Retirement Targets
- Thread starter yowza
- Start date
Thanks for bringing that up - I hadn't thought of that. I see the rate is at 7% now through end of April, second highest rate in their history.
Same as you. I'm going to be looking into investing the 10,000 limit this month and again in January to max out for 2022 as well.
Moving some of savings that way myself. Picked up 10k for my wife, trying to get another 20k for myself & child. I had to fill out additional documentation at bank thru Treasury Direct that wife didn't so still waiting on approval (not sure why).
I would personally benefit from this. Hell, drop it to 55 and I can retire in a few years.
That said, anyone in congress that understands finance and math is likely to oppose it. As a nation, we probably can't afford to flip high earners in their 50's and 60's over to the pool of beneficiaries that take money out of the system. Remember, there is no max on medicare taxes. The bean counters need those taxes from high earners to keep the quasi pyramid scheme afloat.
I think we are more likely to see legislation that encourages people to continue working late into their 60's rather than encouraging early retirement. Although some of those issues touch on the 3rd rail.
H
Since you can only buy $5,000 electronically per person. How do you buy the second $5,000? I thought you had to use money received from tax filing/return to purchase the second $5,000?
I think you can do $10k. At least that's what I have scheduled for Monday to take out of my account.
How much in I bonds can I buy for myself?
In a calendar year, you can acquire:
In a calendar year, you can acquire:
- up to $10,000 in electronic I bonds in TreasuryDirect
- up to $5,000 in paper I bonds using your federal income tax refund
- The limits apply separately, meaning you could acquire up to $15,000 in I bonds in a calendar year
so for someone that hasn’t bought I bonds before, how do you go about doing that? Is there a website I can go to that has some good information/ details on I bonds?
I just opened an account today and this is pretty helpful. Just the use the info on how to create an account not which investment.
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I bonds — TreasuryDirect
This is the website you buy them thru as well.
When I set up my account, I needed to get a medallion stamp on some paperwork from a local bank and send it into a physical address. When I set up account for my wife, I did not.
Curious if anyone else had similar. Waiting for validation before I can open my account on there.
So much will change in 30 years if you are just in your twenties. If you are pretty aggressive savers and invest a little aggressive you should be able to tap out early.
Enough is relative really. Many people have used up their bodies by age 60, so it leaves almost no option. Lots of hard physical jobs out there yet I am thankful I did not have to do for decades.
Just means you are buying more shares per paycheck right now. If you don't need the $$ a down market is good.
I ain't workin' a day longer than I have to. 59 1/2. Target savings is $2 million.
That’s my wife and I’d target as well, should be perfectly comfortable as long as the mortgage is paid off, which it should be.
Curious what you will have as your asset allocation at that point? Could live a long time, so stay aggressive and adjust if a big downturn in any year or couple years?
