By 35…

I’d never really thought of MarketWatch as a leading newsmaker, but after their social media post noting that “By 35, you should have twice your salary saved, according to retirement experts.” They’ve experienced their 15 minutes and then some.

The thing is, if you’re contemplating what it takes to achieve a “normal” retirement at the “normal” age in the “normal” way, their post isn’t broadly off the mark. Their point, beyond being something that seems to beggar belief to millennials, is that if you ever want to retire in the traditional sense of the word, you need to plan for it… and more importantly you need to save for it. Only you know for sure what right number – 2x, 10x, or 50x your annual salary invested – is going to meet your needs at any given time along your glide path.

“But,” you say, “Everything is so expensive. I have loans, and bills, and kids, and a master’s degree in advanced basketweaving. I can’t save anything.”

That’s fine. In many cases those expenses came along with decisions you made. That means you placed a premium on those other options rather than building a stable platform for retirement. It means you’re going to have to work past the traditional retirement age or contemplate a significant lifestyle change in order to realign you financial priorities. In some cases, especially for those who decide the whole long-range planning things is just too hard, you may have to accept that there’s a good chance you’re going to die in harness.

I got my first “grown up” job at 22. Making about $30K a year, paying rent, a car note, household bills, buying groceries, and all the other expenses that come along with being a grown ass man. It sucked. Money was always short, but before I saw a nickel of it in my checking account $25 of every check that first year went into my retirement account. Let me be clear on this – to me, back then, $50 was a shit ton of money to “do without” from month to month. There were a lot of things I could have spent that cash on to make life a little more civilized and comfortable that first year. The thing is, even at 22, when I still believed I was on my way to a long and fulfilling teaching career, I knew I didn’t want to still be touching America’s youth when I was in my 70s.

Here’s the kicker: Life isn’t easy. It’s full of hard decision, medical emergencies, and events that don’t work out quite as you had planned. Take it from a guy who changed careers, lived through five regional or cross country moves in 18 years to follow better opportunities, and then took a bath on a house he bought at the height of the real estate bubble. I know this shit isn’t easy.

There are precisely 300 million websites out there that can help you develop the mindset and skills that make retirement a thing that’s possible. But it means you’re going to have to do more hard work and educate yourself on the topics and the tools available. If you’re sitting around waiting for someone to do it for you while shitposting on Twitter, well, I guess you’re right – retirement is definitely never going to happen.

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