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Yep. I just always put money in my 401k, I don’t know what a paycheck without 15% going to retirement looks like. I’ve still got at least 30 years to go.
One day, yes. I budget accordingly and am lucky enough to be paid relatively well. But at the same time, I prioritize quality of life now because there’s no guarantee I’ll make it to retirement. Id rather retire later if it means better qol now.
Yep! I retire in 5 months. 55 years old. With full pension.
My house is paid off and I have no debt. Since I have no bills, my pension will cover my needs just fine. It’s not a huge pension or anything, but I’ve worked for my state for most of my adult life, and whittled down my bills to almost nothing. So I’ll get by just fine.
I plan to just spend my time in retirement doing exactly what I want. I’ve recently started a local branch of my favorite socialist party, so I’ll devote more time to that.
Plus, I’ll do a lot of writing, a lot of Lemmy posting, garden more so I can grow most of my meals, and doing DIY solar projects so that I can cut back on my bills even farther. Because fuck the capitalist power infrastructure in my state. My state’s BS laws won’t let me go completely off-grid while here in the city, but I plan on reducing how much I have to pay as far down as I can go
No, and crying
If I ever get off my ass and actually make all these games, maybe. If the ideas are as good as I hope they are.
My wife and I have pensions plans. We won’t retire for another 35 or 40 years but that’s the plan.
That’s awesome, it seems really far away, but trust me, it goes by quick. I’m 55 and I retire in a few months. And I remember thinking it seemed so far away. And fuck, now I’m here. Crazy.
Wow, how are you retiring at 55??? I’m 56, and have spent this year re-vamping my IRA accounts with the hope of retiring in 10-12 years without any reliance on the social security that will be gone.
[Edit] I see below you mentioned having a pension. Must be nice!
As long as Trump doesn’t decide to suddenly end pension plans! I mean, i don’t really think that will happen, but he’s so batshit crazy, who knows. So I figure I should take the jump now and maybe any law changes that would happen would go towards people who aren’t collecting the pension yet.
My pension plan is for state workers. So we can retire at 55 if we have at least 20 years service in. I turned 55 this year, and hit my 20th year this year.
Of course, the longer I keep working, the bigger my pension would be. I took my current job with the plan to work for 3 more years, then retire.
And I like my current job enough, but every single morning after I turned 55, when I wake up, I think to myself, “Shit if I were retired, I wouldn’t have to go anywhere.”
My job is a 10-minute walk away. So I really have no right to bitch about it at all. But just “having” to be somewhere, gets on my nerves so much now! lol
So since I don’t owe anybody shit, and I can live off of potatoes and beans, I’ll get by just fine. I don’t give a shit what people think of me, so no keeping up appearances. That right there, makes my lifestyle sustainable on low income.
I have four more years to pay off my house. I just have to survive the Trump administration without losing everything.
You’ll be fine. You got this, brother!
I already did somewhere in my 20s like 3 decades ago.
But today, with maybe “just” one good academic salary, the minimum rent, no car and saving nost of everything? Difficult. Especially if you maybe wanna live while waiting for retirement. Maybe even have a car or travel.
And if you want a great retirement, you need Hobbies and hobbies cost money. Considering that mayve the government-paid retirement is probably gone or reeeeaaally bad in another 30yrs…you gotta save a looooot AND invest it furiously but safely. Which is work too.
World is fucked.
My workplace has a defined benefit pension and they announced that all employees will be losing this pension (even those who are a couple years from retirement).
We will be switched over to a defined contribution pension and our previous contributions will be converted retroactively.
I don’t foresee this new pension lasting more than 5 years before they cut it completely. I wouldn’t even be surprised if they’re able to keep our pension contributions retroactively, fucking everyone over.
Jesus Christ how can they even do that?
In the industry I work in, they can legally do anything to you because our work exists outside of the Canadian Labour Code. This includes give you $0 paycheques for months and expect you to keep doing your job until it’s fixed, which can take 3 months to a year.
Wow that’s terrible.
I’m lucky enough to be a state employee so I’ll still have OPERS when Social Security is annihilated next year, but I’m not sure that’ll be enough.
yes. by staying in europe
I’m barely into my 30’s so it’s far too early to say what I’ll be doing. I aim to be debt free within 10 years and have no major life goals after that. Another 10 years and pension should cover my living costs 1:1, so monetarily I should be fine.
Yep, pretty much the game I played. You’re doing it right.
Nope, never. My retirement plan is a ditch with a nice view of the Rockies in Colorado and a bottle of gin on a cold winter night. Everything I’ve saved into (SS, TSP, retirement accounts) will inevitably disappear before I can access them/hit the age requirements. I don’t trust the system at all (I didn’t trust it before the election outcome either). I’m fucked. We’re all fucked. Might as well live it up now while I still can.
Yep. My wife and I are in our thirties and have good whole life insurance policies that will supplement our retirement accounts nicely in our old age. I’ve been paying into mine for almost two decades (maybe longer, my parents started it for me and locked in good rates when I was young), my wife’s is newer. We also both have matching retirement accounts and are making sure we hit our matching totals each paycheck to draw as much from our employers as we can.
It’s not ideal, but with good planning (and stable income) you can still do well. Now, stable income is the important part. I’m a software developer, my wife works for a non-profit, so my income is generally a bit more stable than hers.
I recommend finding a financial advisor. Our life insurance guy is great and because he gets commission on the life insurance plans he doesn’t charge us for advisory services (and also doesn’t try to sell us on other stuff, he actually recommended we NOT move our old 401ks from other jobs over to him because we’d end up paying him more than we’d make, he recommended we roll them into our current employer plans).
That advice seems like a red flag. There are way more options to diversify investments in an IRA than a 401k, you can also invest in the same funds through an IRA that are available to your 401k. Either way you end up paying fees to someone as well.
Oh sure, he’s not saying don’t diversify. That was specifically about the small amounts from previous employers. Like, I had worked at a place for about a year, and the amount in that account wouldn’t be worth him taking over.
Yep, about to turn thirty and have been paying into an Ira, a Roth Ira and a 401k, I want to retire as soon a possible and do things that actually make me happy.
