Searching for Retirement
November 17, 2006
A search on pflogs.org last night for the word retirement returned 20 hits over the last two days. It’s definitely a hot topic but are we over-thinking it?
As a person under 30 it’s hard for me to project where I’ll be during retirement. That time is so far away, how do I know what I’ll want or how much I’ll need?
In light of that, I’ve been taking what I call the “Save Now, Worry Later” approach to saving for retirement for several years. Instead of worrying about how much we’ll need in the future, our family saves around 30% of our income for retirement. When the day arrives, hopefully we’ll have to worry about how to spend all the money we have!
Of course the alternative is the “Spend Now, Worry Later” approach where you spend all your money now and worry about how to pay for retirement when it finally rolls around. This approach is not recommended. If used you will be waiting for retirement to roll around for a very loooooooong time.
Check out what some of the blogs in last night’s “retirement” search have to say about retirement:
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