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.
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Wow, how are you retiring at 55??? I’m 56, and have spent this year re-vamping my IRA accounts with the hope of retiring in 10-12 years without any reliance on the social security that will be gone.
[Edit] I see below you mentioned having a pension. Must be nice!
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I have four more years to pay off my house. I just have to survive the Trump administration without losing everything.
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Retirement sounds great till you try it. The expression is “even your garage can’t get any cleaner”. This refers to the boredom retirement can be for some. The solution that I found was a part time job, not for the money, but doing something I enjoyed. You no longer have the pressure of a “real” job. The best job that you will ever have is the job that you really don’t need.
Doing stuff is important. But I have enough hobbies that I think I could stop working and not get bored.
Honestly, it scares me a bit. I’ve known men who retired and just… stopped. Sat in their chair, or maybe went for a little shuffling walk. Dead within a few years.
I could probably retire now, finances wise, but I enjoy my job and don’t know what I’d do all day without some structure.
I saw my retired parents waste away in front of the TV every day. As mentioned before … the best job is the one that you don’t need. So besides enjoying my part time “get out of the house” job there are other benefits. I save money and stay healthy by only drinking on Friday and Saturday. These of course are not my work days. I also don’t go out for meals during the week. I have retired neighbors that seem to spend 5 or 6 days a week out for lunch or dinner and boozing everyday. That would never work for me
I saw my retired grandparents buy property in the country and spend all day working on their garden and continuously making improvements to their home and doing other projects that interested them. In the summer they traveled the country and camped. If you spend your retirement wasting away in front of the TV that’s on you for not finding some hobbies.
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. 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.
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No, and crying
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.
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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.
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.
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Yup, sometime in the next year or two I’ll get laid off, then I’ll just mooch off my spouse.
