I'm beginning to suspect the math is so bleak that it isn't possible :(
I'm starting to come to that conclusion myself. They say you need $1M to retire today. With inflation, we're probably talking at least $2M by the time I'm ready to retire.
Given that you and I are of similar age, these are critical times for compounding our retirement funds. With so little investment opportunity right now for the average investor, it is very difficult to keep your savings up with inflation, let alone increase your wealth. Unless you want to turn virtually all of your income into retirement savings, $2M seems pretty much out of reach.
This is, perhaps, another reason why the startups are so hot right now. Given the current financial climate, it seems like the only hope of seeing a decent retirement for the average person without a lot of capital to start with.
This reminds me of a saying my friend told a while ago, 'You need money to make money'.
Like it or not, you definitely need to work hard but you absolutely must have luck on your side.
A lot of people work hard to just survive. Only a few make it. In order to get rich enough to retire comfortably. You not only have to get rich but also get rich early and quickly to invest and multiply your money.
I'm starting to come to that conclusion myself. They say you need $1M to retire today. With inflation, we're probably talking at least $2M by the time I'm ready to retire.
Given that you and I are of similar age, these are critical times for compounding our retirement funds. With so little investment opportunity right now for the average investor, it is very difficult to keep your savings up with inflation, let alone increase your wealth. Unless you want to turn virtually all of your income into retirement savings, $2M seems pretty much out of reach.
This is, perhaps, another reason why the startups are so hot right now. Given the current financial climate, it seems like the only hope of seeing a decent retirement for the average person without a lot of capital to start with.