I Don’t Care What it Takes, I Want to Retire when I Am 60!

It seems like every have baked economist is pronouncing the savings rate you should have for a good secure retirement.

Some have even gone so far to say that Americans are saving too much for retirement. I can’t believe anyone would even suggest such a thing.

I am not an economist but I am going to throw my two cents into the mix anyway.

With pensions getting cut every chance that a corporation gets, social security funds creeping closer to thin ice, market volatility giving acid reflux to every investor and the final nail is a real wage stagnation of the all powerful American consumer.

To even suggest that there is a condition of saving too much is ridiculous and needs immediate correction or someone might actually believe it.

This year I turn 50 so retirement contributions are about as high of a priority as they can get.

Personally I am contributing 30% to max out my 401K, catch up option and Roth IRA as well. It is not easy and I have had to make some choices that I did not like.

Mostly having to put things off.

Everything across the spectrum, like keeping the same car for the last 20 years to limiting myself to eating out at a restaurant only once a month.

I have gotten lucky a few times. I did not get caught up in the housing bubble with a place that I could not afford. Many of my coworkers were giving me plenty of grief about not buying a home but for some reason I don’t hear that anymore.

Don’t get me wrong I do enjoy some things that I probably could do with out, like cable TV, a cell phone and grilling steaks instead of hamburgers.

Small indulgences do keep you sane and productive.

When the time comes for me to finally hang up my tools I will be sitting on enough money to not have to worry about much of anything. Mostly I will be worrying about when to start the barbecue.

If you have not achieved that when you retire is it really a retirement?

You are going to be either working part time “nothing wrong with that” or cutting back on that bucket list. None of these options sound good to me at all!

So you do what you want, listen to whom you think will get you where you need to go. Please remember these people will not be held accountable for you following their advice. So look to the future and figure out where you want to be and make it happen for yourself.


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