Quote:
Originally Posted by Sylvanfan
Fast forward a few years with a wife, kids...etc. Working 60+hours a week isn't that easy, and unfortunately the cost of the things required is quite a bit more today. When that $3500 a year you were hoping to get is pulled from under your feet, it's hard to come up with that extra money when you're already living pretty tight.
If I'm falling short of meeting retirement goals I would hazzard to guess I'm not alone. If everyone in North America was as cheap as I am...the recession would go on for decades.
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You know, Moneysense Magazine (which I recommend to EVERYONE) talked about the financial-decades in an article about a year ago. Basically, the advice was to chill out and stop stressing so much.....you're probably on the right track without even knowing it. Generally speaking, your life will be:
Your 20's: Acquiring an education, likely some acquire some debt. The goal should be to get an education with the least amount of debt possible.
Your 30's: Start a family, buy a house, acquire debt. The goal here is to keep your head above water.....nothing more.
Your 40's: Parental expenses start to ease, earnings still strong. The goal here is to chip away at debt wherever/whenever your can.
Your 50's: Kids are gone, mortgage gets paid off, still earning decent money. The goal is to be debt free, and save what you can.
Your 60's: Retirement beyotches! Woot!