Me in the future. Me save for retirement now.
Obviously we should all try to prepare our nest eggs for the kinds of lives we want to be living in the future, but I thought this interview by Chris Taylor in Reuters
was interesting. The idea is that strong, secure relationships are just as important as socking money away because if, for whatever reason, your finances are wiped out, you'll have people who care about you who can help you turn things around. I don't always agree with Suze Orman, but I've always agreed with her mantra of "people first, then money, then things."
You may think retirement is out of reach, and you’re probably right!
To better assess your retirement needs and preparedness, please answer the following simple questions:
1.) I would like to retire at the age of:
a.) 55, as I am already a multi-millionaire who works solely to alleviate the ennui.
b.) A spryish 87.
c.) It all depends on whether or not I’ve saved enough vacation days by 2067 to attend my death.
2.) I’m in my:
a.) 30s, but I have no children, hobbies, student loans, rent, or dietary needs, so I’m ready to start modestly planning ahead.
b.) 50s, with no history of conveniently-timed dead-on-the-spot strokes in my family.
c.) Grave, which we still need to figure out how to pay for.
The last paragraph of the MarketWatch article sums it up
(the keyword here is "assuming")...
Billy is a 37-year-old husband and father who decided to give up his job earning six figures when he was 33 to move to a small town and take a position that paid half as well. He says it was one of the best decisions he's ever made.