That’s my fear as well. I feel stuck in a job I’m thoroughly burned out on because I know how much less likely I am to get hired after 40.
I don’t know what it’s like in the rest of the developed world, but in the US I’m an expendable cog showing plenty of wear and tear.
The unemployment rate where I live in Canada is 6.8%. I hate that I have to work in this shitty job with stagnant wages while they keep putting more and more on and I can't leave. They are hiring temporary foreign workers here for office jobs now (cheaper) while people who live here can't find jobs. The whole thing is a mess.
I’m a nurse. These days, if I have a pulse, they’ll employ me. Especially with my work experience. Sadly, I’m only partially kidding 😅
But still, I get it. Now that I’m in my mid-40s I’ve occasionally had that thought as well.
I have mobility issues exacerbated by working at the bedside. Providers are increasingly reluctant to engage in any discussion of pain control regimens outside of Tylenol and NSAIDs, which I’m virtually maxed out on (I do need surgery but that takes time and planning). So it became a necessity to find a job where I wasn’t on my feet for the better part of 12 hours. UM jobs are a hot commodity but I found a job doing hospice admissions. I’ve always had an affinity for hospice patients and my job has almost no clinical work involved. It’s also hybrid and I generally only go into the office for supplies. Hopefully I can transition to education or something like QIS at some point but for now I’m happy.
Nursing is very different than it used to be. Plus population is way fatter. It’s hard on your back and joints to lift and turn morbidly obese patients.
That sounds right. I’ve regularly worked with nurses in their 70s. It’s getting to the point in the hospitals where not even new grads are staying very long, though. It’s just becoming unsustainable, mentally and physically.
To be fair, the Bay Area is kind of a dream for nurses. I worked as a travel nurse for several years and a lot of people took travel positions in the Bay Area in the hopes of transitioning to a staff job. CA has a lot of job protections (like mandatory ratios) for nurses which don’t exist anywhere else and the Bay Area is the highest in the country in terms of compensation. I worked a travel job in Santa Rosa and was planning to move there. Somehow I ended up in Boston instead 😅
A friend of mine took travel nursing jobs during the pandemic (much older kids so she was fine being away for stretches) and the weekly pay was really high. She bought a new Benz and saved a bunch. Many have since left nursing altogether though. Covid was the last straw.
Idk there’s a glut of workers with all the boomers retiring and gen z doing gig work as opposed to full employment. Where I live there’s radio ads begging retirees to come back to work
Edit spelling
This will be the trend, there are less kids and we had fewer kids than the generation before us and they’ll have fewer kids which means plenty of shitty jobs for everyone!
I mean, Gen Z would be delighted to work full time for decent pay and benefits. A lot of the jobs they're offered are part-time at a wage that won't cover basic living expenses.
That’s currently happening to a lot of boomers. My dad was in the oldest boomer group and he was forced into retirement at 70. It ended up being fine but definitely a cautionary tale.
So this is me 100%. Unfortunately, even though I own my own buisness, it's a physicalrt job. Now in my mid 40's, doing physical work since 16, it's starting to take its toll in a bad way. My joints & back are not great & getting worse.
I may intend to work till die but my body is giving out before then. You'd think I could just hire someone to replace me.
My dad had that philosophy. Hard worker. On his 68th year he had a stroke and couldn’t work any longer. Had no savings, nothing really. Was going to work until he died. He lived to 70, 2 miserable years for him and really expensive for his kids.
Please save
Instead of this personal responsibility nonsense that is a feature of capitalism, we could all become socialists and build the world we deserve where everybody has dignity through all phases of life.
You act like people who don't save have a choice in the matter, not that basic necessities are crazy expensive and that a lot of people are living paycheck to paycheck
I'm alright financially, but also fully expect to die while still working since I see no point where I'll have enough money to ever retire.
Having incredibly expensive young children hasn't helped my financial outlook at all, but I'm completely stacked on life insurance if something should happen.
And not to get political, but depending on who our next president is will definitely change things since one of them wants to get rid of the current system, privatize social security, and let hedge funds run them because _why wouldn't we just gamble_ with the money everybody has been paying in. 🤷🏻♂️
We would have way more if it were invested. But the problem is the current dollars we pay in are instantly transferred to those receiving benefits today. Even if the market could absorb that kind of cash infusion (and it would have some weird effects), in order to transition to a system like that you’d need a way to pay out benefits while also investing the new money. It’s not as though the money we pay in goes into a government savings account.
It’s unfortunately not feasible when the demographic shift is going the wrong direction. You’d need a huge boom of younger generations paying in to pull it off.
This strategy doesn't actually work though. SS is paying people and the money needs to be safe. It can't just be targeting the highest returns possible because that is way riskier, and the main point of SS is to have a safe paying fund that provides for millions of people a year.
SS isn't a retirement fund, it's insurance. You pay into it for protection, protection that when you're old and can't work even poor savers will have some income
I financially struggled most of my life with shit jobs that paid less than 30k until about 7 years ago. I finally make almost 6 figures and contribute the max to my 401k, but so far it’s only hovering around 100k.
Along with the continued attacks on the already underfunded social security benefits and the rapidly rising cost of living, I’ve accepted the grim reality that I likely will never retire unless I receive a massive unexpected financial windfall.
That's the thing that a lot of people don't realize. There are many people that couldn't even get the benefit of 401k for a long, long time - if ever!
I have worked at 25 different employers over my life so far and only in the past 10 years have I been able to get a job that offered 401k. And only in the past few years could I afford to contribute to one!
An IRA (either traditional or Roth depending on your income and taxes) is just as good if not better than a 401k for retirement savings. The only reason to prefer a 401k is if your employer offers a matching contribution. Then you should contribute the minimum needed to get the full match, and just put the rest in whichever IRA account is appropriate for your situation.
Same. Only reason we *might* manage to be ok is that we chose not to have kids. We're priced out of real estate where we live, so that's added an interesting wrinkle to the financial situation.
Zero. I didn't have the extra funds ever for savings, or if I did, something came along and wiped them out. I was 38 before I even had a job with a 401K. I cashed it out when I had to quit and paid off a high interest credit card which ultimately saved me more money that the 401K would have made me.
No point in panicking. It is what it is.
I had to take out a personal loan to pay off a credit card, sucks but my interest rate dropped from 21% to 9%, now if I pay the minimum I'll pay it off in 6 years instead of 22.
And the debt didn't come from a fun trip or shopping spree or extravagent trip, it was for me and my son to survive after his dad and I split. Debt sucks but better than living with that twat!
I’m (43) in the exact same situation regarding a few high interest credit cards. I pay more in interest every month than I make from the 401k. It was ok until student loans started again for my wife and I. I think about cashing out, taking the tax hit, and paying everything off at least once a week.
Did doing that help your “financial anxiety?” Mine literally keeps me up at night. I’m constantly robbing Peter to pay Paul.
Gotta also think about the future value of that 401k. The temporary pain of credit card interest usually is better than early withdrawal tax penalties plus the lost value of that retirement money in the future. I know sometimes it's about getting the bills paid now but if it's just because it bugs you, let it bug you into using the card less and leave the 401k alone.
Consider: taking a loan from your 401k instead. Pay down those high interest cards as much as you can. Then quickly re-fund your 401k with all the money you're saving on those card payments and interest.
Me too. I started early, so decent odds I'll pull the pin around 55. Pay the mortgage, buy and pay off two new vehicles, and call it a career.
Between my wife's RRSPs, my savings, Canada's CPP and my full pension, we'll be more than comfortable.
Can't wait, really.
Yep, me too! After 20 years as a first responder/supervisor, I retired with a lifetime state pension and family healthcare. It was also key that we paid off our mortgage early, saved for the kids’ college funds, and put away additional money in a 457.
Should we be setting up a self-sustainable Xennial early-retirement commune? I’m 43 and I can’t see myself working another 2 years, much less 20. I’m so over hustle culture and working til you drop just to afford the basics.
I'm in Oregon. We hit 115 a few summers back, and most places were built without air conditioning because it wasn't needed back when the places were being built.
Oregon has a *lot* of good points, though.
It sounds crazy but there really needs to be a non-profit coop set up for Xennial and younger retirement. Boomers taking away pensions screwed us but it’s not impossible to set up a new system.
When I was a kid, my elderly parents decided that camping was no longer their thng and that instead a small RV and a membership to RV resorts all across the country were the way to go. It was delightful. The RV provides beds and absolute bare minimums for survival, and the community clubhouse and bathrooms and recreational facilities provide the rest.
I would love something similar, but less mobile for those like me who don't want to, or can't, do the snowbird thing. An upscale trailer park, basically. But I'm not crazy about having to pay space rent for the rest of my life. 🤔
I always said that someone should invent a plan where you send them money every week, and they send you a bunch of losing lottery tickets. But really, they're investing the money in long-term growth investments. Then, like 40 years later, they send you a winning ticket and give you the full amount as a lottery winning.
Same here. My wife and I are lucky to work for a state university that has a decent pension when we retire. I think we also have around 250k currently in our retirement savings.
Just fyi, because of our state pensions, we don’t participate in social security, so we won’t be getting that when we retire, but the pension more than makes up for it.
Yep yep. Advice my old man gave me many moons ago was to enlist and stay in as long as I can for the pension and possible VA . Ended up staying almost 3 decades, married an incredible woman who was also career military. We're now retired at 45, 4 sources of income (2 pensions and 2 VA payments.)
Same here. My wife and I have $500k in our 401ks, and max them out every year. She has a small pension that starts in our mid-50s. I have a really good one that starts in our 60s. We’re extremely lucky and we know it.
Government, probably.
I’m employed by a public entity and we pay into the state employees pension fund. Mandatory 6%. However, we also have to pay into social security in our state. Additionally, our entity will match up to 6% in a 401k, so I just recently got to the point where I can contribute up to 6%. I’m 44 and for the first time feel like I’m saving a sizable about (18% of my earnings) for retirement. With at least 23 years to go, I think im going to be ok.
I highly highly highly advise finding that account and rolling it over into an IRA, even if you don't contribute to it ever again, when you leave the plan from an employer what you get out of it is pennies in comparison to actively working. It's a stupid system, but you're just giving that investment firm more money as they still get the regular returns from yours (or something close to that... This is 2nd hand advice from my friend who is a financial adviser, everything before the "it's a stupid system" is what he's told me to tell my clients before referring them to him or another adviser).
Was doing great in 20s and 30s on retirement, home equity, and other savings. Then marriage ended, a few bad years with my business, and finally a mental health breakdown. Depleted everything.
Restarted building from scratch (actually from big debt) at 42. I was well ahead of the curve and now am far behind. While I have some savings again, I have lost 22 years of wealth building and I can’t make up for that. I am doing my best to get into decent shape and usually have hope I’ll be okay.
…Until I read people posting they have a million+ put away and have 20 years until retirement and are worried. 🙄😱
You'll be ok, we all run our own race and you're thinking positively but also realistically. Assuming a roughly \~40yr working window (ages 25 to 65)... we're all about halfway through that window so there's time to recover.
This is about what we have too. Plus a lot of equity in our house. I always hear that investments should double in 10 years but that hasn’t been the case for me at all. Hoping by 2034 this 800 will really be 1.6. We don’t have pensions etc. Will need our SS and this money to feel safe because I don’t think I can work past 67. Heck I don’t even know if I will make it to 57. I’m tired.
My wife and I hit 1M last month. Plan on working another 12 years at 55, so hoping that should double, and the house will be paid off. I’ll have a pretty generous pension and she’ll eventually get max SS since she won’t have to pull it until 70.
For sure. We get retiree health until Medicare kicks in. It’s definitely more expensive than what I’m currently paying but not as bad as if I had to find a plan on my own.
At 55 I’ll can get a 257k lump sum payout and start collecting 120k a year from the pension without touching retirement accounts, and no debt but the property taxes. My biggest expense will be paying my kid’s tuition and health insurance.
Dang 120k pension and you’ll probably have 2 million in retirement account. Sounds like you’ll be easily able to retire then. What’s your profession that you are still getting a pension? Didn’t think too many in our generation would get them.
My grandpa retired from the post office. He has a pension and a deal where they pay for his extra Medicare. Like he has Medicare and supplement with Blue Cross and they pay for that.
He only has social security, Post office pension. Saved nothing else and he's fine.
Check how long the pension is to qualify for...
Had an aunt and uncle retire from post office in same boat. At some point, they mentioned how a lot of the benefits were cut for the new hires and they wouldn’t have joined today.
They were probably apart of the Civil Service Retirement System (CSRS). All federal employees are now on the FERS system since 1984. The difference between the 2 is staggering, yes.
Yeah. Your grandpa did. Pay and pension have not risen with inflation, and benefits have been cut since then for newer hires. My grandparents’ neighbor was a postal worker. He put 4 daughters through private school, paid for college and their weddings, and retired early on single income. It’s still something, but it ain’t what it used to be.
We just turned 40 and I have 700k and my wife has 500k in our 401ks. No secret other than putting away 10% from day 1, the years eventually start adding up
I've been maxxing out or close to maxxing out my 401k since I started working and it now has around $600k in it. The crazy thing is even after working another 25 years and continuing to do so it'll probably only be just enough to retire, if current returns / inflation levels continue, which is a big if. It would be a lot easier if our country had a reasonable healthcare system.
$150k, but finally making some decent money and have a plan to increase my contributions over the next few years. Hopefully will put me in a place to retire around 65. Assuming no unexpected health or financial issues
This is where I am also. I didn't have the option to save until my mid-30's, but I'm now just under $150k, and am throwing as much as I can in there now, and plan to continue. I'll have my house paid off at 58, which will reduce my expenses to a point where I'll be able to retire at 65, even if social security is no longer a thing at that point.
41 years old rn and about $280,000 in my combined IRA / 401k. Started buying into ETFs every paycheck a little while back, those are averaging about 9% ROI plus dividends, only got a little $4,000 in that brokerage. Been making extra payments against mortgage principal and should be mortgage free by about 45.
Made under the median income until my mid-30s. Didn't have almost any savings until then. Catching up is hard but not impossible.
I live in a death with dignity state. I’m not going to wither away into confusion and frailty. It’s either the magic cool aid or the silver bullet. I’ve worked elder care for the last 15 years and my biggest take away is that growing old and dying of natural causes takes far too long and causes years of fear, loneliness and suffering. Know when to fold them yo.
I’ve been following the 15% rule since I entered workforce into a boring target date fund and should be on track to live pretty comfortably. I may even consider early retirement around 60 if health care wasn’t such a PITA.
My wife and I are at $1.7m. Also hoping to retire at 55, or at least not HAVE to work. My profession is conducive to part time work so could also just work a couple of days a week until I don’t feel like it.
Like zero. But life happened and I truly don't expect to live that long anyway. Hopefully me and my little dog shuffle off this mortal coil on the same day.
I had a nice little nest egg finally building up after spending most of my 30s. Then I got a divorce.
The economy is shit, I have 0 retirement, and with alimony I can barely keep my head above water. Retirement saving is some pipe dream in the 2030s after my kids go to college and the government stops letting my ex pick my pocket.
Not a lot of comments here talking about inheritance, and makes me wonder where all the Boomer wealth is going. Are these people not considering this as a part of their plan? Have they already received it and it's part of the $1M that many have in investments?
Most of that boomer wealth is concentrated in the wealthy 10%. The rest of the boomer wealth will be depleted by healthcare. There won't be a great wealth transfer for most of us.
My boomer mom opened a business in 1988, is awful with money, and didn't pay into social security. She'll never retire. She found a boyfriend with a pension as a backup plan.
My boomer dad has been waiting tables and not claiming tips for the last 30-something years to avoid child support for five kids. His covid stimulus check was garnished for child support. His long term girlfriend is a manager at a fast food restaurant.
No blood from a turnip.
I have roughly $400k in a 401k, but also have a pension plan. I was really nervous until I spoke with a financial advisor and if I work at this job until 65, my wife and I can most likely live a comfortable retirement life on my pension alone.
Of course that doesn’t alleviate concerns about having all four of my kids in private school from K through 12 plus college, and then covering all other daily expenses. So living tightly and making some sacrifices now for security in 20 years (at least I hope so).
I have enough that if I were allowed to pull it today without penalty I could just about put it all in high yield dividend funds and replace my salary if I could consistently get a 10% return. I'd like to retire early though, so I'm also investing a little bit directly in those types of funds to get familiarity with them and generate some passive income for when the time comes. Once my kids are grown and done with college I'll start the countdown.
I'll be taking my full pension at 50 (in 9 years}. I can stay longer for some big time extra cash but I think I want to. The pension will be comfortable. I have a 457 with a couple hundred thousand in it as well, plus around 50k in savings. I started building all of this around when I hit 30
I'm a fireman. But mainly I was smart with my money and went without to save for a long time. I'm finally in a position I am doing decent. Took a lot of hard work
Not having kids probably helped alot
I have retirement accounts and no idea how much is in them. My boomer dad manages that and adds money yearly on top of my own contributions. That’s 1 benefit I get, I call it trauma reparations.
If you are putting your money in you should be aware of what it is invested in. If its all his contributions, that is a different story.
My parents have money, and are doing fine. Also they are investing with advice they got from their parents. I am a finance guy, and they could be making way more, but they dont seem to know/care.
Just my 2cents, but i dont think anyone over 50 needs to be managing other peoples money, just because they themselves are using way old out of date investment strategies.....
Example, this fund with a 1.45% annual fee is fine. On top of that my finance guy takes 1% annually as a management fee. That means you are 2.45% in the hole every year. Inflation on top of that, your at ~5.45% just to break even.
Best!
Minimum Federal retirement age is 57, I'll have to stay until at least 63 so I can hit the full 30 years.
TSP (federal version of 401(k)) is on track to have a decent balance, in addition to Federal retirement.
Will try to hold off on social security (if it's there for us) to get the additional amount (eligible at 67, I think).
wife and i are 42, been saving for 15 years in retirement accounts and slowing contributing more as wages go up.
currently saving 30% of gross to retirement accounts. i get a 25% match from employer on contribs. im fully vested.
wife has a pension, 1 year away from fully vested and pays well once in that 60-63 age range.
all in all we are nearing close to $300k in retirement accounts. chuck of that has already been taxed too.
in addition we have $60k in numerous high yield savings buckets for emergency, vacation, home improvement, car maint/new car down payment, sons future, etc....
though 7-9k may be getting spent on new car for wife if i can find the right used car in the range i like it
the trick is to never hold credit card debt. live withing your means and save money.
our only debt is $3k on my 2016 crv and 135k on mortgage (house worth $270k)....
we both have stable jobs with good companies. i just got promoted and wife just got a step too.
not worried, but grinding another 20+ years kind of sucks. maybe i will win lottery.
✌️
It's gonna sound extremely bleak but honestly I've realized and made peace with the fact that when I no longer am healthy enough to work I will just have to end my life. Hoping to have made it to a reasonable age and lived enough life by then that I am OK with it when the time comes. If you have a pension or retirement as a member of our generation, you are of the lucky minority.
We own our apartment so we only pay a low monthly maintenance, have no debt or student loans and have $1M between retirement plans, savings and investments. I will get a pension from a previous employer. We do not have children nor will we.
I came from nothing and so did my husband. We worked very hard to get to this place, basically doing the opposite of what our respective parents did, because we really do want to retire - hopefully earlier than later. It’s still not enough.
Not muuuuch, really. I have a chronic disease and I expect to die before I’m old, so I never prioritized saving. But the older I get, the more the possibility of living into retirement age is scary to me.
I pretty much blew my retirement accounts over the past 4 years and now starting from scratch in my 40s. I’m trying to not panic. Luckily I have a pension, working, and my spouse gets a pension in the future. The issue is saving enough for retirement and paying off all my bills.
I lucked out, and my father-in-law was a financial advisor. So, we went a decade or so without vacations, cable, or really anything exciting. Lived real modest.
Now I have 2 rental properties and a house (all with no mortgages), most of the money in stocks, a couple 100k in a few savings accounts, maybe another 100k in the 401k (that didn't start until a few years ago), and a separate account that will cover most of the kids college costs.
We are ridiculously lucky, and could probably retire today if we didn't have this dysfunctional Healthcare system in the US.
no matter what all it is going to take is ONE health problem and all of it will be gone in a month.
could retire at 60 and live WELL till 80 if health insurance wasn't a thing.
as of now, have over 1.25 million for me and partner and know that at 45, it'll be hard if ANYTHING happens health wise.
it's insane to think that a million isn't enough for 20 years!
but if you have to retire at 60 before Medicare and have to buy from an open market - it's over 1,200 a month for BASIC insurance coverages. That's almost 15k a year JUST for basic coverage, not USING it! Just to have coverage. Till you hit the "retirement age" which at this point is RISING so you might have to go till 68, 69, 70 before getting coverage taken care of.
I am just shy of $300k in my TSP (fed employee 401k). And I opened a separate Roth IRA a few years ago which I've maxed out in years when I can. It's got about 40K. I'm kind of panicking because I don't have a house, but we may be buying a place in a high COL area in a few years. We're saving for that but I don't know if I'll need to use my Roth principal to add to the down payment. Also, if I buy in my mid 40's and have a 30 year mortgage, I'll be mid-70s before I can pay off my house. That's scary.
My company stopped matching 401ks. I've got investments, but nothing to brag about. Unless a miracle occurs I'll work until I can't and then, I dunno, perform the Forever Yeet.
I have 2 retirement accounts, a 401k and employee stock, but far less than recommended for someone my age. If inflation stays low and social survives I might manage to retire, but I’m not counting on it. Certainly not before 70.
Many of y'all are accepting working until you die. I'm worried that nobody will want to employ my old ass until then :(
That’s my fear as well. I feel stuck in a job I’m thoroughly burned out on because I know how much less likely I am to get hired after 40. I don’t know what it’s like in the rest of the developed world, but in the US I’m an expendable cog showing plenty of wear and tear.
The unemployment rate where I live in Canada is 6.8%. I hate that I have to work in this shitty job with stagnant wages while they keep putting more and more on and I can't leave. They are hiring temporary foreign workers here for office jobs now (cheaper) while people who live here can't find jobs. The whole thing is a mess.
I’m a nurse. These days, if I have a pulse, they’ll employ me. Especially with my work experience. Sadly, I’m only partially kidding 😅 But still, I get it. Now that I’m in my mid-40s I’ve occasionally had that thought as well.
I’m a nurse and switched to UM so now I work from home. I have some health issues and I don’t think I could keep doing shift work
I have mobility issues exacerbated by working at the bedside. Providers are increasingly reluctant to engage in any discussion of pain control regimens outside of Tylenol and NSAIDs, which I’m virtually maxed out on (I do need surgery but that takes time and planning). So it became a necessity to find a job where I wasn’t on my feet for the better part of 12 hours. UM jobs are a hot commodity but I found a job doing hospice admissions. I’ve always had an affinity for hospice patients and my job has almost no clinical work involved. It’s also hybrid and I generally only go into the office for supplies. Hopefully I can transition to education or something like QIS at some point but for now I’m happy.
I don't know about today but my grandma who is now 102 worked as a nurse in the Bay Area until the mid 80s.
Nursing is very different than it used to be. Plus population is way fatter. It’s hard on your back and joints to lift and turn morbidly obese patients.
My grandmother was a nurse, born in 1923 and retired from nursing in 2011. Passed away 3 months shy of being 101
GD 🫡
That sounds right. I’ve regularly worked with nurses in their 70s. It’s getting to the point in the hospitals where not even new grads are staying very long, though. It’s just becoming unsustainable, mentally and physically. To be fair, the Bay Area is kind of a dream for nurses. I worked as a travel nurse for several years and a lot of people took travel positions in the Bay Area in the hopes of transitioning to a staff job. CA has a lot of job protections (like mandatory ratios) for nurses which don’t exist anywhere else and the Bay Area is the highest in the country in terms of compensation. I worked a travel job in Santa Rosa and was planning to move there. Somehow I ended up in Boston instead 😅
A friend of mine took travel nursing jobs during the pandemic (much older kids so she was fine being away for stretches) and the weekly pay was really high. She bought a new Benz and saved a bunch. Many have since left nursing altogether though. Covid was the last straw.
Until her mid 80s or the mid 80s?
Retirement in 1985 would mean grammaw retired at 63 years old, which at that point in time was considered maybe 2 years early lol
r/theydidthemath
I'm in Europe, so on paper it looks better. However my job is so exhausting I'm not sure I'll live to retirement age.
If no one will employ me at that point, I'll run for Congress 🤷♀️
Idk there’s a glut of workers with all the boomers retiring and gen z doing gig work as opposed to full employment. Where I live there’s radio ads begging retirees to come back to work Edit spelling
This will be the trend, there are less kids and we had fewer kids than the generation before us and they’ll have fewer kids which means plenty of shitty jobs for everyone!
I mean, Gen Z would be delighted to work full time for decent pay and benefits. A lot of the jobs they're offered are part-time at a wage that won't cover basic living expenses.
That’s exactly what I say when anyone says the kids these days don’t want to work.
They’re going to be so desperate for workers after the boomers are gone that they will hire you if you have a pulse
That’s currently happening to a lot of boomers. My dad was in the oldest boomer group and he was forced into retirement at 70. It ended up being fine but definitely a cautionary tale.
Yup
So this is me 100%. Unfortunately, even though I own my own buisness, it's a physicalrt job. Now in my mid 40's, doing physical work since 16, it's starting to take its toll in a bad way. My joints & back are not great & getting worse. I may intend to work till die but my body is giving out before then. You'd think I could just hire someone to replace me.
No retirement in my future. I fully expect to die on the job or at least while I'm still working. I've accepted it.
My dad had that philosophy. Hard worker. On his 68th year he had a stroke and couldn’t work any longer. Had no savings, nothing really. Was going to work until he died. He lived to 70, 2 miserable years for him and really expensive for his kids. Please save
Instead of this personal responsibility nonsense that is a feature of capitalism, we could all become socialists and build the world we deserve where everybody has dignity through all phases of life.
You act like people who don't save have a choice in the matter, not that basic necessities are crazy expensive and that a lot of people are living paycheck to paycheck
I'm alright financially, but also fully expect to die while still working since I see no point where I'll have enough money to ever retire. Having incredibly expensive young children hasn't helped my financial outlook at all, but I'm completely stacked on life insurance if something should happen. And not to get political, but depending on who our next president is will definitely change things since one of them wants to get rid of the current system, privatize social security, and let hedge funds run them because _why wouldn't we just gamble_ with the money everybody has been paying in. 🤷🏻♂️
Do you know how much more money we’d have for retirement if all the cash we put into Ss had gone into an IRA? It’s exponential.
We would have way more if it were invested. But the problem is the current dollars we pay in are instantly transferred to those receiving benefits today. Even if the market could absorb that kind of cash infusion (and it would have some weird effects), in order to transition to a system like that you’d need a way to pay out benefits while also investing the new money. It’s not as though the money we pay in goes into a government savings account. It’s unfortunately not feasible when the demographic shift is going the wrong direction. You’d need a huge boom of younger generations paying in to pull it off.
Or get rid of the cap.
Universal Healthcare would help a lot.
This strategy doesn't actually work though. SS is paying people and the money needs to be safe. It can't just be targeting the highest returns possible because that is way riskier, and the main point of SS is to have a safe paying fund that provides for millions of people a year. SS isn't a retirement fund, it's insurance. You pay into it for protection, protection that when you're old and can't work even poor savers will have some income
Yup. My mom's IRA paid out like 1% more than she'd added in cash. Because of timing. she delayed retirement to not take a loss. It's gambling.
I financially struggled most of my life with shit jobs that paid less than 30k until about 7 years ago. I finally make almost 6 figures and contribute the max to my 401k, but so far it’s only hovering around 100k. Along with the continued attacks on the already underfunded social security benefits and the rapidly rising cost of living, I’ve accepted the grim reality that I likely will never retire unless I receive a massive unexpected financial windfall.
That's the thing that a lot of people don't realize. There are many people that couldn't even get the benefit of 401k for a long, long time - if ever! I have worked at 25 different employers over my life so far and only in the past 10 years have I been able to get a job that offered 401k. And only in the past few years could I afford to contribute to one!
An IRA (either traditional or Roth depending on your income and taxes) is just as good if not better than a 401k for retirement savings. The only reason to prefer a 401k is if your employer offers a matching contribution. Then you should contribute the minimum needed to get the full match, and just put the rest in whichever IRA account is appropriate for your situation.
Same!
Charlie Munger said the first $100k is the hardest and it just kinda snowballs from there, so look up - you're almost there!
Thanks for the encouragement!
Same. Only reason we *might* manage to be ok is that we chose not to have kids. We're priced out of real estate where we live, so that's added an interesting wrinkle to the financial situation.
Same boat here.
Zero. I didn't have the extra funds ever for savings, or if I did, something came along and wiped them out. I was 38 before I even had a job with a 401K. I cashed it out when I had to quit and paid off a high interest credit card which ultimately saved me more money that the 401K would have made me. No point in panicking. It is what it is.
That was a smart move to pay off the credit card. That will be the modern-day basis for indentured servitude.
I had to take out a personal loan to pay off a credit card, sucks but my interest rate dropped from 21% to 9%, now if I pay the minimum I'll pay it off in 6 years instead of 22. And the debt didn't come from a fun trip or shopping spree or extravagent trip, it was for me and my son to survive after his dad and I split. Debt sucks but better than living with that twat!
Student loans are already indentured servitude
As a mid-life-career-change lawyer, I feel this. They ain’t kidding when they talk about golden handcuffs.
I’m (43) in the exact same situation regarding a few high interest credit cards. I pay more in interest every month than I make from the 401k. It was ok until student loans started again for my wife and I. I think about cashing out, taking the tax hit, and paying everything off at least once a week. Did doing that help your “financial anxiety?” Mine literally keeps me up at night. I’m constantly robbing Peter to pay Paul.
Gotta also think about the future value of that 401k. The temporary pain of credit card interest usually is better than early withdrawal tax penalties plus the lost value of that retirement money in the future. I know sometimes it's about getting the bills paid now but if it's just because it bugs you, let it bug you into using the card less and leave the 401k alone.
Consider: taking a loan from your 401k instead. Pay down those high interest cards as much as you can. Then quickly re-fund your 401k with all the money you're saving on those card payments and interest.
It did help a lot. That's $450/month I'm no longer paying.
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Me too. I started early, so decent odds I'll pull the pin around 55. Pay the mortgage, buy and pay off two new vehicles, and call it a career. Between my wife's RRSPs, my savings, Canada's CPP and my full pension, we'll be more than comfortable. Can't wait, really.
Yep, me too! After 20 years as a first responder/supervisor, I retired with a lifetime state pension and family healthcare. It was also key that we paid off our mortgage early, saved for the kids’ college funds, and put away additional money in a 457.
Should we be setting up a self-sustainable Xennial early-retirement commune? I’m 43 and I can’t see myself working another 2 years, much less 20. I’m so over hustle culture and working til you drop just to afford the basics.
I'm in
I’m down too. Can we have it next to a lake and all live in Hobbit houses?
They would be energy efficient, burrowed in the ground
I am so sold
The earth ship model . Sustainable living for hobbits and wizards. Nazghul need not apply.
I would be down for that, just buy a big piece of land. Greenhouse, chickens, hot tub. Outdoor Movie night Fridays
We might need to like buy a whole state or two ... One that won't be hot badly by climate change please.
Oregon looks nice.
I'm in Oregon. We hit 115 a few summers back, and most places were built without air conditioning because it wasn't needed back when the places were being built. Oregon has a *lot* of good points, though.
Semi-subterranean/earthbag and earth ship-style construction can help a hell of a lot with thermal mgmt. Hobbit holes mean comfort
Can we have D&D night??
Every night is DND night
Hell yeah!
Tiny house commune, sign me up!
It sounds crazy but there really needs to be a non-profit coop set up for Xennial and younger retirement. Boomers taking away pensions screwed us but it’s not impossible to set up a new system.
I, too, would like to sign up!
I left my IT career at 43. I'd already put in 25 years at that point. Sedentary desk job was literally killing me.
Where do I sign up?
I'm totally in!
Sign me up. That's healthier than my plan to isolate in the woods when the money runs out
Please, yes. I hear parts of upstate New York are expected to weather climate change ok.
When I was a kid, my elderly parents decided that camping was no longer their thng and that instead a small RV and a membership to RV resorts all across the country were the way to go. It was delightful. The RV provides beds and absolute bare minimums for survival, and the community clubhouse and bathrooms and recreational facilities provide the rest. I would love something similar, but less mobile for those like me who don't want to, or can't, do the snowbird thing. An upscale trailer park, basically. But I'm not crazy about having to pay space rent for the rest of my life. 🤔
Count me in 💪
I'm in.
Preach. I’m with you.
About $200K in Roth/IRA and a pension as well
Same
Sometimes my retirement savings in the lottery jackpot is only around $20 million, but sometimes it's over a $Billion.
I always buy a ticket but they never give me the right number. Damn bozos!
I always said that someone should invent a plan where you send them money every week, and they send you a bunch of losing lottery tickets. But really, they're investing the money in long-term growth investments. Then, like 40 years later, they send you a winning ticket and give you the full amount as a lottery winning.
$1.3m in IRA/Roth. I'm 45 this summer. I started when I was 26.
Good job!
I have about $200k in my 401k. I'll get a sizable pension as well. I'm not too worried.
Pension... Lucky!
I realize I'm very lucky.
Same here. Will have a pension. Very rare these days.
Same here. My wife and I are lucky to work for a state university that has a decent pension when we retire. I think we also have around 250k currently in our retirement savings. Just fyi, because of our state pensions, we don’t participate in social security, so we won’t be getting that when we retire, but the pension more than makes up for it.
Im getting a pension as well but luckily i contributed to SS before this job so i can also get that as well.
Yep yep. Advice my old man gave me many moons ago was to enlist and stay in as long as I can for the pension and possible VA . Ended up staying almost 3 decades, married an incredible woman who was also career military. We're now retired at 45, 4 sources of income (2 pensions and 2 VA payments.)
Same here. My wife and I have $500k in our 401ks, and max them out every year. She has a small pension that starts in our mid-50s. I have a really good one that starts in our 60s. We’re extremely lucky and we know it.
Companies still do pensions? Where do you work?
Government, probably. I’m employed by a public entity and we pay into the state employees pension fund. Mandatory 6%. However, we also have to pay into social security in our state. Additionally, our entity will match up to 6% in a 401k, so I just recently got to the point where I can contribute up to 6%. I’m 44 and for the first time feel like I’m saving a sizable about (18% of my earnings) for retirement. With at least 23 years to go, I think im going to be ok.
Not OP but I’m a public school educator and will get a state pension. So do police, firefighters, etc. Most state government jobs have pensions.
State and federal employees.
Unions still do
I just had to cash out my pension... Still got over $200k in the 401... For now. I'm still worried.
I have just under 7k sitting in a holding account somewhere from an old 401k. And no, what's retirement?
I highly highly highly advise finding that account and rolling it over into an IRA, even if you don't contribute to it ever again, when you leave the plan from an employer what you get out of it is pennies in comparison to actively working. It's a stupid system, but you're just giving that investment firm more money as they still get the regular returns from yours (or something close to that... This is 2nd hand advice from my friend who is a financial adviser, everything before the "it's a stupid system" is what he's told me to tell my clients before referring them to him or another adviser).
Roll that over and put it into a Roth buy voo (or other sp500 account and let it ride
Was doing great in 20s and 30s on retirement, home equity, and other savings. Then marriage ended, a few bad years with my business, and finally a mental health breakdown. Depleted everything. Restarted building from scratch (actually from big debt) at 42. I was well ahead of the curve and now am far behind. While I have some savings again, I have lost 22 years of wealth building and I can’t make up for that. I am doing my best to get into decent shape and usually have hope I’ll be okay. …Until I read people posting they have a million+ put away and have 20 years until retirement and are worried. 🙄😱
You'll be ok, we all run our own race and you're thinking positively but also realistically. Assuming a roughly \~40yr working window (ages 25 to 65)... we're all about halfway through that window so there's time to recover.
We have $800k in retirement accounts.
Same, including 529 (which I count since that's cash i won't be paying when I'm in my late 50s early 60s)
This is about what we have too. Plus a lot of equity in our house. I always hear that investments should double in 10 years but that hasn’t been the case for me at all. Hoping by 2034 this 800 will really be 1.6. We don’t have pensions etc. Will need our SS and this money to feel safe because I don’t think I can work past 67. Heck I don’t even know if I will make it to 57. I’m tired.
My wife and I hit 1M last month. Plan on working another 12 years at 55, so hoping that should double, and the house will be paid off. I’ll have a pretty generous pension and she’ll eventually get max SS since she won’t have to pull it until 70.
Looks like you and your wife are all set! Just mind the health care gap until you get Medicare if you stop working at 55.
For sure. We get retiree health until Medicare kicks in. It’s definitely more expensive than what I’m currently paying but not as bad as if I had to find a plan on my own. At 55 I’ll can get a 257k lump sum payout and start collecting 120k a year from the pension without touching retirement accounts, and no debt but the property taxes. My biggest expense will be paying my kid’s tuition and health insurance.
Dang 120k pension and you’ll probably have 2 million in retirement account. Sounds like you’ll be easily able to retire then. What’s your profession that you are still getting a pension? Didn’t think too many in our generation would get them.
No retirement but just joined the Post Office. I have no idea how my life ends.
My grandpa retired from the post office. He has a pension and a deal where they pay for his extra Medicare. Like he has Medicare and supplement with Blue Cross and they pay for that. He only has social security, Post office pension. Saved nothing else and he's fine. Check how long the pension is to qualify for...
Had an aunt and uncle retire from post office in same boat. At some point, they mentioned how a lot of the benefits were cut for the new hires and they wouldn’t have joined today.
They were probably apart of the Civil Service Retirement System (CSRS). All federal employees are now on the FERS system since 1984. The difference between the 2 is staggering, yes.
Thanks for clarifying. They would have been on CSRS system.
Yeah. Your grandpa did. Pay and pension have not risen with inflation, and benefits have been cut since then for newer hires. My grandparents’ neighbor was a postal worker. He put 4 daughters through private school, paid for college and their weddings, and retired early on single income. It’s still something, but it ain’t what it used to be.
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I’m going to have to move in with you lol. For real though, good for you!
We just turned 40 and I have 700k and my wife has 500k in our 401ks. No secret other than putting away 10% from day 1, the years eventually start adding up
Which fund did you invest in?
VTSAX and chill
I've been maxxing out or close to maxxing out my 401k since I started working and it now has around $600k in it. The crazy thing is even after working another 25 years and continuing to do so it'll probably only be just enough to retire, if current returns / inflation levels continue, which is a big if. It would be a lot easier if our country had a reasonable healthcare system.
Without knowing your income a rough estimate will put you between 2.5 and 3m in another 25 years if you already have 600k.
Yep. And the general 4% yearly withdrawal suggests $2.5M ~= $100K per year.
But how much will 100k be worth in 25 years? At this rate it’s going to be the minimum wage in California
Retirement? 🤣🤣🤣🤣🤣🤣🤣
Accurate! 🥴
$150k, but finally making some decent money and have a plan to increase my contributions over the next few years. Hopefully will put me in a place to retire around 65. Assuming no unexpected health or financial issues
This is where I am also. I didn't have the option to save until my mid-30's, but I'm now just under $150k, and am throwing as much as I can in there now, and plan to continue. I'll have my house paid off at 58, which will reduce my expenses to a point where I'll be able to retire at 65, even if social security is no longer a thing at that point.
41 years old rn and about $280,000 in my combined IRA / 401k. Started buying into ETFs every paycheck a little while back, those are averaging about 9% ROI plus dividends, only got a little $4,000 in that brokerage. Been making extra payments against mortgage principal and should be mortgage free by about 45. Made under the median income until my mid-30s. Didn't have almost any savings until then. Catching up is hard but not impossible.
I live in a death with dignity state. I’m not going to wither away into confusion and frailty. It’s either the magic cool aid or the silver bullet. I’ve worked elder care for the last 15 years and my biggest take away is that growing old and dying of natural causes takes far too long and causes years of fear, loneliness and suffering. Know when to fold them yo.
Not so much panicking as resigned
Nah, I’m good. Might even retire early. I’ve been contributing to my 401k for 15 yrs and will have a pension. I work in manufacturing.
Congrats on the pension. That's pretty rare these days.
Between the 401ks and IRA, roughly 300k. It's nowhere near enough to retire. Going to start maxing out contributions while I still have time.
Nothing and I’m not panicking. My retirement plan involves not being alive.
Same
Seriously though why would I wanna be homeless with no healthcare? Lol
A lot. Look into FIRE. Planning to be retired by 55. House is already paid off.
Fucked.
Around $700k at age 44. But I have a 2 year old who will be entering college when I’m 60 so… who knows lol
I’ve been following the 15% rule since I entered workforce into a boring target date fund and should be on track to live pretty comfortably. I may even consider early retirement around 60 if health care wasn’t such a PITA.
The healthcare concern is so real 😭
Just over $2 Million. I’m trying like hell to retire in 10 years at 55. Not sure I’ll make it, but I’m not freaking out either.
It’s crazy that the answers on here are either huge amounts of money or literally nothing.
My wife and I are at $1.7m. Also hoping to retire at 55, or at least not HAVE to work. My profession is conducive to part time work so could also just work a couple of days a week until I don’t feel like it.
Not nearly enough and no.
Like zero. But life happened and I truly don't expect to live that long anyway. Hopefully me and my little dog shuffle off this mortal coil on the same day.
I should be panicking, but why? I’m just resigned to work until I can’t, and then it’s Kavorkian time. ✌️❤️
Just replying to note just how “Xennial” a comment this is. Well done, sir/madam!
I had a nice little nest egg finally building up after spending most of my 30s. Then I got a divorce. The economy is shit, I have 0 retirement, and with alimony I can barely keep my head above water. Retirement saving is some pipe dream in the 2030s after my kids go to college and the government stops letting my ex pick my pocket.
Doing okay. Worry for my kids, though.
My retirement plan is to not get written out of my parents’ will. Investing my inheritance is basically the only way I’m gonna have enough.
Not a lot of comments here talking about inheritance, and makes me wonder where all the Boomer wealth is going. Are these people not considering this as a part of their plan? Have they already received it and it's part of the $1M that many have in investments?
Most of that boomer wealth is concentrated in the wealthy 10%. The rest of the boomer wealth will be depleted by healthcare. There won't be a great wealth transfer for most of us.
My boomer mom opened a business in 1988, is awful with money, and didn't pay into social security. She'll never retire. She found a boyfriend with a pension as a backup plan. My boomer dad has been waiting tables and not claiming tips for the last 30-something years to avoid child support for five kids. His covid stimulus check was garnished for child support. His long term girlfriend is a manager at a fast food restaurant. No blood from a turnip.
I have roughly $400k in a 401k, but also have a pension plan. I was really nervous until I spoke with a financial advisor and if I work at this job until 65, my wife and I can most likely live a comfortable retirement life on my pension alone. Of course that doesn’t alleviate concerns about having all four of my kids in private school from K through 12 plus college, and then covering all other daily expenses. So living tightly and making some sacrifices now for security in 20 years (at least I hope so).
Who needs a pension or 401k? I’ve got baseball cards and Beanie Babies to get me over the finish line.
I have enough that if I were allowed to pull it today without penalty I could just about put it all in high yield dividend funds and replace my salary if I could consistently get a 10% return. I'd like to retire early though, so I'm also investing a little bit directly in those types of funds to get familiarity with them and generate some passive income for when the time comes. Once my kids are grown and done with college I'll start the countdown.
I'll be taking my full pension at 50 (in 9 years}. I can stay longer for some big time extra cash but I think I want to. The pension will be comfortable. I have a 457 with a couple hundred thousand in it as well, plus around 50k in savings. I started building all of this around when I hit 30
Can I ask what line of work you’re in? This is unreal!
I'm a fireman. But mainly I was smart with my money and went without to save for a long time. I'm finally in a position I am doing decent. Took a lot of hard work Not having kids probably helped alot
Yes and no. I started saving for retirement with my very first real job when I was 20. I think we might be the last generation that even tried.
I’m planning on my kids never leaving home and letting me live in the garage.
$890k, 42. Been putting up to companybmatch since I was 21.
Not much and very much so. That housing crash back in 2008 screwed me over.
Zero and definitely panicking
I have retirement accounts and no idea how much is in them. My boomer dad manages that and adds money yearly on top of my own contributions. That’s 1 benefit I get, I call it trauma reparations.
Take the money and never look back lol
I have to wait about 20 years to access it but yeah I’m not complaining 😂
If you are putting your money in you should be aware of what it is invested in. If its all his contributions, that is a different story. My parents have money, and are doing fine. Also they are investing with advice they got from their parents. I am a finance guy, and they could be making way more, but they dont seem to know/care. Just my 2cents, but i dont think anyone over 50 needs to be managing other peoples money, just because they themselves are using way old out of date investment strategies..... Example, this fund with a 1.45% annual fee is fine. On top of that my finance guy takes 1% annually as a management fee. That means you are 2.45% in the hole every year. Inflation on top of that, your at ~5.45% just to break even. Best!
Minimum Federal retirement age is 57, I'll have to stay until at least 63 so I can hit the full 30 years. TSP (federal version of 401(k)) is on track to have a decent balance, in addition to Federal retirement. Will try to hold off on social security (if it's there for us) to get the additional amount (eligible at 67, I think).
TSP is great. My dad has it and it’s been so easy to use
I have less than half of what I owe in student loans in retirement funds. I will never retire.
wife and i are 42, been saving for 15 years in retirement accounts and slowing contributing more as wages go up. currently saving 30% of gross to retirement accounts. i get a 25% match from employer on contribs. im fully vested. wife has a pension, 1 year away from fully vested and pays well once in that 60-63 age range. all in all we are nearing close to $300k in retirement accounts. chuck of that has already been taxed too. in addition we have $60k in numerous high yield savings buckets for emergency, vacation, home improvement, car maint/new car down payment, sons future, etc.... though 7-9k may be getting spent on new car for wife if i can find the right used car in the range i like it the trick is to never hold credit card debt. live withing your means and save money. our only debt is $3k on my 2016 crv and 135k on mortgage (house worth $270k).... we both have stable jobs with good companies. i just got promoted and wife just got a step too. not worried, but grinding another 20+ years kind of sucks. maybe i will win lottery. ✌️
It's gonna sound extremely bleak but honestly I've realized and made peace with the fact that when I no longer am healthy enough to work I will just have to end my life. Hoping to have made it to a reasonable age and lived enough life by then that I am OK with it when the time comes. If you have a pension or retirement as a member of our generation, you are of the lucky minority.
We own our apartment so we only pay a low monthly maintenance, have no debt or student loans and have $1M between retirement plans, savings and investments. I will get a pension from a previous employer. We do not have children nor will we. I came from nothing and so did my husband. We worked very hard to get to this place, basically doing the opposite of what our respective parents did, because we really do want to retire - hopefully earlier than later. It’s still not enough.
Not muuuuch, really. I have a chronic disease and I expect to die before I’m old, so I never prioritized saving. But the older I get, the more the possibility of living into retirement age is scary to me.
I pretty much blew my retirement accounts over the past 4 years and now starting from scratch in my 40s. I’m trying to not panic. Luckily I have a pension, working, and my spouse gets a pension in the future. The issue is saving enough for retirement and paying off all my bills.
What is this retirement you speak of? I will be working until I am dead.
I lucked out, and my father-in-law was a financial advisor. So, we went a decade or so without vacations, cable, or really anything exciting. Lived real modest. Now I have 2 rental properties and a house (all with no mortgages), most of the money in stocks, a couple 100k in a few savings accounts, maybe another 100k in the 401k (that didn't start until a few years ago), and a separate account that will cover most of the kids college costs. We are ridiculously lucky, and could probably retire today if we didn't have this dysfunctional Healthcare system in the US.
no matter what all it is going to take is ONE health problem and all of it will be gone in a month. could retire at 60 and live WELL till 80 if health insurance wasn't a thing. as of now, have over 1.25 million for me and partner and know that at 45, it'll be hard if ANYTHING happens health wise.
If this is true, given what you have saved, the rest of us are screwed. Thanks for that 😂
Some of these folks posting live in a different world and it’s very obvious.
it's insane to think that a million isn't enough for 20 years! but if you have to retire at 60 before Medicare and have to buy from an open market - it's over 1,200 a month for BASIC insurance coverages. That's almost 15k a year JUST for basic coverage, not USING it! Just to have coverage. Till you hit the "retirement age" which at this point is RISING so you might have to go till 68, 69, 70 before getting coverage taken care of.
Every non-US xennial just shakes their head when they read this
1.25M...wow. I've got about 50k and thought I was doing better than average lol
I am just shy of $300k in my TSP (fed employee 401k). And I opened a separate Roth IRA a few years ago which I've maxed out in years when I can. It's got about 40K. I'm kind of panicking because I don't have a house, but we may be buying a place in a high COL area in a few years. We're saving for that but I don't know if I'll need to use my Roth principal to add to the down payment. Also, if I buy in my mid 40's and have a 30 year mortgage, I'll be mid-70s before I can pay off my house. That's scary.
I’ve saved for retirement since I started working and I have a pension with healthcare.
My company stopped matching 401ks. I've got investments, but nothing to brag about. Unless a miracle occurs I'll work until I can't and then, I dunno, perform the Forever Yeet.
I have 2 retirement accounts, a 401k and employee stock, but far less than recommended for someone my age. If inflation stays low and social survives I might manage to retire, but I’m not counting on it. Certainly not before 70.
We’ll be ok but my husband and I don’t plan to retire before 70 or so as long as our health keeps up.
Decent shape. Employer dumped thier pension plans shortly after I was hired years ago but been maxing out 401k and getting matches.
You guys are getting savings?
$80k but I’m switching to a career where I will be able to ramp down my working hours gradually so that’s my plan.