Retirement fills my mind almost every day of my life. I'm really tired of working my ass off and I really don't want to be doing this for the rest of my life only to settle into a "retirement" where I STILL have to work for a lower quality of life.
I play around with FIRECalc (https://www.firecalc.com/) regularly to see what kind of retirement fund I'd need to maintain a given quality of life and the results are always disappointing.
Right now I'm looking at a required $2,000,000 tucked away to sustain a $50k/yr income over 30 years (inflation accounted for) with a buffer for accidents and medical emergencies/age-related things. That's not a whole lot of money to live off of if you're paying city rent, so I'd probably have to move to the country or something. That's also less than my current salary, which is a bummer since my regular payments for medical issues (normal ones, not extraordinary ones) will no doubt go up.
The worst part is that I don't have a significant fraction of that already tucked away, so as a savings goal, it seems pretty unrealistic.
If I scale back in terms of savings goals to see what I could realistically have tucked away at my current salary, the picture gets even more depressing...
I know people in their late 30s who've thought about this even less than I have and are tens of thousands of dollars in credit card debt -- it just blows my mind.
People here seem to think that pension will take care of them, but the Japanese pension system pays out roughly $7k/yr -- maybe enough to cover a year's rent in a modest apartment out in the country.
I dunno, it's just all depressing to think about, but the numbers don't lie.
I play around with FIRECalc (https://www.firecalc.com/) regularly to see what kind of retirement fund I'd need to maintain a given quality of life and the results are always disappointing.
Right now I'm looking at a required $2,000,000 tucked away to sustain a $50k/yr income over 30 years (inflation accounted for) with a buffer for accidents and medical emergencies/age-related things. That's not a whole lot of money to live off of if you're paying city rent, so I'd probably have to move to the country or something. That's also less than my current salary, which is a bummer since my regular payments for medical issues (normal ones, not extraordinary ones) will no doubt go up.
The worst part is that I don't have a significant fraction of that already tucked away, so as a savings goal, it seems pretty unrealistic.
If I scale back in terms of savings goals to see what I could realistically have tucked away at my current salary, the picture gets even more depressing...
I know people in their late 30s who've thought about this even less than I have and are tens of thousands of dollars in credit card debt -- it just blows my mind.
People here seem to think that pension will take care of them, but the Japanese pension system pays out roughly $7k/yr -- maybe enough to cover a year's rent in a modest apartment out in the country.
I dunno, it's just all depressing to think about, but the numbers don't lie.
