Do I need to change strategy?
I’ve only ever worked at one employer. I started at $38K about 13 years ago and am now at $175K.
Current retirement situation:
Assumption 10% growth a year for all. My actual for the last 13 years is averaging 16%.
Roth 403(b): $150K balance
I now max it annually at $24,500
Employer contributes $3,250 annually
HSA contribution: $4,200/year
Backdoor Roth IRA: ~$2,000/year (current balance ~$10K)
Total annual savings: ~$33,950
I also have a pension that pays 2% of salary × years of service.
My company’s retirement calculator projects I’ll end up with about $1.5M in annual retirement income when combining all sources.
My question: does this seem realistic?
I’ve gotten conflicting advice:
One person says I should be increasing backdoor Roth and adding a 457 plan.
Another says I should instead invest more in a taxable brokerage account.
Both people are financially savvy and have done well.
On top of that, I’m debating housing. I’d like a better home, but the higher payment would reduce my monthly savings. I’ve been told both that I should buy the nicer house now, and alternatively that I can just upgrade later in retirement.
Would appreciate any input or sanity check on the numbers and strategy.