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business12h ago
At 38 He Earns $100K And Saves $500 A Month For Retirement. He Says He'll Be 'Extra Miserable' If He Has To Work 10 Years More Than His Wife
- A 38-year-old earning about $100,000 discusses retirement plans and fear of not having enough.
- His wife’s pension and potential early retirement influence their shared financial outlook.
- Commenters urge treating the couple as a single economic unit for retirement planning.
- Experts say the savings rate at $500 per month is around 6% of income and could be higher.
- Advice includes increasing contributions and investing in low-cost index funds over decades.
- Housing costs and mortgage payoff timing can significantly affect retirement outcomes.
- Several commenters believe Social Security will still provide meaningful income.
- Diversification across asset classes is recommended to manage long-term risk.
- The article suggests a possible range of $700,000 to $1 million by retirement with proper plan tweaks.
- Actionable steps include tracking monthly spending and increasing contributions over time.
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