Talking about worrying/planning of future
As an ordinary Chinese in the US ( might be a little bit better than average ), I am worrying about if we can retire at age 50.
Per my estimate, at age 50, we will have
1.2M in cash;
1M House paid off;
1.5M in 401K;
We will live on the cash until 65, thereafter 401k, SS, and pension will kick in, with
2.2M in 401K
3.5k/month from SS
4.5k/month from pension.
Please remmember this is for us to work unitl 50. We got all that by only worked 20 years!
I am not worrying about future at all, it can only get better and better. If we kept work until 65, I don't know what to do with all those money.