Stairway to the sky


It is clear that the plan is not to retire at 65, we have already talked about this, for me the form is the countdown, which helps me think about moving towards the main objective. In short, the plan is to cut back from the retirement age to go down:

-Age of retirement: 65
-Minimum retirement age: 62 (in the USA, the first time you can apply for social security)
– Minimum age to touch the savings: 59.5
– Minimum age to touch the savings if you retire in that year without penalty: 55

From 55 below, everything you have to cover with the savings you have accessible after taxes, but I think the concept is clear. . .

Little by little you´ll get there . . .

Increments to move forward in retirement


For next year have increased the amount that can be saved as tools for retirement, you can see more info here:

-401k / 403b / 457: from 18,500 to 19,000
-Roth: from 5,500 to 6,000

More even if you are over 50 years old. This will help us get there earlier because it also implies a saving in taxes, since it reduces the amount to be declared.


Some numbers


If you did not have a retirement plan at work, the monthly change is this:

2018: $ 1,541 —— 2019: $ 1,583

The increase is $ 41.66 a month, that’s nothing and we will come very well.

And if you increase the Roth:

2018: $ 458 ——– 2019: $ 500

The increase is $ 42 a month, that’s nothing and it’s going to come very well too.

In the end, they are less than $ 100 a month and if you do it automatically you almost do not even notice it.

Each bit contributes, do not forget. . . closer and closer each time.

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