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i have no interest in retiring or going over 65 I am very vain with no interest in OLDness. when that times comes give me a few Klonopin kocktails and lets call it a day .
I do not see what the big deal is, most of the world operates just fine without the hype of retirement savings, the US operates (or use to) just fine without this hyped up trend.
Is it good to have? Of course, but people act like it is the end of the world if they do not. Also, some are so intense into saving for retirement, they forget to live in the present (several of my acquaintances fall into this category).
Perhaps, but (1) much of the rest of world has a substantially stronger socioeconomic net if you do need help throughout one's life, including free healthcare and education, etc, (2) Savings rates abroad are generally (quite a bit) higher than those in the US and (3) People live, generally, somewhat more modestly (raising a family in an apartment is completely reasonable, whereas most families in the US expect a SFH) an (4) in certain cultures (admittedly not all), there's a much much stronger sense of duty among children to support their parents in old age.
So they make less of a big deal about it, because, well, it's less of a problem. To put it the other way, people in the US get less from their government, and instead of saving more, then to save less as well.
My strategy has been in place for a number of years. First and foremost a pension. Second, I discovered how fun it is to save money and watch it grow. Third Investments. Fourth, always look for bargains, or buy in bulk, for instance buy coors light in the 30 cube size. More bang for your buck.
I knew I didn't have enough money to live on in California when I decided to retire at age 49 from my U.S. government job, but I did it anyway, because I was truly burnt out physically and it was unbearable to work anymore due to my chronic lower back pain. Anyway, we didn't have any children! So, we sold everything we owned in California and we moved to the Philippines, our roots where the low cost of living was affordable to live on with my initial little pension until my other pensions kicked in 11 yrs later. 11 yrs later, the rest of my pensions kicked in and we're still here with more than enough income to live on comfortably for the rest of our lives. I guess things just worked out on their own, because we didn't even planned our future when I decided to quit working! Just fortunate with the COLAs over the years and my other pensions kicking in at age 60 and 62.
I am 28 and my wife is 25. I have maxed out my 401k since I was 22, my wife just started maxing her 401k last year. We have both been maxing our Roth IRAs for 3 years now. I also have another ~$40,000 in taxable mutual funds and we pay 150% of our mortgage.
My goal right now is to be able to retire by 55, using the principal portion of our Roth IRAs, and taxable investment accounts, to bridge us until we can touch our normal retirement funds. Not sure whether that is feasible or even a good plan but at least I know we are investing a ton for our age.
Even at 58 years old, we don't think a lot about retirement since we are too busy living now, in the moment since no one knows what tomorrow may bring. We have been living debt-free for many years. We are not wealthy, never expected to be but enjoyed moving around the country and visiting Disney World a few times from a distance crossing the country from our different locations. We live in a lower cost of living area. Many of our neighbors are older. I once knew a lady who said we should be saving for retirement like she and her husband were and not spending money traveling to places like Disney World until we retired. She died when she was 56, never traveling anywhere and penny pinching to try to meet savings goals. I think that someone who is able to understand the difference between a "need" and a "want" and isn't intent on trying to keep up with the Jones, can afford to retire. I cannot believe the number of individuals that go out and get a mortgage in their 50's and 60's, even for 30 years - a little optimistic for most. We have lived among retired individuals in 3 different states and it has taught us a lot about aging and the lives lived by those individuals that were most satisfied in retirement - money was not the big operative in their happiness.
I definitely agree that it takes a good balance of enjoying your life and preparing for the future. Although my wife and I max our 401ks, Roth IRAs, pay extra on our mortgage etc. like I stated above, we make sure to enjoy life as well.
Some of the best vacations are not always very expensive either. We took a cross-country train trip this summer with friends that was not terribly expensive and was one of the best vacations I have ever taken
how can you people enjoy life when you are worrying about retirement so much?
Everything will be just fine.... How many ppl do you see starving to death?
I don't see myself retiring. I will find a job I love and make a little money from it.
I don't think anyone here is "worrying" about retirement but rather "planning" for retirement. I worry about very few things but I PLAN for many things!
The mindset that "everything will be just fine" is completely irrational and absurd. Too many folks in this country think that everything will be fine in their latter years; no need to be fiscally conservative, no need to save money, why not spend everything you have on big houses and expensive cars...WRONG. These people are going to be forced to work until they drop OR they're going to retire and never will be able to afford to do anything in retirement because they simply don't have the money.
I absolutely CANNOT STAND people that think the government will take care of them in retirement...it's not going to happen, our nation can't afford to support tens of millions of leeches. Why should I, someone who saves and plans for retirement, be forced to support someone who blows all their money on stupid sh^t and never saves a damn dime for their "glory years"?! This is partially why our nation has become so divided; eventually it truly will be another civil war against the 'MAKERS' and the 'TAKERS' in this country. The 'MAKERS' are currently pulling the philosophical cart while the 'TAKERS' keep hopping in the back of the cart for a "free ride". They pile more and more weight in the cart while whipping the 'makers' with higher taxes and more regulations and there will become a point when the 'makers' simply stop pulling the cart, dump all the 'takers' out, and it's going to one massive showdown between the "haves" and the "have-nots". These LEECHES are going to try and break in every door and window in your home and rob you completely blind and you're going to have to shoot the blood-sucking, mindless zombies. This will be the TRUE apocalypse of this nation and I fear we're inching ever closer each day.
Anyway, my rant for the day is over.
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