Retiring a millionaire is not winning. Retiring with less than a million is losing.
Just do some back of the envelope math and it is very clear that you will have big problems with less than that.
Just do some back of the envelope math and it is very clear that you will have big problems with less than that.
Are you aware of how much elderly healthcare and care in general costs?
The average cost of a private room in a elderly care facility in the present is about 90k/year.
My standards are about not dying because I can't afford to pay for my prescriptions.
I don't know what the inflation rate is between now and 65 years old... and I hope to live for 20 years after that. Assuming you're 50, that's 35 years of inflation which is right about a halving in value at 2%. So you're going to end your life with $25k/yr current equivalent and hope that SS and Medicare carry you through. Good luck.