Quote:
Originally Posted by darklord700
It's generally not possible to have a higher retirement income than working income. I think the financial industry is doing us a big disservice by painting a far rossier retirement picture at most of their advertisement.
If you can't afford Europe in your working years, you can't afford Europe after you retire and have no money coming in. Most seniors do watch TVs 16 hours a day and I bet their TVs aren't the latest 60" think bezel Samsung.
I've learned not to treat retirement as a lottery ticket and think it'll solve all your financial and life problems. If anything, retirement will only make those problems worse for majority of the people.
That's not to say most of us will suffer, but I certainly won't put my life on hold waiting for retirement to come. If there's something you want to do, do it now instead of later is usually the good way to go.
|
The only saving grace is that, in theory, you would own your own place and, therefore, not have to pay mortgage/rent anymore. Many seniors will also have the ability to downgrade the size of their home from a house to a condo. This should free up additional income. Also, the other huge expense that dissapears is children. Most people budget towards supporting their children, which is becomming a longer and more expensive process everyday.
There are a lot of seniors that live a much fuller life than you describe. It just takes many many years of working and strong financial planning.