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Old 03-23-2015, 02:50 PM   #92
Johnny199r
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Join Date: Feb 2014
Location: Uzbekistan
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Saving for retirement is certainly hard for this generation. However, smaller life choices can result in substantial savings over time, ie can your family make do with one car instead of two? Does it have to be a brand new car? Can you buy a house near a Ctrain station? Can you cut down to going out to eat to once a week? Can you quit smoking/cut down on drinking etc all of these type of choices can result in lots of extra money that would be well spent going to retirement savings. Unfortunately, many people feel that money burn a hole in their pocket, and theyd spend it on something else rather than invest it. We've almost been conditioned that certain life decisions/sacrifices are "below us".

So yes, from a generational standpoint (doing away with workplace pensions, expensive houses) it appears tougher to save for retirement than ever, however as a 30 - something, I feel most of my peers arent really willing to sacrifice long term, and have a you only live once mentality (how many of our older parents were going on spring break trips to Mexico or Cuba?) Something has definately changed with young people, with respect to standard of living expectations between today and even 30 years ago (I realize it's still harder today in many respects, notwithstanding the mentality)
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