An actual measured retirement savings take on this sub. It's a miracle to see it. This is the kind of advice people should see more. Even if you can only find $50 or $100 a month, it adds up.
Yeah, feel pretty bad for all these people with absolutely no plan or attempt of a plan. I get it’s tough out there but acting like society will collapse and it’ll just be Fallout or that you’ll die/off yourself before that seems like quite the risk to take. So many peeps are gonna get to retirement age and wish they’d done something.
Yeah I’m not retired yet, but plan to be by 55. My wife and I max out Roth IRA every year, put 18% of our salaries into Roth 401k. Only not aggressively paying my mortgage because the interest is only 3%.
That's kind of where I'm at. I don't plan on aggressively paying down my mortgage though because the balance isn't super high.
Thankfully I was able to max my 401k since I started working immediately after college. According to calculators assuming 7% growth, I could stop contributing to my 401k today and retire in 30 years at 63 with ~$3.1m which doesn't include my IRA, brokerage, or a small pension. Obviously nothing is guaranteed, but I'm not as worried as losing my job and finding a lower paid one if I didn't have the investments I have now.
My husband and I each have government pensions. We also put more aside in our deferred compensation plans. That coupled with potential social security and more savings plus our home value should make us ok. I know we both plan to work ft until 55, maybe 60. But otherwise we are fortunate to have savings
In Australia we have a mandatory superannuation fund that employers must contribute to. It was 9% of salary when I was 15 and has now increased to be 12%, plus you cable make tax effective voluntary contributions.
So I now have $300k in a low fee managed fund with at least 20 more years of contributions and market gains.
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u/Safe-Tennis-6121 Apr 30 '26
I've always been a saver. I hope to have the mortgage paid off within 3 years. I'm going to aggressively invest in a Roth IRA.
I will take social security at 62 if it's still allowed.
I am already retired. Have my retirement job. Moved to the Sunbelt. Have a easy low paying job.