currently 40 years old male, who recently left the U.S for an overseas job. So essentially, since I no longer work in the U.S, social security build-up has stopped, 401K has stopped. My overseas employer and culture does not have a strong retirement benefits, and it is a high cost of living area, so cash flow savings is minimal. This is a temporary move and for family reasons.
currently, at 40 years old, I have about 200K in savings (150 401K and 50K in tech stocks), and it is just sitting in my account at the moment...growing with the market. My salary in the US averaged around 135K the past few years, so it is decent.
My plan is to come back to the U.S when I'm closer to 50 years old and start "catching up."
How much will this 10 year gap set me back in terms of social security earnings and 401K?
In today's dollars, If I retire with $120-$130K per year, that would let me "maintain" my current lifestyle. But obviously, $120K x 25 years if I live that long is like 3 million dollars....in todays dollars. so I feel like I'm screwed?
currently, at 40 years old, I have about 200K in savings (150 401K and 50K in tech stocks), and it is just sitting in my account at the moment...growing with the market. My salary in the US averaged around 135K the past few years, so it is decent.
My plan is to come back to the U.S when I'm closer to 50 years old and start "catching up."
How much will this 10 year gap set me back in terms of social security earnings and 401K?
In today's dollars, If I retire with $120-$130K per year, that would let me "maintain" my current lifestyle. But obviously, $120K x 25 years if I live that long is like 3 million dollars....in todays dollars. so I feel like I'm screwed?