You’re probably not doing too badly–but so much depends on your dependents, the lifestyle you want in retirement, whether or not Social Security and (especially) Medicare will exist in 20 years, etc.

One thing I would suggest is to pull up one of the many retirement savings calculators that are online and run your numbers.

You’re probably not doing too badly–but so much depends on your dependents, the lifestyle you want in retirement, whether or not Social Security and (especially) Medicare will exist in 20 years, etc.

One thing I would suggest is to pull up one of the many retirement savings calculators that are online and run your numbers.

Agree with cvmom. There are some good retirement calculators out there… some are pretty in depth about *all* sources of income (including possible rental income, pensions, etc.) Others are very superficial.

I obsess about retirement. Seriously obsess. Constantly running “what if” calculations. My favorite tool is one built into quicken. But you have to buy quicken to get it.

Here are some calculators and sites I like:

decent overview article:
http://money.cnn.com/2002/12/16/pf/expert/ask_expert/index.htm

SS estimator:
http://www.socialsecurity.gov/OACT/anypia/index.html

retirement calculators:
http://cgi.money.cnn.com/tools/retirementplanner/retirementplanner.jsp

https://www3.troweprice.com/ric/ricweb/public/ric.do

http://www.schwab.com/public/schwab/planning/retirement/retirement_savings_calculator

https://personal.vanguard.com/us/insights/retirement/saving/set-retirement-goals

https://personal.vanguard.com/us/insights/retirement/retirement-tools
(calculator is pretty lame. no variables)

Also to consider… you talk about your net worth, all in. I assume that includes equity in your home. Do you plan to sell the home at retirement, or still live there? Some people plan on downsizing, or selling and renting. Others plan on retiring in place. You need to adjust accordingly. Personally, I plan on retiring where I am, so I do *not* include my home equity in my retirement calculations. I need the shelter more than the equity.

Agree with cvmom. There are some good retirement calculators out there… some are pretty in depth about *all* sources of income (including possible rental income, pensions, etc.) Others are very superficial.

I obsess about retirement. Seriously obsess. Constantly running “what if” calculations. My favorite tool is one built into quicken. But you have to buy quicken to get it.

Here are some calculators and sites I like:

decent overview article:
http://money.cnn.com/2002/12/16/pf/expert/ask_expert/index.htm

SS estimator:
http://www.socialsecurity.gov/OACT/anypia/index.html

retirement calculators:
http://cgi.money.cnn.com/tools/retirementplanner/retirementplanner.jsp

https://www3.troweprice.com/ric/ricweb/public/ric.do

http://www.schwab.com/public/schwab/planning/retirement/retirement_savings_calculator

https://personal.vanguard.com/us/insights/retirement/saving/set-retirement-goals

https://personal.vanguard.com/us/insights/retirement/retirement-tools
(calculator is pretty lame. no variables)

Also to consider… you talk about your net worth, all in. I assume that includes equity in your home. Do you plan to sell the home at retirement, or still live there? Some people plan on downsizing, or selling and renting. Others plan on retiring in place. You need to adjust accordingly. Personally, I plan on retiring where I am, so I do *not* include my home equity in my retirement calculations. I need the shelter more than the equity.

Agree with cvmom. There are some good retirement calculators out there… some are pretty in depth about *all* sources of income (including possible rental income, pensions, etc.) Others are very superficial.

I obsess about retirement. Seriously obsess. Constantly running “what if” calculations. My favorite tool is one built into quicken. But you have to buy quicken to get it.

Here are some calculators and sites I like:

decent overview article:
http://money.cnn.com/2002/12/16/pf/expert/ask_expert/index.htm

SS estimator:
http://www.socialsecurity.gov/OACT/anypia/index.html

retirement calculators:
http://cgi.money.cnn.com/tools/retirementplanner/retirementplanner.jsp

https://www3.troweprice.com/ric/ricweb/public/ric.do

http://www.schwab.com/public/schwab/planning/retirement/retirement_savings_calculator

https://personal.vanguard.com/us/insights/retirement/saving/set-retirement-goals

https://personal.vanguard.com/us/insights/retirement/retirement-tools
(calculator is pretty lame. no variables)

Also to consider… you talk about your net worth, all in. I assume that includes equity in your home. Do you plan to sell the home at retirement, or still live there? Some people plan on downsizing, or selling and renting. Others plan on retiring in place. You need to adjust accordingly. Personally, I plan on retiring where I am, so I do *not* include my home equity in my retirement calculations. I need the shelter more than the equity.

[quote=UCGal] Personally, I plan on retiring where I am, so I do *not* include my home equity in my retirement calculations. I need the shelter more than the equity.[/quote]

What about retiring in Italy? That’s a nice retirement location.

[quote=UCGal] Personally, I plan on retiring where I am, so I do *not* include my home equity in my retirement calculations. I need the shelter more than the equity.[/quote]

What about retiring in Italy? That’s a nice retirement location.