I don't know how the younger generation is going to be able to retire either...
they put down their $500 smart phones, 2 year contracts, 4G internet service, $5 cups of Starbucks coffee, new car every 2 or 3 years, quit buying 60" TV's, $500 Playstations/XBoxes, $60 games for those players, big boats, motorcycles, hot tubs, the list goes on and on and on.
While the next genration may not be able to 'afford' to retire on that sort of lifestyle, or even find a way to save a dime even, they sure are having the time of their lives going to he11 in a hand basket.
I agree one hundred percent.
I'm retired. I and others I know earned retirement by saving 25% or more of their income starting with their first ever paycheck and investing it. By not buying more house than was needed. By living with a philosophy that you can afford anything, you just can't afford EVERYTHING. I had a boat, a motorcycle and a hot tub. I just didn't have all of them at one time and still be able to save for my retirement.
I also learned how to invest and make my money work for me. How many kids these days are willing to put down the remote for a few evenings and read a good investment strategy book, or sign up for a weekend investment seminar instead of just pissing and moaning how they will never have the chance to retire?
I'm often told how lucky I am to retire. If hard work (60+hours a week for over 30 years), self sacrifice, living below my means and learning what the rich guys know about investing is lucky, then yes I am.
BTW, LBYM (look it up) and look up how to retire on the web instead of watching all those cat videos on Youtube!! Here's a start;
I just want to add;
putting all your eggs in one basket is a recipe for disaster. Counting solely on a pension is doing just that. Any plan should be a three legged stool. Mine has 5 legs! My pension, 401k, 457, IRA and Social Security. My investments include stocks, bonds, international and savings and cash/gold that isn't in a bank that can fail.
A family with an income of $60,000 a year, saving 25% a month, earning 6.25% will have over $1.3M in 30 years.
While you may impress the bystanders,
you are going to miss out while touring
if you have a classA.
With a small, 24 ft or under, classC,
You can go anywhere that a large pickup can travel.
I am not a fan of towing, you are limited in where you can go.and where you can turn around.
We have travelled all of N America in a 22ft C,
Have never felt the need to tow a car.
Sorry, but blanket statements like that are just ridiculous.
I have said it before, and I will keep saying it: I will not patronize any park that has a 10 year rule. My rig is in good shape, but if they ask to inspect it to see if it meets their criteria, I will leave. I am not "their kind" of person!
That is exactly the way that I feel.
When I buy a vehicle, the dealer has it registered and plated in my name.
He gives me the VIN,I call my Insurance and am good to go.
I turned down a real good deal on a Jayco fiver in Florida.
The seller wanted a check from me, which she would use to pay off her loan
then forward me the title.
We lease the Florida lot that our fiver sits on permanently.
We leave a set of keys with a local handyman.
He enters and inspects on a regular basis and puts out the slide,
etc. before we arrive.
I have no problem with anyone entering while we are not there!
I do not really understand this withdrawal rule.
Does four percent mean taking out four percent of the total,
one hundred thousand, less four percent leaves ninety six thousand?
So, with one hundred thousand, you would draw four percent of the principal plus accrued interest,
or, does it mean four percent each year including interest,
hopefully, the interest would be enough to leave the principal intact?
I was stopped at a rural intersection
near Peggys cove.
In less than a minute, a horn started to blare behind me.
As I moved over, A SUV went tearing past.
Sure enough, New York plates.
City slickers, you gotta love them!
We live in a smaller town.
Everyone knows that we go to Florida each winter.
For the past month, we have been asked when we are leaving.
Our security consists of locking the doors.
Of course, anyone who wanted in would simply go through a window!