Needless to say I started way too late. I’d rather not state my exact age, but let’s say I have 15 or maybe 20 years left of functional work in me (assuming technology doesn’t outpace my ability to keep up and/or I can’t transition to management easily). I just got some profit participation at work and maxed my IRA for the year, but even with that I only have $20k in retirement. (I haven’t previously used work 401k because it’s crap funds with no matching, but household income is now high enough that I will start funneling money there too.)
The only possible thing that might help is, despite my financial immaturity all my life, I HAVE been working full time all my life, literally since I graduated from high school, all on the books and paying into SS. I suppose with that and a small amount of savings it’ll be about enough to starve on? :)
I’m honestly not looking for a ton of reassurance here ... it is what it is, and I’ll be hustling for this next decade or so to make up for lost time, both via my IRA and my employer’s 401k and whatever other savings I can manage. But I was still curious about people’s thoughts on this. I’m sure I’m not the only one who “woke up” to financial realities far too late.
(And, come to think of it, even if I do get flamed to hell and back for starting too late, the thread will be a good object lesson for younger redditors. So feel free to tell me how screwed I am.)
Submitted June 29, 2018 at 08:41PM by BetYeager https://ift.tt/2tHYKXU
