Yes. Yet, if you are not in the baby boomer generation, you should not rely on social security to fund your retirement any longer!! Start saving AT LEAST 10% of your income each month and put it into your company's benefit plan (401k, 403b, etc..) and/or open up an IRA account!
Retirement, if planned properly, can definitely be achieved and you'll have enough money to last you the rest of your life (and even money to pass down to your kids!) Good luck to you!
In America, you have to work far harder NOT to have enough to retire than you do to be well-positioned at retirement, unless you are just pig-headed! There's no excuse for not knowing that you should set aside 10-15% of all your income for retirement, and if you DO that, even if you start out at Minimum Wage, you'll have plenty by the time you reach 60...
I came to the USA in my 30s, and (since regular folk did NOT buy Stocks in the Old Country) started saving & investing 20% of every pay-check then....roughly two decades later, I already have more than enough to retire...
Yeah, I think so. I'll draw 2k a month from SS. And I have a 401k/IRA that passed the mid 6 figure mark a couple of years ago. I'm figuring my retirement accounts will throw off another 2k a month.
So I think I am in relatively good shape. And of course retirement is still a few years down the road.
I do not. But I'm hoping the house I purchased 15 years ago will net me enough money when I sell it to buy a smaller house outright. That will help enough financially to where maybe I can start socking away enough to retire in my 60's.
Interesting question being that you needs can shift at a moments notice. Health insurance is the big problem. Even with Obamacare, you may not be able to afford insurance because of the high deductibles and copays. Then there are the prescriptions!!!! So you may think that you have enough to retire but careful planning can be changed be life events not under your control.
I GOT THIS !!!!!
I joined the military at 18 and retired last year at 38. I will receive full medical and a pension until I die from the federal government. Last year I obtained a state government position as an engineer. I work within the correctional division and I will receive my 2nd pension from them at 58yrs old. I max out my IRA and employer retirement account every year plus invest within taxable investment funds. I invest in venture capitalist companies as well
I own my home free and clear. I am finanically secure. Born to get money and I'm too legit to quit. No handouts, I'm going to get it how I live.
I got this life beat. ;-)
I'm retired and don't have enough money to retire.
When I was in my 20's and working I was only able to earn less than half of what my husband earned. So......
I'm retired and don't have enough money to retire.
When I was in my 20's and working I was only able to earn less than half of what my husband earned. So......
No, but retire anyway. Being retired needs a lot less money than you think. Not having to go to work saves a fortune.
Do not retire early. retire at 60 and plan at when you are 25 years old. A systematic long term financial planning for 35 years will lead you pleasant retired life.
