No.
Existence had grown exponentially more expensive in my lifetime, well outpacing what a 401k or pension will realistically ever be able to achieve. At best, it might buy me 5-10 years after I am physically unable to work; if I mentally decline too soon due to age (quite likely in my family), I will die in poverty.
That isn’t even touching on the possibility of a habitable climate or war, and assumes the survival of the current economic system.
Yep. I just always put money in my 401k, I don’t know what a paycheck without 15% going to retirement looks like. I’ve still got at least 30 years to go.
My wife and I have pensions plans. We won’t retire for another 35 or 40 years but that’s the plan.
Barring societal collapse I believe I will be able to retire, but that’s only because I’ve gotten extraordinarily lucky in life.
Nope, never. My retirement plan is a ditch with a nice view of the Rockies in Colorado and a bottle of gin on a cold winter night. Everything I’ve saved into (SS, TSP, retirement accounts) will inevitably disappear before I can access them/hit the age requirements. I don’t trust the system at all (I didn’t trust it before the election outcome either). I’m fucked. We’re all fucked. Might as well live it up now while I still can.
No, and crying
No. My mother has unretired twice and my grandmother has come out of retirement four times. They don’t have the knack for it and I doubt I will either.
I don’t think think I’ll ever “retire” in the traditional sense.
My thought was to always have a severe mental breakdown around 50 and run off to the woods to build a log cabin and grow my own food. My wife knows of this plan but I’m pretty sure she thinks it’s a joke. It’s not.
Incurable cancer, chemo brain means I can’t concentrate and often have trouble thinking straight. Involuntarily “retired” on medical insurance. Not working wasn’t what I expected it to be.
My workplace has a defined benefit pension and they announced that all employees will be losing this pension (even those who are a couple years from retirement).
We will be switched over to a defined contribution pension and our previous contributions will be converted retroactively.
I don’t foresee this new pension lasting more than 5 years before they cut it completely. I wouldn’t even be surprised if they’re able to keep our pension contributions retroactively, fucking everyone over.
Jesus Christ how can they even do that?
In the industry I work in, they can legally do anything to you because our work exists outside of the Canadian Labour Code. This includes give you $0 paycheques for months and expect you to keep doing your job until it’s fixed, which can take 3 months to a year.
Wow that’s terrible.
At the speed at which government push back the retirement age, I expect something like 70 with 47 worked years by the time I’ll be old enough.
I have an interesting job, mostly in an office, some savings, so I may be able to do otherwise. But yhea, I don’t count that much on retirement
At the speed at which government push back the retirement age, I expect something like 70 with 47 worked years by the time I’ll be old enough.
I don’t know which government you mean. Here in the UK it’s gone from 65 to 67 for men and 60 to 67 for women (Sliding scale - currently 66, but 67 when I get there, and further still for younger people), so I guess it’s happening for everyone. I started work at 16, so if I retired at the legal age I’ll have worked for 51 years.
But - that’s just the state pension which is subsistence only. If you’re smart you have a private or work pension alongside it, and you can take that whenever you can afford to, then collect state pension as well when you’re old enough.
We’ve also lost the mandatory retirement age - you can keep working until you drop, if you want to.
One day, yes. I budget accordingly and am lucky enough to be paid relatively well. But at the same time, I prioritize quality of life now because there’s no guarantee I’ll make it to retirement. Id rather retire later if it means better qol now.
yes. by staying in europe
Yep, about to turn thirty and have been paying into an Ira, a Roth Ira and a 401k, I want to retire as soon a possible and do things that actually make me happy.
Yup, sometime in the next year or two I’ll get laid off, then I’ll just mooch off my spouse.
