"Trying to 'time' your retirement funds is like trying to cross the Mohave Desert... on foot... with just the water you can carry. You may make it... but do you really want to realize you can't in the middle?"
I recently conducted an impromptu, exceedingly unscientific survey of a non-random sampling of adults of a certain age and disposition... i.e., over 35 with jobs, kids and a mortgage.
What I wanted to know was how they are thinking about retirement.
The results were not encouraging.
The vast majority (12 of 14) said they don't foresee retirement as a possibility and assume that they'll leave their last day of work on a stretcher. I didn't have the heart to bring up the very real prospects of ageism and downsizing.
The other 2 (a couple) said they have a secret plan and that they could tell me... but then they'd have to kill me.
I was thinking about my little experiment when I ran across an article with this video.
In short, to generate $60,000 per year in retirement income without depleting the principal, you must build a $2,000,000 nest egg... assuming the very modest 3% annual interest from the bond-style investments you'd be holding at that point.
Hmmmm... No wonder people are quick to default to the "work until death" strategy.
There are better, more efficient approaches than trying to save $2,886 per month.
Stick around this blog (or more likely my email list) and we just might discuss a few of them😉.