How old are you? 30 years old?
It sounds to me that you are not worried about your job or other things but too much money when you retire. I guess you must be very young at the moment. Before I could analyze your case, there are couple of things we need to talk about:
1. When you talk about the money or cash, are you talking about present value (PV) or future value? For example If you are 30 years old and the average inflation rate is about 4% in the next 20 years, 1.2M worth only about 547K PV when you retire.
2. If your house worths about 1M (still true this year?) now, God knows how much it will worth in 20 years. Keep this in mind, your property value consists of two parts: the house value and the land. The house value will depreciate year after year and your property value will mainly depend on the values of the house itself, your land, and the location. Too early to predict the value of your property but it could worth much more or much less than 1M PV depending on the situations.
3. Sounds like you have excellent job, based on my limited knowledge few jobs have both 401k and pension now. Lucky you! Could you share this information with us? Hope you will continue to be lucky in the next 20 years or so.
4. Don't rely too much on SS money, no one knows how much SS money you will get when you retire.
5. If you are still 30, it's way too early to talk about 65 because no one knows what gonna happen in 35 years.
Good luck!
It sounds to me that you are not worried about your job or other things but too much money when you retire. I guess you must be very young at the moment. Before I could analyze your case, there are couple of things we need to talk about:
1. When you talk about the money or cash, are you talking about present value (PV) or future value? For example If you are 30 years old and the average inflation rate is about 4% in the next 20 years, 1.2M worth only about 547K PV when you retire.
2. If your house worths about 1M (still true this year?) now, God knows how much it will worth in 20 years. Keep this in mind, your property value consists of two parts: the house value and the land. The house value will depreciate year after year and your property value will mainly depend on the values of the house itself, your land, and the location. Too early to predict the value of your property but it could worth much more or much less than 1M PV depending on the situations.
3. Sounds like you have excellent job, based on my limited knowledge few jobs have both 401k and pension now. Lucky you! Could you share this information with us? Hope you will continue to be lucky in the next 20 years or so.
4. Don't rely too much on SS money, no one knows how much SS money you will get when you retire.
5. If you are still 30, it's way too early to talk about 65 because no one knows what gonna happen in 35 years.
Good luck!
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