A Reddit user has seen her income rise from $250K to $450K and is evaluating retirement savings. At 41, with a husband earning $80K and two young kids, they have $750K saved for retirement and face college expenses. Her goal is $200K per year in retirement income, requiring a nest egg of about $5.4M if she opts for a conservative withdrawal rate of 3.7%. The user is challenged to strike a balance between retirement savings and her children's education funding.
To retire comfortably with a target of $200K in annual spending, the user needs a nest egg of about $5.4 million at age 60 using a conservative withdrawal rate.
Her current savings of $750K might not be enough to meet her future goals, particularly with college expenses looming for the kids and retirement needs.
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