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re: Perfect Annual Salary?
Posted on 7/30/13 at 1:05 pm to wegotdatwood
Posted on 7/30/13 at 1:05 pm to wegotdatwood
quote:
Yeah, my sil and bil just get by. No thought to retirement what so ever.
That 40th birthday is usually a wakeup call - it was for me.
At that point, productive people have been working 20+ years. Many (f*ck it, most) have zilch saved for retirement - or, perhaps a rounding error above $0.00. Then, reality starts to set it realistically - 25 to 30 years of work left, less if a manual laborer.
How much money will I need? How long will I live? What lifestyle do I want to pursue? Can I live on 1/3 or 1/2 of what I'm making right now, in real dollars?
Then they realize they didn't utilize the power of compound interest to already be independently wealthy (or certainly set up for early retirement) and those lost 20+ years CANNOT be recovered.
They start to counsel their children and other young people to not repeat their mistakes (which they will do, anyway). Rinse, repeat.
1
Posted on 7/30/13 at 2:09 pm to Ace Midnight
Yeah, it's painful to watch. I learned from my parents' mistake
Blows my mind how many people refuse to prep for retirement for a car they can't afford
Blows my mind how many people refuse to prep for retirement for a car they can't afford
This post was edited on 7/30/13 at 2:10 pm
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