors nundi pay raakunda payroll chese time ochinappudu gotilu shake avuthai

mana desi gallatoh daridram ide. end result ni chusi easy ga implement cheyochu ani anukuntaru but they don't know how many things are involved. child birth analogy chepdam ani anukunna but ebbettuga vuntadi ani lite tesukunna.