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« What's the Top Financial Stress in Your State? | Main | Book of the Week: The Millionaire Next Door »

September 29, 2016


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It's both scary and crazy at the same time. I suspect most people think it's too complicated to get into or are not "good with math." What they don't realize is that burying your head in the sand is not a solution. Also, it can be very, very easy!

Like you said, if we can just help a couple of people, than it's all worthwhile! In my opinion, everyone should strive to be net worthy!

I reached my number over a decade ago in my late 30s, but I'm still working full time because I enjoy my job. Still I have no regrets making those early sacrifices to fund investments in my 20s because the absence of stress now is well worth the bling I missed in my youth.

Yes the aggregate picture on retirement readiness looks dire, but for those who don't want to go down with the ship, Joe's got a prescription (posted today in fact)--
For the newbies "financial independence" means no longer relying on your paycheck to meet your expenses, and it's equivalent to retirement readiness (on the money side). For most people it takes a good plan and the long term execution of that plan-- it rarely happens by accident.

I am really glad that I am still young and can get things going! I am surprised that 70% of people want to work as long as possible. I recognize that a lot of that is coming from "need". They need to work longer to save more. I don't know about anyone else...but I want to be done working ASAP...and I'm willing to sacrifice now to do that.

Just curious, how many of you readers personally know retirees in such dire straits? I keep reading about the dismal state of boomers' finances, but I don't know of anyone who seems to be having a hard time. When they poll people about how much they have, could they be leaving out key pieces of information? For instance, if someone asked me how much money I have in a savings account, the answer would be under $1000. That looks bad, but the rest of my money is in other types of accounts. But based on that kind of information I could be included in the underfunded group. Could this be scaremongering?

I know people who have to "keep working" because they can't retire. Some of them are in my family, so it is an issue.

How bad of an issue, it's hard to tell. But given how bad Americans are with savings, debt, and everything else, it wouldn't be a surprise to me if it was a huge issue.

I bring it up now so we all can be working to avoid any problems like this in our own lives. If you save and invest through your lifetime, you should be fine and not have to worry about working until you're 80 to survive.

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