Originally Posted by
bassin_bug
If you are already looking forward to retirement you have one of three issues going on. You are not satisfied with your job, you are in a low paying job, or you already have job burnout, or all three.
You are in that age group that has to work to age 70 before you receive Social Security; that's another 46 years. If you manage to get your Social Security benefits it will not be enough to live on, it will just be a small supplement as it was originally intended. My advice is to get into a good 401k or other plan and put everything you can into it, save some of the rest, and you will retire a very wealthy man.
My husband puts 12% of his paycheck into his 401k and the company matches the first 8%. We are blessed not to owe any bills other than the utilities and insurance so we save half of each net paycheck (after the 401k is deducted) most of the time. The exceptions are when the house, boat, and car insurance are due in January, and the life insurance annuity is due in June.
Since you have to get up and go to work, you may as well pay yourself FIRST and set aside a certain percentage into some type of savings plan. It will surprise you how quickly it will grow and you will start to find ways to save more. With proper management you may very well be able to retire long before you are eligible for Social Security.
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