Will You Ever Be Able To Retire
Posted on by Guest in Budgeting, Saving Money & Finances
Will You Ever Be Able To Retire - I am sure you have asked yourself will you ever able be able to retire many times before, probably many times a month! Retirement by large has been defined by an age or particular period of life when in fact retirement could take place at any time during a persons life.
Will You Ever Be Able To Retire
Will You Ever Be Able To Retire
The answer to the question should be an emphatic yes every time the question is asked. The key to retirement is not age, but money and how much of it you need to live your life without worrying about not being able to pay your bills or meet your financial obligations.
You could retire at any point of your life, but the question is could you afford to retire? Most people cannot afford to retire at the age of 65 the same way they were not able to afford to retire at the age of 25.
The easiest way to figure out how much money it would exactly take you to retire it to figure out what your projected lifespan is going to be, calculate how much it would take on a yearly basis to fund the kind of life style you would like to live and then multiply the two factors.
The number you reach is the amount it would take for you to retire. This number goes down every day you are not retired. You can reach retirement at any age. The average person cannot afford to retire, because they have not planned for it.
Most people believe there will be someone else to take care of them during retirement in the form of a pension or social program. Retirement is not out of reach for the person that really wants to retire. It only takes serious planning and action.
Will I Ever Be Able To Retire?
I didn’t start preparing for retirement very early. I really wish I had but I am certainly serious now about making sure that I can retire if I ever chose to do so. Right now I love working online and luckily it is a job that I can’t see myself having to stop unless I face serious health issues (fingers crossed). Blogging is a career anyone can do and everyone who has time, should! I don’t think I should rely on the blogging to get me through but it could be a nice cherry on top of cash I have saved for retirement.
I would love to hear your thoughts and comments.
Thanks for reading - Will You Ever Be Able To Retire?
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3 Responses to “Will You Ever Be Able To Retire”
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Forest: Absolutely agree Larry. In fact cost is the last t...
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Thomas - Your Daily Finance: I say look at your situation very carefully. Some...
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krantcents: I realize this a financial blog, but cost is the l...
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lance
17. Nov, 2011
I plan to retire within one year. No, I didn’t save enough money, but nor will I ever save enough even if I continue working for five more years. I think most of the retirement articles were over estimated, I will need less than 40% of my normal earning to live on., not 90%. Also, I have learned to save my money more than 20 years ago. I did followed the 50-30-20 rule.
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Forest
19. Nov, 2011
Hey Lance, if you can live very frugally then absolutely do what works for you. Personally I live on not much so retirement isn’t going to be as tough for me as it is some. Good luck with it all.
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Jai Catalano
31. Jan, 2012
For me the question is will I. I love doing what I do so it’s not work yet. If it becomes work and I happened to be well enough off then I will find something else to explore and call it a hobby.
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