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Speak for yourself, not for me!!!!!
(and I know more than a few people who don't get 4 weeks off!)
I used to get 30-days of leave on the books each year. Unfortunately we were rarely allowed to use them. When I retired I had 90-days saved up. [and a stack of leave requests that had all been dis-approved]
I used to get 30-days of leave on the books each year. Unfortunately we were rarely allowed to use them. When I retired I had 90-days saved up. [and a stack of leave requests that had all been dis-approved]
Have the same problem... almost never allowed to take time off so I am one of the few to carry over vacation hours... company will cash them out for 50 cents on the dollar and they are taxed... so I would rather use them... someday.
Last edited by Ultrarunner; 08-25-2012 at 09:56 PM..
Location: where you sip the tea of the breasts of the spinsters of Utica
8,297 posts, read 14,195,631 times
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Quote:
Originally Posted by michgc
It would take about 95 years to reach $3M if you are putting away $100 per month at 5% interest, so you'd be 120. Change the interest to 10% and it would take about 54 years or age 79. Realistically, you'd need to put away more than $100 per month because you cannot count on 10% and 79 is too old anyway. If you did $500 per month at 8%, you'd reach your goal of $3M at about age 70. Feel free to double-check my math. It's late.
That's not quite what I had in mind ..... I meant reinvesting the interest each month so that it also earns 5% - I guess that's compound interest, plotted as a curve rather than a straight line.
Location: Chapel Hill, NC, formerly NoVA and Phila
9,782 posts, read 15,833,647 times
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Quote:
Originally Posted by Woof
That's not quite what I had in mind ..... I meant reinvesting the interest each month so that it also earns 5% - I guess that's compound interest, plotted as a curve rather than a straight line.
I'm still working when I could have retired in my late 50's because I actually like it a whole lot better when it's on my terms.
Just the feeling of going to work and knowing you don't have to do this makes everything so much more tolerable than when you're forced to go to work.
When I no longer like what I'm doing I'm done.
Excellent point. Just knowing you can leave makes a big difference. It means you can tell the truth about stuff without worrying about office politics or getting fired for speaking your mind. (I don't mean that in an obnoxious way, just in a 'straight shooter' kind of way). You might actually be more effective and productive in your job if you don't have the stress of office politics hanging over you.
If you are 23 and you want to retire at fifty, you have 27 years to figure it out. Within those 27 years, so many things will have changed such that thinking in the monetary amounts of today is completely useless. You have to start thinking in value amounts...and still it's tricky as value is also fluid.
The question isn't 'You need how much?' rather 'You need what?'...
i am 23 and would also like to partially retire at age 50. i would still want a part time job bartending two nights a week just to get out of the house for boredom purposes. i would like to save as much money as possible for retirement. as someone else has said, there are alot of factors/events that could change your circumstances in 27 years.
i am 23 and would also like to partially retire at age 50. i would still want a part time job bartending two nights a week just to get out of the house for boredom purposes. i would like to save as much money as possible for retirement. as someone else has said, there are alot of factors/events that could change your circumstances in 27 years.
Not just retirement, but for over a decade's worth of healthcare too (at probably $1000+ per month).
Not just retirement, but for over a decade's worth of healthcare too (at probably $1000+ per month).
well you know what i mean, you can split hairs if you'd like. i'll rephrase it, just save as much as possible, period
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Change the interest to 10% and it would take about 54 years or age 79. Realistically, you'd need to put away more than $100 per month because you cannot count on 10% and 79 is too old anyway. If you did $500 per month at 8%, you'd reach your goal of $3M at about age 70. Feel free to double-check my math. It's late.
