How much did YOU save up for retirement?
some people have ridiculous expectations in how much money you should have. most companies DON'T do pension plans and if they do most just do 20 or 30k a year pension plan. if your making 80k you don't have to make 80k forever to maintain the same lifestyle. most of the time by the time you hit the standard retirement age you most likely have paid off your mortgages so you don't need much. pretty much just bills, food, and luxuries.
Public Comments
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- You are right - once the mortgage has been paid off (and mine has), there are fewer expenses. Where I work, there is no pension plan, so it is necessary to save - can keep half my earnings, at present. Besides utility bills and food, there is home maintenance and repairs - and these could prove costly, and furthermore increasing age could bring health worries. And nursing home care is horrendously expensive. It is hard to predict how much I need to save to be worry-free, but the more I can put by, the better I am prepared.
