Recently been thinking about retirement. Maybe cuz my folks are approaching that milestone and the thought keeps recurring.
A buddy of mine (66 years old) returned to the workforce because he simply couldn't afford to retire. He previously thought that 70% of his salary would be enough for he and his wife. He didn't realize that he needed 100%! Immediately, one would think of insurance as the prime driver. Indeed, it is. But the most pressing source of drainage comes from taxes!!
It's no wonder people move to places w/o state tax or sales tax or property tax.
How can I possibly retire in the Bay Area by the age of 35??
Mood: poor
1 comment:
Oh pooor you, too bad you cannot retire by the age of 35!
Lately I have been watching Suzy Orman show religiously, seems like u do need a handsome amount of money in retirement to retire. Makes me wonder if I will ever get there....
Especially when she talks about the future value of money, I wished I have started investing in my Roth IRA few years earlier...man, just thinking of retirement plans is making me sad.
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