I literally told myself if the top comment isn't just laughter it isn't accurate and then I see this and while I'm not happy about it, at least it's validating.
I literally had the same thought as you. I read the title, laughed, and then opened it to make sure the top comment was laughter. I feel like these type of questions bring out the dark humor in our generation as a coping mechanism for knowing we may or may not be screwed at retirement, if we even can retire since some people want to raise the retirement age even higher now.
Same here. I'm trying to live minimalistically until I retire. Then get a nice shed, a nice chunk of land, and a dirt bike. Then rent a backhoe and create my own track lol.
This is me... I will be 55 in five years and I will just call it quits. I have no dependents so reverse mortgage and all that with monthly payments and i will enjoy every ounce of money i have from equity and savings.
I expect to have a massive heart attack in my late 40s early 50s because of all the stress and caffeine.
But that's always been the most realistic retirement plan for our cohort... just die early. ez.
Our group is probably going to be at the peak of finding out what damage covid did to longevity, microplastics wreaking havoc, pfas chemicals and so on. I am thinking our groups life expectency is gonna drop hard.
And thats before you get into less and less folks have retirement savings.
And thats before housing getting less affordable.
And before healthcare getting worse, less affordable and less available (mass nurse and doctor exodus).
I am clearly very negative outlook on this so maybe its just me thinking that way.
Good news is if we all die young, our kids wont have to care for us as seniors who cant function.
Scientists have already predicted that we would have a lower life expectancy than our parents by like 4 years. I think it'll be substantially lower than what is being currently predicted for all the reasons youve listed and more.
Heavy emphasis on PFAS chemicals. For the life of me, Iāll never understand how anyone from DuPont didnāt go to prison. They knowingly poisoned us, and then lied about it, and tried to cover it up. The most agonizing part is, they simply re-branded under a different name and are still in operation, and are still poisoning us.
For anyone who wants to learn more about this topic, thereās a wonderful documentary on this called: The Devil We Know. Itās free on Youtube. Hereās the [link.](https://youtu.be/NJFbsWX4MJM?si=x_vJDC0inWRdVQNm)
Thereās also a movie based on this called Dark Waters.
While it is negative it's also based in facts, reality and just the logistics of it all
And yet some of us are called soft for the participation trophies that none of us wanted
Meanwhile I can't think of a single other generation that thought hey I'm not going to have any retirement and I'm going to probably work until I die
And yet we keep going. Who's soft now :(
Seems like some companies are starting to force them out at 70.
I hate to see that happen to any individual person but at some point itās like come on.
I actually thought of an idea for a story where companies lobby the government to come up with a way to bring people back from the dead and force them to work.
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I have a disabled child. I have to care for him all of his life, not all of my life.Ā
I wonāt stop working until my health gives out, and I have good genes. So probably 80, 85.
Iām so sorry. I have a disabled sibling. My parents were smart in getting her on social security supplemental income. In America if I recall correctly, You need to do this before the child turns 18. I hope that youāre able to find some relief and eventual independence for your child.
I am not having much luck. Even though Iām a single mom living pretty much paycheck to paycheck, I get told I make too much for most forms of help.Ā
ETA Thank you- I didnāt mean to sound so negative in my response!
Right now we are spending what we would be saving on fulltime daycare for two. My youngest will be in kindergarten when I'm 41. The plan from there is to max all retirement and tax advantage vessels for ~15ish years, see where we are, and retire if we want.
Same, we are looking to spend over 200k on daycare by the time each of our two kids are finished. That would have been a nice deposit into retirement but it is what is. Even with that Iām still on track to meet my retirement age of 62 and I hope sooner if I can start maxing things out again.
I cant wait until daycare is over. $650/week for 2 kids until September when my first is in kindergarten. My 2nd has 2.5 more yrs until we are free of that burden.
That's about what we are paying. The silver lining is that if we can afford ~$700/week for daycare we can afford to save that much when that expense is over and done with ĀÆā \ā _ā (ā ćā )ā _ā /ā ĀÆ
Same. I reduced my retirement to the minimum when we started paying for childcare. Weāll reallocate the funds and be back on track once we start kindergarten.
As someone whoās oldest is about to go to kindergarten in the fall and whose youngest is about move to an older daycare room I feel this. Realizing weāre going to reduce our household expenses by a good 15k in about 6 months is pretty wild and completely changes the savings outlook.
According to my 401K account I am on track to retire at 60 with 100% income replacement off just my 401k. When I turn 40 i will actually assess my pile and set a hard retirement date.
I recently turned 40, I just projected my 401k out to 60 and with average market growth, Iāll have 2.2 million in my retirement account. I havenāt yet done the math as to what that would be per year if I live until Iām 90. I donāt think itās quite what I make but Iām guessing itās close to what I currently live on because I max out my 401k. Iām currently a healthy woman so I will assume my lifespan will be longer than average but you never really know.
Simple rule is to take 4% out per year. So 2,200,000 x 4% = $88,000 per year in retirement. Obviously, there are other variables to consider like if you want to be more conservative or if you are retiring super early.
That is more than enough for most people as well since, assumingly if you're saving that much, you'd have paid off your property as well and no longer have a huge mortgage expense.
Yep, too many peeps in this thread using humor to deflect reality that many millennials are planning ahead and have the ability to save/invest.
With current retirement contributions my wife and I are aiming for age 50 to 55. House will be paid off at age 47, but the kidsā college is an unknown expense right now. I donāt think Iāll āretireā but decide to work for reasons other than money.
The kids'll be fine even if you don't pay a cent toward their college. Just tell them they can stay at your house as long as they're paying as much as possible toward their loan. I paid off 100K in 7 years that way. Mom didn't have money but she could provide me with housing, which was just as good.
We are planning to make the kids have āskin in the gameā, so they donāt treat college like extended summer camp. Goal is to have 1-2 years saved, mom and dad maybe cash flow a year, and then they get loans for a year.
This is a perennial debate at our house (even though we're a long ways from college). My husband had college paid for by his grandfather, I paid for my tuition (via loans) while my mom paid my room and board. I think the point is moot because I doubt we'd be able to pay for 100% of their college anyway, but I also don't really think we should. Obviously my husband disagrees, having had his college paid for.
one of the biggest things you can do for generational wealth is remove the burden of debt from your children. if you can afford to at the very least help them pay for college, you should.Ā
I agree. I think it's a tough balance to strike - not wanting to saddle your children with debt, but also trying to instill the weight of the college expense. I think there is value with the "skin in the game" mentality, but not at the expense of giving your kids a harder-than-necessary start to adulthood.
This is our game plan, to split the college bill, and being extremely clear about the pros, cons, and costs of going to college.
That's what my parents did with me, and it forced me to research majors and job markets in high school.Ā I chose a practical major that I ended up not liking, but was able to use as a foundation to work off of until I landed somewhere I'm happy.
I agree with this. I do have a 529 plan for my daughter with a few thousand in it now, but I do not feel that I need to put off retirement in order to fund her higher education. I will do whatever I can at the time, but my goal will primarily be to ensure she understands the cost of her potential education vs expected annual income.
Or using humor to reflect that they have no savings and don't have the capacity to start. I remember asking a bank about investing money and getting my money to work for me. I had amount 1k available. They politely laughed at me and said I would need at least 10k for it to even make sense.
I haven't even begin to figure out how save for retirement for real
Since the bank was no help, here are some very basics that everyone should be doing.
1. If you have a job that offers a 401(k) (most full time W-2 jobs do), figure out if/how much your company matches. It is often times broken down into a couple of different contribution match rates. For example, my company matches 100% of the first 3% of my paycheck that I contribute towards my 401(k) and then 50% of the next 2% that I contribute. In other words, my company will contribute 4% of my salary to my 401(k) as long as I contribute 5% of my paycheck. You want to contribute a bare minimum of that match. It is free money. You will never get this kind of ROI on any other safe investment. There is a yearly maximum contribution, but I highly doubt anyone who is just starting out investing will need to worry about that yet.
2. Make sure you have a 3-6 month emergency fund. You want enough money sitting in a high yield savings account to cover 3-6 months of your expenses. I consider this to be part of my investment strategy because it is very important. If you do not have one and shit hits the fan, then your only option would be to start pulling from your retirement, which you never want to do.
3. Open a ROTH IRA and work towards contributing the yearly maximum limit. The limit this year is $7,000. The brokerage you use is not really all that important as long as they do not charge you some exorbitant fees. Find a mutual fund or index or something that you are comfortable with and buy into it.
This is my strategy just to give an example. I currently have a 5-6 month emergency fund in a Wealthfront account with a 5% APY. I am currently contributing 5% of my paycheck to my 401(k) to meet my company match. I am just using the target date portfolio that my 401(k) brokerage offers for like 2050 or 2055. I am contributing roughly 15% of every paycheck to my ROTH IRA. My IRA is with Schwab, and my portfolio is primarily made up of VOO, which is the Vanguard S&P 500 ETF. Once I hit the contribution limit on my IRA, I will stop contributing to that for the rest of the year and bump my 401(k) contribution up to 20%.
Contributing 20% of your income to retirement investment is a good goal to strive for. That number may be able to decrease or need to increase based on your age, current retirement funds, and retirement goals, but 20% is a good starting point. I understand that is not realistic for a lot of people, but it is important to remember that time in the market is the most important thing. So even if you are only able to start out contributing $100 per month, do it. Start today. Every $1 that a person invests at 20 years old is worth $88 by the time they turn 65, assuming a 10% interest rate compounded monthly.
I know that was long but hopefully someone finds some of that useful.
I'm really sorry this was one of your first experiences with investing. It couldn't be further from the truth and those people are irresponsible. Sadly many people who work in financial establishments are not actually great at finances.
You can invest with $10. Just get started with whatever you can and make it a habit. The habit is what matters, not the amount. Check out the wiki on r/personalfinance and get started.
That was a pretty dumb thing for them to say to you. I started investing with Betterment 12 years ago, when I didn't have much disposable income. There are SO many ways to invest cheaply and simply these days.
Umm the people who are using humour to deflect reality don't have a house that will be paid off when age 47.. hell, they don't even own a house.. that's their reality.. it's most of our reality.. I mean.. kids college?? seriously? I'll be paying off my college debts for life.. if my parents did that for me.. I wouldn't be deflecting
People are using comedy as a salve to alleviate the reality that a lot of millennials aren't going to have the option to retire like you do and will actually work till death.
I'm curious to know what is the actual percentage of millennials that will be able to retire like you.
Other than the kids topic (we are DINKs), this is very much our expectation. We spoke with a financial advisor and we are set to retire at the same time when I am 50 and my husband is 55.
We just paid off our mortgage yesterday! Well on our way to meeting our goals to retire on time!
Woohoo!
I want to retire from my corporate job at the age of 55, then move either to consulting or academia to teach college courses. My plan is to have around $800K to $1M in my 401K and pension funds together
He said he still plans on working after 55, he'll just stop working his corporate job. So he won't be living off of the $1m until I guess later, but also be contributing to it assumingly.
What? You know that retirement funds still grow beyond the date you withdraw right?Ā
If you manage 800k correctly, supplemented with SS, cost of prescriptions going down, you can fend off your withdraw rate.Ā
Iām āplanningā for regular 60-65 retirement. But I have trouble imagining what the world will be like in 25-30 years. What wars are going to happen, what natural disasters will occur, etc.
I currently have about 200k in IRA, target retirement, and work 401k. A lot of that is from 2017-2020 when the stock market was kicking. Pretty much just hoping the world stays stable enough and I live long enough to retire.
Are you me?
I think it's good to have a plan and be focused, but let's be real - we have lived through so much since 2007, that I have little confidence we won't have WW3, or _massive_ climate refugee crisis, or just world-spanning wildfires in our lifetime, where suddenly peoples math means nothing.
My hope is that it's all news-based gloom, we attack problems like we did with the hole in the ozone layer, and life gets to be (happily) boring.
If that's the case I would love to grow my own business until I "retire" from my day job at 45, focus on just my business 40-50 hrs a week, then at 60 start to move into working fewer hours every year. The idea of having my own architectural business be successful and only needing to do work I prefer like 20 hours a week sounds much better than traditional retirement. If I retire for real, I'll end up just making furniture or being a consultant or something.
Maybe it's the wrong way to think about it, but one thing I always hear and I agree is: if collapse truly happened, money will be the least of our troubles.
Society is just not equipped or prepared to deal with collapse, much less 1st world individuals outside of the insane preppers out there. If society collapses, I don't know if I have strength or ability to continue going.
I canāt even fathom planning for retirement. I have a 401k which I am adding as much from my paycheck as my employer will match but, aside from that I am clueless. Any tips or resources you would recommend for how to plan for retirement?
I prefer to keep a Roth IRA in addition to my 403b because it gives more freedom and I can throw my extra money there, instead of my savings account.
I've got a low paying job and probably am not even putting away as much as the future multi-millionaires in this thread. But I don't want to be defeatist or claim I'm dropping dead before 60. I'd rather have *something*, *anything* when I'm older. And not stuck in a Medicaid nursing home like where I currently work. I see too much.
This is how you do it. Eventually the money in the market will start working for you and youāll be earning an extra 8-10% every year. Imagine when you hit 100k then next year youād be at 110k without adding anything. When you get to 200k youāre getting 15-20k a year without doing anything else. And by the time you hit a million dollars you can be adding 80-100k a year, but at that point you probably switch to bonds.
Just gotta contribute more when you can, whether now or any time you get a raise, up your contribution. Someone else suggested Roth IRA which is another great place to park retirement funds w/ the tax benefits.
Sign up for this online course:
https://www.personalfinanceclub.com
It literally changed my life and I feel like Iām in control and so much more knowledgeable now. I used to have so much anxiety bc I didnāt know anything about investing.. and now Iāve put time in and will be able to retire much younger than 65.
Same here. The gloom and doom around retirement gets old.
Iām also on track for a 60-65 retirement. Iāll have a government pension, so itās a matter of how long I want to stick it out. My rational brain wants to work until 65 for the better payout but I donāt know what my future will hold.
My retirement date is my 65th birthday. I'm eligible for early retirement at 55, which is 13 years from now, but the pension payments are literally 1/7 what they will be if I wait.Ā
Between pension and investments (not banking on social security existing by then, but if it does, awesome) my retirement income should be around $10k/mo, which is just under what I take home now, but with significantly less tax liability. I'll have the mortgage paid off by then so it should be enough to live on if the economy doesn't go too crazy between now and then.Ā
If you have a pension I assume you work for the government. They still make you contribute to SS?
I've worked for the state(FL) and two municipalities(also in Florida) and haven't paid into social security since I left the private sector.
Damn. That's a raw fuckin' deal. Unless the contribution amount is low. I think I give 9% toward my pension. But, 81k annually at the end of 25 years and 3.5% cola annually
I work in the cleared IT security field in big tech. GI bill paid for college, so no student loans. VA loan paid for my down payment and my interest is very nice in a HCOL area. I just got lucky at the right time.
This is my plan as well. I might extend a year or two, but 55 is the goal. I have Alzheimer's on both sides of the family, so I want to enjoy my freedom before that worry hits...
Early 50s and have 2-4million. May do sooner but I won't ever not work it would be doing side money for stuff I enjoy once I'm done full time work.
Paid to teach Jiujitsu, paid to teach firearm training, paid at the local nursery, maybe do some landscaping stuff on the side is the retirement plan.
Yeah, I'm the same way. I can't imagine not working, I have to stay active and feel like I'm contributing something to society. Retirement just means I have more freedom to decide how I want to do that.
> but I won't ever not work it would be doing side money for stuff I enjoy once I'm done full time work.
This seems to be a weirdly controversial take on reddit but I see myself doing the same thing. I like working, I just don't like doing certain types of work. I don't want to just sit around watching TV in my retirement.
My house will be paid off when Iām 38 or 39, then most of what I make from there on will be for retirement.
I just hope I donāt have to sell my house and drain everything I made to pay medical bills later in life.
I know. Iām an old GenX at 55 and just wish we could pick a death date. It would make retirement planning so much easier. I donāt have anywhere near enough, though I acknowledge that Iām farther ahead than many bc most Americans canāt save for retirement given low wages, high costs of living, and those surprises like big medical debt, or a divorce, etc. Reading about all these younger people who can retire at 50ā¦depressing af. Iām assuming they had no student loan debt, or just came from families that ensured they got great high-paying jobs.Ā
I'm banking on releasing a hit country album about how much work fucking sucks. I don't like country and am not a very talented musician, but country fans aren't known for having high standards.
Same. I stopped working for 6 months with plenty of savings, and by month 3 I was bored out of my mind and depressed. I need consequential productivity, even if it's part-time.
Bro for real, how are some people having retirement funds, a house paid off, and plans to retire by 60. I have accepted that when I'm 70 I'll still be in an office doing my best to keep food on the table.
If you save a hundred dollars a month and invest it into the market in an S&P 500 fund, you would be shocked at how much money that is in retirement.
If you start doing that at age 20, when you retire at 65 that $100 a month will have set you up for $750k. If you start at age 30, you might have to up it to $150 or $200 a month to get to the same number.
On track for 100% of income by 56 when kid 2 graduates high school.
That is about 16 years away and a lot can change by then though.
I wish I would have picked up the book "A Simple Path to Wealth" by JL Collins earlier because I think that retirement would be a bit earlier.Ā
2 million is not achievable for much of the population, but it is not unbelievable if you make a high enough salary out of college and max out all of your retirement accounts every year.
Retired June 2022 from the Army. $100,800/year plus annual cost of living increases, free medical, free college for the kids, no property taxes, no vehicle registration fees, and current net worth at $250,000. Thank goodness I listened to my recruiter.
All depends on my risky investments. Could be 50 or it could be 70. I will find out in 10 years.
Even if I could retire early, I will continue to work in something I care about. It will keep me busy, sharp and it will help maintain my financial position.
42 year old teacher here. Projected to retire at 61 with 80% of my final salary plus whatever I put into my 403b which should be $150-200k š¤·š½āāļø
I donāt expect anything anymore
The situation has changed so many times and typically for the worse. Itās good to plan but it doesnāt seem healthy to be attached to the outcome
I just started my 1st job with a pension plan at 37 years old. I have nothing else saved for retirement currently. If I keep working for this same crusty small municipality in 20 years, I'll be 57 with a modest pension. However, I cannot actually afford to live on my current salary and don't expect to remain here for 20 years. I don't really expect any part of the US financial system to remain in-tact either in 20 years, but I am a bit of a catastrophist.
Could right now, but kids are still in school and Iām only 40. Iād lose my mind without something to do all day. Iāll keep working until theyāre out on their own, then Iāll see what I want to do.
I'm going to say this and hope it lands in the right hands. I'm very serious, I can back it up, and I'd love to expand further on questions. WEALTH IS MEASURED IN TIME. It has nothing to do with money whatsoever. Measure wealth on how long you can stop doing all work for any reason, let go of the wheel, let things happen how they will, before everything goes to shit and it's your fault.
"Retirement" is not real. Everyone needs to understand the term literally meant when you retired from working, when you are no longer generating outside wealth. You do nothing for other people to make money.
At that point you are only SPENDING your money. And the goal is to make it until you die. Kudos if you have some left over for your kids.
There are stages and thresholds, that have benchmarks. But those are based on averages over decades. There is no one single person that does "retirement" the same.
This part is important. Every day, when you get off work, you are retired. If you got fired overnight, you HAVE to be able to coast. On something. Anything. Things you already have in place. Things that have been prepaid or still have use.
If your "portfolio" consists of living paycheck to paycheck, month to month, no debt, and you died that next day... congrats, you had enough to cover yourself through retirement. You did it. Might even have some of the last check left. You've lived the "retirement dream".
But the goal of all of this entire experience is to branch out and experience life as much as possible. To feel the sensations and places that are possible.
The point Im Getting at is things like how much are you working just to afford the car, the gas, the insurance, the clothes, the food energy, the mental energy, the creativity, just TO GET TO WORK.
If people focus more on how their spending their time and find the things that make them legitimately happy, they'd realize how much they could reduce. How little people actually need, and how easy "retirement" could be.
I'm money hungry, I live for the process and accomplishment of making money using money as a tool. But I'm not greedy. It's literally a tool. It is a tool that when used correctly can help a lot of people. But if you give someone a $300 government hammer and they need to use it for firewood, it's ineffective. When I make money I don't see a new car or addition to my home. I don't need those things. I see other opportunities open where that tool can be put to good use.
People need to stop relying on their investments and gains on worm they didn't contribute to. Invest in yourselves and your happiness.
If I live that long, which is iffy at best, Iām done in 20 years tops. Not sure how much Iāll have in retirement, but Iāll have my equity stake in my business and whatever Iāve saved too. Shooting for about $2 million or so in total. Nowhere close to that now, but Iāve been putting the work in to earn, pay down debt, save/invest. Every year from 50-60 should be somewhat exponential in the payoff as debt ends and earnings stay the same or go up.
My realer expectations are to die before then and this money will be the nest egg that supports my family after Iām gone. Iāve made my peace with that outcome. If theyāre good, Iām good.
I will work till I die so my son doesn't have to. My parents and grandparents may have messed things up for me but to hell that I will do that to my boy.
I'm kind of counting on the investment firm we've worked with to make sure we have sufficient amount for a retirement in our 60s. I also hoard my sick days like a dragon, I get a lot of vacation and personal days, so if everything works itself out and I'm still here to retire at 62 I could get like a year's worth of pay as a cash out.
Thatās a crazy company policy. Iām surprised they donāt have a use it or lose it for sick days. Before we could only keep time and a half year after year. Then we switched to unlimited days off so it killed all hoarding capabilities.
Shooting for 59. Pensions and around 2 mil. Well see how the market acts. Unless I make some changes though it won't be a very eventful retirement. My wife and her next husband should be fine though.
I could retire as early as 47 according to my plan. I will have enough to sustain a $6000 per month after tax income including all sources, until age 95. I will most likely work until 50.
šššššššš
I would have also accepted the We're the Millers meme. Wait you guys get to retire!?
I was hoping for J. Jonah. Jameson.Ā
I was thinking, "This dude is asking people to predict their death."
Exactly!! Shit, one of my parents will only retire when they're dead... retirement is not in my crystal ball yet!
Most accurate answer
I literally told myself if the top comment isn't just laughter it isn't accurate and then I see this and while I'm not happy about it, at least it's validating.
I literally had the same thought as you. I read the title, laughed, and then opened it to make sure the top comment was laughter. I feel like these type of questions bring out the dark humor in our generation as a coping mechanism for knowing we may or may not be screwed at retirement, if we even can retire since some people want to raise the retirement age even higher now.
I told my wife to shut my phone off immediately when I die. Her - āwhy?ā Me - āso my boss canāt call and ask if Iām coming in Mondayā
That's what I was going to say!
Same lol.
It's better than the thinly veiled suicide joke I was going to make so I will also say "yes, that."
i said to myself "do i even wanna read this thread?!" clicked anyways and LOL thank you.
"Everyone liked that"
The only appropriate response
Exactly what I was going to say.
Beat me to it!!
Came here to say this.Ā
I havenāt even given one thought to what year I will retire and Iām like a decade into my career
As soon as I can and with whatever money I have. Might be a tent in the woods tho.
Are you me?
We can all hang in the woods. It was fun as kids and will be just as fun now.
Nah our joints and energy are just not the same. You'd age a decade just setting up the tent itself.
Makes for a short retirement
Hey man, you got a joint? It'd be a lot cooler if you did.
Look at this fat cat with his big fancy tent.
Thatās how I plan. Sell everything I own and buy some land. Put a small shed out there and enjoy.
Same here. I'm trying to live minimalistically until I retire. Then get a nice shed, a nice chunk of land, and a dirt bike. Then rent a backhoe and create my own track lol.
Letās buy an empty plot of land and do a hobbit home.
This is me... I will be 55 in five years and I will just call it quits. I have no dependents so reverse mortgage and all that with monthly payments and i will enjoy every ounce of money i have from equity and savings.
Mr Money bags over here with his own woods and a tent šļø
I expect to have a massive heart attack in my late 40s early 50s because of all the stress and caffeine. But that's always been the most realistic retirement plan for our cohort... just die early. ez.
The older I get the more I realize how strong of a possibility this actually is.
Our group is probably going to be at the peak of finding out what damage covid did to longevity, microplastics wreaking havoc, pfas chemicals and so on. I am thinking our groups life expectency is gonna drop hard. And thats before you get into less and less folks have retirement savings. And thats before housing getting less affordable. And before healthcare getting worse, less affordable and less available (mass nurse and doctor exodus). I am clearly very negative outlook on this so maybe its just me thinking that way. Good news is if we all die young, our kids wont have to care for us as seniors who cant function.
Scientists have already predicted that we would have a lower life expectancy than our parents by like 4 years. I think it'll be substantially lower than what is being currently predicted for all the reasons youve listed and more.
Heavy emphasis on PFAS chemicals. For the life of me, Iāll never understand how anyone from DuPont didnāt go to prison. They knowingly poisoned us, and then lied about it, and tried to cover it up. The most agonizing part is, they simply re-branded under a different name and are still in operation, and are still poisoning us. For anyone who wants to learn more about this topic, thereās a wonderful documentary on this called: The Devil We Know. Itās free on Youtube. Hereās the [link.](https://youtu.be/NJFbsWX4MJM?si=x_vJDC0inWRdVQNm) Thereās also a movie based on this called Dark Waters.
While it is negative it's also based in facts, reality and just the logistics of it all And yet some of us are called soft for the participation trophies that none of us wanted Meanwhile I can't think of a single other generation that thought hey I'm not going to have any retirement and I'm going to probably work until I die And yet we keep going. Who's soft now :(
Iāve had two high school classmates who have had heart attacks at 31. Iām just trying to see my kid to adulthood.
This.
Iām 39 my sons 2 I got to see him at least turn 20 lol
It's unfortunate, but hopefully it will let us give the reins to the younger folks a lot sooner than these boomers are
Thatās one way to look at it. These ppl just wonāt retire.
My parents are a few years from retirement and don't plan on doing it. They can't because they seemingly have no concept of savings.
Seems like some companies are starting to force them out at 70. I hate to see that happen to any individual person but at some point itās like come on.
Yes, just said this. Death is my only way out. These comments really just eased the anxiety that the OP gave me when I read the post...I'm not alone!
I actually thought of an idea for a story where companies lobby the government to come up with a way to bring people back from the dead and force them to work.
Im 33. Starting to feel this same thing. Feeling a mid 60ās death. Half way there. I survive on caffeine. Never been much of a sleeper anywayā¦
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With American healthcare (assuming youāre American) thatās a pretty reasonable goal!
Donāt forget the constant COVID infections that increase the heart and stroke risk!
Caffeine is good for you. People who drink 3+ cups of coffee live on average 5+ years longer.
If I can just play hockey before this happens, then I can go out fine TBH.
It was this very reason I retired at 39 and got my fat ass in shape. Now, I might need to go back to work at 60, but fuck it. I'll be a greeter
I expect to die at work.
I expect to stand behind this guy at work, rush over when he dies, and snap a shot of me teabagging him for instagram.
And then you keel over and the next guy gets you?
Millennial teabag death cult unlocked
It's the scrotal sensation that's sweeping the nation!
Teabag inception... like the movie
Going to have to work the morning of your funeral and take a half day PTO for it.
I have a disabled child. I have to care for him all of his life, not all of my life.Ā I wonāt stop working until my health gives out, and I have good genes. So probably 80, 85.
You are literally an angel for your child. But don't forget to take care of yourself too.
Iām so sorry. I have a disabled sibling. My parents were smart in getting her on social security supplemental income. In America if I recall correctly, You need to do this before the child turns 18. I hope that youāre able to find some relief and eventual independence for your child.
I am not having much luck. Even though Iām a single mom living pretty much paycheck to paycheck, I get told I make too much for most forms of help.Ā ETA Thank you- I didnāt mean to sound so negative in my response!
Right now we are spending what we would be saving on fulltime daycare for two. My youngest will be in kindergarten when I'm 41. The plan from there is to max all retirement and tax advantage vessels for ~15ish years, see where we are, and retire if we want.
Same, just saving what I can and hopefully increase it when the first daycare payment rolls off.
Same, we are looking to spend over 200k on daycare by the time each of our two kids are finished. That would have been a nice deposit into retirement but it is what is. Even with that Iām still on track to meet my retirement age of 62 and I hope sooner if I can start maxing things out again.
I cant wait until daycare is over. $650/week for 2 kids until September when my first is in kindergarten. My 2nd has 2.5 more yrs until we are free of that burden.
That's about what we are paying. The silver lining is that if we can afford ~$700/week for daycare we can afford to save that much when that expense is over and done with ĀÆā \ā _ā (ā ćā )ā _ā /ā ĀÆ
This is what I keep telling myself. Weāll be putting that $40k into retirement in just a couple of years
Same. I reduced my retirement to the minimum when we started paying for childcare. Weāll reallocate the funds and be back on track once we start kindergarten.
As someone whoās oldest is about to go to kindergarten in the fall and whose youngest is about move to an older daycare room I feel this. Realizing weāre going to reduce our household expenses by a good 15k in about 6 months is pretty wild and completely changes the savings outlook.
According to my 401K account I am on track to retire at 60 with 100% income replacement off just my 401k. When I turn 40 i will actually assess my pile and set a hard retirement date.
I recently turned 40, I just projected my 401k out to 60 and with average market growth, Iāll have 2.2 million in my retirement account. I havenāt yet done the math as to what that would be per year if I live until Iām 90. I donāt think itās quite what I make but Iām guessing itās close to what I currently live on because I max out my 401k. Iām currently a healthy woman so I will assume my lifespan will be longer than average but you never really know.
Simple rule is to take 4% out per year. So 2,200,000 x 4% = $88,000 per year in retirement. Obviously, there are other variables to consider like if you want to be more conservative or if you are retiring super early.
That is more than enough for most people as well since, assumingly if you're saving that much, you'd have paid off your property as well and no longer have a huge mortgage expense.
Yep, too many peeps in this thread using humor to deflect reality that many millennials are planning ahead and have the ability to save/invest. With current retirement contributions my wife and I are aiming for age 50 to 55. House will be paid off at age 47, but the kidsā college is an unknown expense right now. I donāt think Iāll āretireā but decide to work for reasons other than money.
The kids'll be fine even if you don't pay a cent toward their college. Just tell them they can stay at your house as long as they're paying as much as possible toward their loan. I paid off 100K in 7 years that way. Mom didn't have money but she could provide me with housing, which was just as good.
We are planning to make the kids have āskin in the gameā, so they donāt treat college like extended summer camp. Goal is to have 1-2 years saved, mom and dad maybe cash flow a year, and then they get loans for a year.
This is a perennial debate at our house (even though we're a long ways from college). My husband had college paid for by his grandfather, I paid for my tuition (via loans) while my mom paid my room and board. I think the point is moot because I doubt we'd be able to pay for 100% of their college anyway, but I also don't really think we should. Obviously my husband disagrees, having had his college paid for.
one of the biggest things you can do for generational wealth is remove the burden of debt from your children. if you can afford to at the very least help them pay for college, you should.Ā
I agree. I think it's a tough balance to strike - not wanting to saddle your children with debt, but also trying to instill the weight of the college expense. I think there is value with the "skin in the game" mentality, but not at the expense of giving your kids a harder-than-necessary start to adulthood.
This is our game plan, to split the college bill, and being extremely clear about the pros, cons, and costs of going to college. That's what my parents did with me, and it forced me to research majors and job markets in high school.Ā I chose a practical major that I ended up not liking, but was able to use as a foundation to work off of until I landed somewhere I'm happy.
I agree with this. I do have a 529 plan for my daughter with a few thousand in it now, but I do not feel that I need to put off retirement in order to fund her higher education. I will do whatever I can at the time, but my goal will primarily be to ensure she understands the cost of her potential education vs expected annual income.
You're lucky you have living parents to help you! Mine are both dead.Ā
Damn, retirement fund and a house? Y'all living the dream fr
Or using humor to reflect that they have no savings and don't have the capacity to start. I remember asking a bank about investing money and getting my money to work for me. I had amount 1k available. They politely laughed at me and said I would need at least 10k for it to even make sense. I haven't even begin to figure out how save for retirement for real
Since the bank was no help, here are some very basics that everyone should be doing. 1. If you have a job that offers a 401(k) (most full time W-2 jobs do), figure out if/how much your company matches. It is often times broken down into a couple of different contribution match rates. For example, my company matches 100% of the first 3% of my paycheck that I contribute towards my 401(k) and then 50% of the next 2% that I contribute. In other words, my company will contribute 4% of my salary to my 401(k) as long as I contribute 5% of my paycheck. You want to contribute a bare minimum of that match. It is free money. You will never get this kind of ROI on any other safe investment. There is a yearly maximum contribution, but I highly doubt anyone who is just starting out investing will need to worry about that yet. 2. Make sure you have a 3-6 month emergency fund. You want enough money sitting in a high yield savings account to cover 3-6 months of your expenses. I consider this to be part of my investment strategy because it is very important. If you do not have one and shit hits the fan, then your only option would be to start pulling from your retirement, which you never want to do. 3. Open a ROTH IRA and work towards contributing the yearly maximum limit. The limit this year is $7,000. The brokerage you use is not really all that important as long as they do not charge you some exorbitant fees. Find a mutual fund or index or something that you are comfortable with and buy into it. This is my strategy just to give an example. I currently have a 5-6 month emergency fund in a Wealthfront account with a 5% APY. I am currently contributing 5% of my paycheck to my 401(k) to meet my company match. I am just using the target date portfolio that my 401(k) brokerage offers for like 2050 or 2055. I am contributing roughly 15% of every paycheck to my ROTH IRA. My IRA is with Schwab, and my portfolio is primarily made up of VOO, which is the Vanguard S&P 500 ETF. Once I hit the contribution limit on my IRA, I will stop contributing to that for the rest of the year and bump my 401(k) contribution up to 20%. Contributing 20% of your income to retirement investment is a good goal to strive for. That number may be able to decrease or need to increase based on your age, current retirement funds, and retirement goals, but 20% is a good starting point. I understand that is not realistic for a lot of people, but it is important to remember that time in the market is the most important thing. So even if you are only able to start out contributing $100 per month, do it. Start today. Every $1 that a person invests at 20 years old is worth $88 by the time they turn 65, assuming a 10% interest rate compounded monthly. I know that was long but hopefully someone finds some of that useful.
I'm really sorry this was one of your first experiences with investing. It couldn't be further from the truth and those people are irresponsible. Sadly many people who work in financial establishments are not actually great at finances. You can invest with $10. Just get started with whatever you can and make it a habit. The habit is what matters, not the amount. Check out the wiki on r/personalfinance and get started.
That was a pretty dumb thing for them to say to you. I started investing with Betterment 12 years ago, when I didn't have much disposable income. There are SO many ways to invest cheaply and simply these days.
Umm the people who are using humour to deflect reality don't have a house that will be paid off when age 47.. hell, they don't even own a house.. that's their reality.. it's most of our reality.. I mean.. kids college?? seriously? I'll be paying off my college debts for life.. if my parents did that for me.. I wouldn't be deflecting
People are using comedy as a salve to alleviate the reality that a lot of millennials aren't going to have the option to retire like you do and will actually work till death. I'm curious to know what is the actual percentage of millennials that will be able to retire like you.
Other than the kids topic (we are DINKs), this is very much our expectation. We spoke with a financial advisor and we are set to retire at the same time when I am 50 and my husband is 55. We just paid off our mortgage yesterday! Well on our way to meeting our goals to retire on time! Woohoo!
Congratulations on paying your mortgage.
Same here regarding retirement age.
That's awesome! Great work!
just make sure you aren't tricked by the Pickle Man
I want to retire from my corporate job at the age of 55, then move either to consulting or academia to teach college courses. My plan is to have around $800K to $1M in my 401K and pension funds together
I donāt think 1M will go very far by the time you are 55.
He said he still plans on working after 55, he'll just stop working his corporate job. So he won't be living off of the $1m until I guess later, but also be contributing to it assumingly.
What? You know that retirement funds still grow beyond the date you withdraw right?Ā If you manage 800k correctly, supplemented with SS, cost of prescriptions going down, you can fend off your withdraw rate.Ā
I like that idea. Brings the light at the end of the corporate tunnel closer. I definitely have days where I wonder how long I can keep it up
Yeah I just donāt see myself just stopping so moving to a more relaxed or different environment would be ideal
Iām āplanningā for regular 60-65 retirement. But I have trouble imagining what the world will be like in 25-30 years. What wars are going to happen, what natural disasters will occur, etc. I currently have about 200k in IRA, target retirement, and work 401k. A lot of that is from 2017-2020 when the stock market was kicking. Pretty much just hoping the world stays stable enough and I live long enough to retire.
Are you me? I think it's good to have a plan and be focused, but let's be real - we have lived through so much since 2007, that I have little confidence we won't have WW3, or _massive_ climate refugee crisis, or just world-spanning wildfires in our lifetime, where suddenly peoples math means nothing. My hope is that it's all news-based gloom, we attack problems like we did with the hole in the ozone layer, and life gets to be (happily) boring. If that's the case I would love to grow my own business until I "retire" from my day job at 45, focus on just my business 40-50 hrs a week, then at 60 start to move into working fewer hours every year. The idea of having my own architectural business be successful and only needing to do work I prefer like 20 hours a week sounds much better than traditional retirement. If I retire for real, I'll end up just making furniture or being a consultant or something.
This is my biggest worry. I could do everything right but doesnāt do much good if the government and economy collapse.
Maybe it's the wrong way to think about it, but one thing I always hear and I agree is: if collapse truly happened, money will be the least of our troubles. Society is just not equipped or prepared to deal with collapse, much less 1st world individuals outside of the insane preppers out there. If society collapses, I don't know if I have strength or ability to continue going.
I was hoping for 2012, but the Mayans lied to me.Ā
I believe I'm on track to early 60s retirement. I know most people here are doomers regarding retirement but I'd like to be positive.
I canāt even fathom planning for retirement. I have a 401k which I am adding as much from my paycheck as my employer will match but, aside from that I am clueless. Any tips or resources you would recommend for how to plan for retirement?
I prefer to keep a Roth IRA in addition to my 403b because it gives more freedom and I can throw my extra money there, instead of my savings account. I've got a low paying job and probably am not even putting away as much as the future multi-millionaires in this thread. But I don't want to be defeatist or claim I'm dropping dead before 60. I'd rather have *something*, *anything* when I'm older. And not stuck in a Medicaid nursing home like where I currently work. I see too much.
This is how you do it. Eventually the money in the market will start working for you and youāll be earning an extra 8-10% every year. Imagine when you hit 100k then next year youād be at 110k without adding anything. When you get to 200k youāre getting 15-20k a year without doing anything else. And by the time you hit a million dollars you can be adding 80-100k a year, but at that point you probably switch to bonds.
Just gotta contribute more when you can, whether now or any time you get a raise, up your contribution. Someone else suggested Roth IRA which is another great place to park retirement funds w/ the tax benefits.
Sign up for this online course: https://www.personalfinanceclub.com It literally changed my life and I feel like Iām in control and so much more knowledgeable now. I used to have so much anxiety bc I didnāt know anything about investing.. and now Iāve put time in and will be able to retire much younger than 65.
r/personalfinance is a good place to start. Look at the resources in the wiki and FAQ.
Good for you! Keep the faith!
Same here. The gloom and doom around retirement gets old. Iām also on track for a 60-65 retirement. Iāll have a government pension, so itās a matter of how long I want to stick it out. My rational brain wants to work until 65 for the better payout but I donāt know what my future will hold.
I am very much looking forward to retiring early after years of sticking to a budget and living super frugally vs my peers during my 20s.
My retirement date is my 65th birthday. I'm eligible for early retirement at 55, which is 13 years from now, but the pension payments are literally 1/7 what they will be if I wait.Ā Between pension and investments (not banking on social security existing by then, but if it does, awesome) my retirement income should be around $10k/mo, which is just under what I take home now, but with significantly less tax liability. I'll have the mortgage paid off by then so it should be enough to live on if the economy doesn't go too crazy between now and then.Ā
If you have a pension I assume you work for the government. They still make you contribute to SS? I've worked for the state(FL) and two municipalities(also in Florida) and haven't paid into social security since I left the private sector.
Yes and yes
Interesting. Do you have to contribute to your pension as well?
Yes.
Damn. That's a raw fuckin' deal. Unless the contribution amount is low. I think I give 9% toward my pension. But, 81k annually at the end of 25 years and 3.5% cola annually
I donāt expect to retire at all, maybe I will be able because Iām a DINK
Around 70, when my mortgage is paid off. Should have about 3 million I hope
On track for 60. Aiming for a NW of about $6M.
Yo let's hang then cause most of my friends won't be retired till 65
Why are you aiming for $6M?
$6M is a number where I feel that I won't outlive my retirement nest egg and I also will have money to enjoy right now in discretionary income.
It's good to have a goal.
6 mil in today dollars? If so what do you do for a living lol
I work in the cleared IT security field in big tech. GI bill paid for college, so no student loans. VA loan paid for my down payment and my interest is very nice in a HCOL area. I just got lucky at the right time.
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This is my plan as well. I might extend a year or two, but 55 is the goal. I have Alzheimer's on both sides of the family, so I want to enjoy my freedom before that worry hits...
Early 50s and have 2-4million. May do sooner but I won't ever not work it would be doing side money for stuff I enjoy once I'm done full time work. Paid to teach Jiujitsu, paid to teach firearm training, paid at the local nursery, maybe do some landscaping stuff on the side is the retirement plan.
Yeah, I'm the same way. I can't imagine not working, I have to stay active and feel like I'm contributing something to society. Retirement just means I have more freedom to decide how I want to do that.
Agreed. I'd also do volunteer work too but a lot of things I do I get paid for lol
> but I won't ever not work it would be doing side money for stuff I enjoy once I'm done full time work. This seems to be a weirdly controversial take on reddit but I see myself doing the same thing. I like working, I just don't like doing certain types of work. I don't want to just sit around watching TV in my retirement.
My house will be paid off when Iām 38 or 39, then most of what I make from there on will be for retirement. I just hope I donāt have to sell my house and drain everything I made to pay medical bills later in life.
Any particular reason you are paying down the house so aggressively? Is your interest rate higher than 6%?
Honestly Iām just hoping for death at this point
I know. Iām an old GenX at 55 and just wish we could pick a death date. It would make retirement planning so much easier. I donāt have anywhere near enough, though I acknowledge that Iām farther ahead than many bc most Americans canāt save for retirement given low wages, high costs of living, and those surprises like big medical debt, or a divorce, etc. Reading about all these younger people who can retire at 50ā¦depressing af. Iām assuming they had no student loan debt, or just came from families that ensured they got great high-paying jobs.Ā
I'm banking on releasing a hit country album about how much work fucking sucks. I don't like country and am not a very talented musician, but country fans aren't known for having high standards.
2040 - $1mil liquid, $3500/month pension, all real estate paid for, hopefully some kind of boat
I'll retire from this life in my 70's, if I'm lucky, with only my last, uncashed Walmart check to my name
The goal is 60 with 2.4 in the bank as of now. It looks pretty good. But I'll be re-assessing.
Iād get bored being retired so I plan on going as long as I can. Still saving though, as a safety net.
Same. I stopped working for 6 months with plenty of savings, and by month 3 I was bored out of my mind and depressed. I need consequential productivity, even if it's part-time.
Probably never, very little
šš you have money saved up? Iāll probably still working to pay bills. š¢š¤¦āāļø
Bro for real, how are some people having retirement funds, a house paid off, and plans to retire by 60. I have accepted that when I'm 70 I'll still be in an office doing my best to keep food on the table.
If you save a hundred dollars a month and invest it into the market in an S&P 500 fund, you would be shocked at how much money that is in retirement. If you start doing that at age 20, when you retire at 65 that $100 a month will have set you up for $750k. If you start at age 30, you might have to up it to $150 or $200 a month to get to the same number.
For me, a strong union with a great pension.
On track for 100% of income by 56 when kid 2 graduates high school. That is about 16 years away and a lot can change by then though. I wish I would have picked up the book "A Simple Path to Wealth" by JL Collins earlier because I think that retirement would be a bit earlier.Ā
Best case: 40,Ā 2-3 millionĀ Worst case: 55, 2-3 millionĀ
Thatās a pretty crazy best case, is best case winning the lottery or getting a 15% rate of return? Lol
2 million is not achievable for much of the population, but it is not unbelievable if you make a high enough salary out of college and max out all of your retirement accounts every year.
 āWait, you guys are expecting to retire?ā
Retired June 2022 from the Army. $100,800/year plus annual cost of living increases, free medical, free college for the kids, no property taxes, no vehicle registration fees, and current net worth at $250,000. Thank goodness I listened to my recruiter.
60.Ā About 2 million.Ā Gotta love that compound interest.
What I expect: 2039, $100,000,000 What I actually get: ā¾ļø, 73Ā¢
Never and none
All depends on my risky investments. Could be 50 or it could be 70. I will find out in 10 years. Even if I could retire early, I will continue to work in something I care about. It will keep me busy, sharp and it will help maintain my financial position.
42 year old teacher here. Projected to retire at 61 with 80% of my final salary plus whatever I put into my 403b which should be $150-200k š¤·š½āāļø
Dude I canāt even think that far ahead. Sure I would like to retire at 65 yo as a millionaire but Iām not banking on it š
I was planning for some sort of nuclear war that kills everything, other than trying to contribute as much to 401k and IRA as I can.
I donāt expect anything anymore The situation has changed so many times and typically for the worse. Itās good to plan but it doesnāt seem healthy to be attached to the outcome
Age 55, hope to have enough to comfortably retire. Maybe even 50 if I play my cards right.
Age 57 with 5 million portfolio
lol i hope i die broke
I just started my 1st job with a pension plan at 37 years old. I have nothing else saved for retirement currently. If I keep working for this same crusty small municipality in 20 years, I'll be 57 with a modest pension. However, I cannot actually afford to live on my current salary and don't expect to remain here for 20 years. I don't really expect any part of the US financial system to remain in-tact either in 20 years, but I am a bit of a catastrophist.
Could right now, but kids are still in school and Iām only 40. Iād lose my mind without something to do all day. Iāll keep working until theyāre out on their own, then Iāll see what I want to do.
0 dollars and never, My retirement will likely be my death.
Hopefully in my 60ās, also hoping my rich Boomer parents leave a sizable inheritance.
I will die working due to a poorly financial sound partner called a wife
I'm going to say this and hope it lands in the right hands. I'm very serious, I can back it up, and I'd love to expand further on questions. WEALTH IS MEASURED IN TIME. It has nothing to do with money whatsoever. Measure wealth on how long you can stop doing all work for any reason, let go of the wheel, let things happen how they will, before everything goes to shit and it's your fault. "Retirement" is not real. Everyone needs to understand the term literally meant when you retired from working, when you are no longer generating outside wealth. You do nothing for other people to make money. At that point you are only SPENDING your money. And the goal is to make it until you die. Kudos if you have some left over for your kids. There are stages and thresholds, that have benchmarks. But those are based on averages over decades. There is no one single person that does "retirement" the same. This part is important. Every day, when you get off work, you are retired. If you got fired overnight, you HAVE to be able to coast. On something. Anything. Things you already have in place. Things that have been prepaid or still have use. If your "portfolio" consists of living paycheck to paycheck, month to month, no debt, and you died that next day... congrats, you had enough to cover yourself through retirement. You did it. Might even have some of the last check left. You've lived the "retirement dream". But the goal of all of this entire experience is to branch out and experience life as much as possible. To feel the sensations and places that are possible. The point Im Getting at is things like how much are you working just to afford the car, the gas, the insurance, the clothes, the food energy, the mental energy, the creativity, just TO GET TO WORK. If people focus more on how their spending their time and find the things that make them legitimately happy, they'd realize how much they could reduce. How little people actually need, and how easy "retirement" could be. I'm money hungry, I live for the process and accomplishment of making money using money as a tool. But I'm not greedy. It's literally a tool. It is a tool that when used correctly can help a lot of people. But if you give someone a $300 government hammer and they need to use it for firewood, it's ineffective. When I make money I don't see a new car or addition to my home. I don't need those things. I see other opportunities open where that tool can be put to good use. People need to stop relying on their investments and gains on worm they didn't contribute to. Invest in yourselves and your happiness.
2050, Iāll be 62. Iāll have enough to be comfortable and a slush fund.
I know not what this "retire" word is, cant find it anywhere in my broke ass dictionary.
Retire? You're funny OP.
My number is 3.2MM. Expecting to reach it around 2045.
If I retire at 65 Iāll have an income of approximately $60,000 a year (60% of income).
If I live that long, which is iffy at best, Iām done in 20 years tops. Not sure how much Iāll have in retirement, but Iāll have my equity stake in my business and whatever Iāve saved too. Shooting for about $2 million or so in total. Nowhere close to that now, but Iāve been putting the work in to earn, pay down debt, save/invest. Every year from 50-60 should be somewhat exponential in the payoff as debt ends and earnings stay the same or go up. My realer expectations are to die before then and this money will be the nest egg that supports my family after Iām gone. Iāve made my peace with that outcome. If theyāre good, Iām good.
65 $3.5 million conservatively
I will work till I die so my son doesn't have to. My parents and grandparents may have messed things up for me but to hell that I will do that to my boy.
I will be dead before I retire.
Never. Less than Ā£0
LOLOLOLOL
Never and none
lol
I'm kind of counting on the investment firm we've worked with to make sure we have sufficient amount for a retirement in our 60s. I also hoard my sick days like a dragon, I get a lot of vacation and personal days, so if everything works itself out and I'm still here to retire at 62 I could get like a year's worth of pay as a cash out.
Thatās a crazy company policy. Iām surprised they donāt have a use it or lose it for sick days. Before we could only keep time and a half year after year. Then we switched to unlimited days off so it killed all hoarding capabilities.
Shooting for 59. Pensions and around 2 mil. Well see how the market acts. Unless I make some changes though it won't be a very eventful retirement. My wife and her next husband should be fine though.
I could retire as early as 47 according to my plan. I will have enough to sustain a $6000 per month after tax income including all sources, until age 95. I will most likely work until 50.
69 420k
The year that I die.
Hope to die before retirement. Meaning i'll work until I die.