3 ms·
Anyone can retire comfortably and even early, sure. Retiring at 30 takes commitment most people aren't interested in making, however. And of course you have peo
by chadcf 14y ago
Anyone can retire comfortably and even early, sure. Retiring at 30 takes commitment most people aren't interested in making, however. And of course you have people like me who have no interest in retiring until I have to because I'm crazy enough to love what I do.
But regardless you can't deny the fact that with wages decreasing over the past 20+ years in comparison to inflation, it is absolutely more difficult to save for retirement. Regardless of your financial choices, if you have less money after spending the minimum require to sustain yourself, you will have less to save for retirement. That doesn't mean it's impossible to retire, just more difficult. Perhaps you used to be able to have a pretty nice house and car and still be safe in retirement, and now you have to drive a cheap used car and live in a more modest home to do it. There are more sacrifices to make...
I think the current working generation is going to have a difficult time too because a lot of us have seen our parents grow up and retire with ease thanks to pensions. When you witness retirement as being a pretty simple thing with no real money concerns it makes it unlikely you're going to sit down and really think about how screwed you might be. After all it was no problem for your parents. Yet when it's your turn and there is no pension and your social security payout has been cut to 70%, well, things are going to be rough.