So if you don't win the lottery and you don't build your own empire, are you doomed to live paycheck to paycheck and save whatever extra you can for retirement? If I am 31 now and have two small kids and we make about 90K a year, can I retire at 55 and travel and see the world and not work anymore (unless it's a pleasure to work)? I refuse to believe that this is it, I look around and see people working in their 70s, life sucks if that is life.
Asked by Anonymous at 2:56 PM on Aug. 8, 2010 in Money & Work
Answer by LindaClement at 3:10 PM on Aug. 8, 2010
Answer by icanbeabitch at 3:03 PM on Aug. 8, 2010
Answer by MomNbabyGirl009 at 3:04 PM on Aug. 8, 2010
Answer by JackieGirl007 at 3:06 PM on Aug. 8, 2010
Answer by elizabr at 4:20 PM on Aug. 8, 2010
Answer by coffeeyum at 2:59 PM on Aug. 8, 2010
Answer by justnancyb at 3:25 PM on Aug. 8, 2010
Answer by mamaofficer at 5:40 PM on Aug. 8, 2010
Answer by Sisteract at 5:49 PM on Aug. 8, 2010
My father worked for the same company for over 20 years, and retired very well off at age 55. Honestly the TYPE of job you have makes a difference too. Is your job dead end, or does pay and benefits increase every year? How do you budget your money? Do you live within your means?
Honestly OP some work to age 70 for they WANT TO. Don't assume all who do are forced to for income. Some just ENJOY working. I teach and our substitutes are retired teachers. They love being in the classroom, so they keep at it even after retirement.
Answer by KairisMama at 6:29 PM on Aug. 8, 2010