Quote:
Originally Posted by Oil Stain
Retirement freaks me out. I have a hard time seeing how I will ever save enough to quit working and still live a quality lifestyle.
I'm in a pretty good income situation and I put away around $20,000 per year towards retirement including my pension, but I just don't see how that will allow me to live comfortably after I quit working.
I'm 32 now, and say I want to retire at 55. If I were to put away $20,000 per year over the next 23 years I'm still shy of $500,000. That will be peanuts in 25 years.
It really seems like a person is going to need $2-3 million in net worth to have a quality retirement where you aren't constantly hampered by money limitations.
Seeing as how I'm above average in earning and I'm really struggling with how I am going to get there, I don't see how the average to below average earner even has a chance.
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stop buying bonds?
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