I started over saving, after many mistakes when young, at about age 40 and am now retired at 60. I worked any overtime the company wanted and tried to save more than 30 % . Still live in the same 1 bedroom apartment since 1993. Failed on the home ownership part.
An estimated 155.6 million (60%) Americans lack a retirement-specific savings account. This includes half of baby boomers (ages 59-77), 56% of Generation X (ages 43-58), 66% of millennials (ages 27-42) and 73% of Generation Z (ages 18-26).
I am set for retirement, myself. But my daughter has just graduated from high-school. She and I are building up her savings this summer by selling small items on Mercari, Poshmark, and Ebay. And larger items locally on Facebook. Everything goes into her Fidelity account, where she currently has about $20K. My daughter is especially industrious, but anyone with an phone camera can supplement their retirement with the very same websites!
So Basically since you have lived pay check to pay check your whole life... and now you have a "little" wiggle room... keep living paycheck to paycheck and save the wiggle... so you can live in retirement... month to month.. dismal really. I have never saved much due to circumstances. And now I am working 6 days a week so I can pay off my house before I turn 62 next year. And when I pay it off, I will have to work 6 days a week to fix up the things that I have not done, since I was throwing all the cash to pay it off. The "American Dream" is really a nightmare.
I invite you to keep an open mind and think about the positive, good things in your life. You are a homeowner, and that's amazing! Turn your thinking around. Think about how you can make small tweaks and have the good things. The sparkles.
Dan, most people don't make plans and then wake up one day and realize they are way behind. There are ways to catch up and that's what the video is about.
I started over saving, after many mistakes when young, at about age 40 and am now retired at 60. I worked any overtime the company wanted and tried to save more than 30 % . Still live in the same 1 bedroom apartment since 1993. Failed on the home ownership part.
I hear you, it's not easy. Focus on the good things you have in your life.
An estimated 155.6 million (60%) Americans lack a retirement-specific savings account. This includes half of baby boomers (ages 59-77), 56% of Generation X (ages 43-58), 66% of millennials (ages 27-42) and 73% of Generation Z (ages 18-26).
Yes, scary stats!
I am set for retirement, myself. But my daughter has just graduated from high-school. She and I are building up her savings this summer by selling small items on Mercari, Poshmark, and Ebay. And larger items locally on Facebook. Everything goes into her Fidelity account, where she currently has about $20K. My daughter is especially industrious, but anyone with an phone camera can supplement their retirement with the very same websites!
There is a great book I can suggest for her: JL Collins Simple Path to Wealth. He wrote this book for his daughter! amzn.to/4aH22wm
@@Olga_StPierre Thanks -- I have an Amazon gift card that is burning a hole in my pocket!
So Basically since you have lived pay check to pay check your whole life... and now you have a "little" wiggle room... keep living paycheck to paycheck and save the wiggle... so you can live in retirement... month to month.. dismal really. I have never saved much due to circumstances. And now I am working 6 days a week so I can pay off my house before I turn 62 next year. And when I pay it off, I will have to work 6 days a week to fix up the things that I have not done, since I was throwing all the cash to pay it off. The "American Dream" is really a nightmare.
I invite you to keep an open mind and think about the positive, good things in your life. You are a homeowner, and that's amazing! Turn your thinking around. Think about how you can make small tweaks and have the good things. The sparkles.
Your recommendation totals 105%. It is suppose to be 75% VTSAX, 20% VBTLX and 5% cash?
Glad someone is watching my back! You're right!
You seem to imply that people getting closer to retirement are total idiots.
Dan, most people don't make plans and then wake up one day and realize they are way behind. There are ways to catch up and that's what the video is about.