u/Kindly_Tackle_803

How should I adjust my savings goals due to receiving part of inheritance each year.

Current situation:

  • 25 years old
  • 85k income
  • 95k in investments
  • 1200 in Brokerage
  • 45k in roth ira
  • 47k in 401k mix of roth and trad
  • 2500 in HSA

My parents have been gifting me and my siblings a portion of their income each year as an advance on our "inheritance". Because of this, I have saved a significant amount more than most at my age as they gift enough to max my Roth IRA every year. This was the third year of this.

Normally, the goal is 1x income by 30. I have reached that at 25 partly because of my parents early inheritance gifts.

Any suggestions on what a better metric would be considering I will not have a windfall inheritance in the future, and that the money I am saving is not subtracted from my income? Should I be shooting for 2x income by 30?

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u/Kindly_Tackle_803 — 2 days ago