Now, I don’t know where you live, but Canada at least has old age security (and a pension plan) that should offset a good chunk of your expenses when you retire.
That’s in addition to whatever you do manage to put away.
However, it really helps if you own a home and are mortgage free by the time you hit retirement age.
I do own my house and hopefully will be mortgage free by the time I retire (or hit retirement age). I’m in New York State. Social Security would theoretically help, but who knows if it’ll be around in 30 years. If it’s not, I’ll be working until I’m 90. If it is, I might be able to retire at 75. Assuming I don’t have any large, unexpected expenses (which is a huge assumption).
Are you me? Wow.
Now, I don’t know where you live, but Canada at least has old age security (and a pension plan) that should offset a good chunk of your expenses when you retire.
That’s in addition to whatever you do manage to put away.
However, it really helps if you own a home and are mortgage free by the time you hit retirement age.
I do own my house and hopefully will be mortgage free by the time I retire (or hit retirement age). I’m in New York State. Social Security would theoretically help, but who knows if it’ll be around in 30 years. If it’s not, I’ll be working until I’m 90. If it is, I might be able to retire at 75. Assuming I don’t have any large, unexpected expenses (which is a huge assumption).
Our future looks grim, friend. May the odds be ever in our favor. 🫰