# Retirement



## CrazieJones (May 28, 2011)

So I'm 29. Long ways away before I can even think of the big R word, but at the age to really think seriously about saving for retirement. I have a retirement savings plan with work. The advisor came in to give us a talk about our plans (due to the drop in the market the last few months) and discuss retirement. So he basically said that to retire comfortably, he advise his clients to have at least 1 million dollars in savings. If each year of retirement, you take out 40k + governent cheques (here in Canada, we have the Canadian Pension Plan, and Old Age Security), you can be comfortable with 50k/yr, given that your house is also paid off. 

To achieve 1 mil at 65, you will need to have about 125k at age 25-30. 

LOL. At 25, I was 15k in debt due to student loans (which is considered little already). Now at 29, I have a mortgage and a wedding to plan. I will not achieve my 1 million at 65. 

So, with that being said... at "retirement", I think I'll be living in a cardboard box with my hav. Wait... cardbox = paper product = shredding product for dog. No shelter. And if I have my grandma's genes, I'll be living in such conditions until 90+ years old. It's going to suck...


----------



## krandall (Jun 11, 2009)

CrazieJones said:


> So I'm 29. Long ways away before I can even think of the big R word, but at the age to really think seriously about saving for retirement. I have a retirement savings plan with work. The advisor came in to give us a talk about our plans (due to the drop in the market the last few months) and discuss retirement. So he basically said that to retire comfortably, he advise his clients to have at least 1 million dollars in savings. If each year of retirement, you take out 40k + governent cheques (here in Canada, we have the Canadian Pension Plan, and Old Age Security), you can be comfortable with 50k/yr, given that your house is also paid off.
> 
> To achieve 1 mil at 65, you will need to have about 125k at age 25-30.
> 
> ...


Wait till you have to put your kids through school... all your retirement savings go away anyway!ound:


----------



## Brady's Grandmom (Nov 11, 2008)

Karen you are sooooooooo right!!!!!


----------



## Sheri (Oct 11, 2008)

"So, with that being said... at "retirement", I think I'll be living in a cardboard box with my hav. Wait... cardbox = paper product = shredding product for dog. No shelter. "

ound:


----------



## TilliesMom (Sep 30, 2010)

hahahahaha... awwwwwww at least you'll have your hav to keep you warm!! 

I think saving in anyway is often times a 'joke'! Espeically when you are living pay check to pay check... how the HECK are we supposed to save!?? 
We were very fortunate to buy our house before the big 'boom' and are hoping to have it paid off in another 15-20 years ... we figure if we can do that, then we are in good shape... LOL 1 mil in SAVINGS? ha ha ha ha what planet do THOSE people live on!!?


----------



## Becky Chittenden (Feb 4, 2009)

I retired in August and my husband retired early 10 years ago. My suggestion is to first get in a situation where all you owe is perhaps a mortgage and maybe a car. Lifestyle is different now than when I was 29. We both were able to retire much before our full social security dates, especially my husband. We have 2 children who went to private schools. I see young people eating out and ones I worked with did so several times a week. Until our children were out of high school, we ate out about once a month, and not at the most expensive restaurants. We didn't order any acholic beverages when out. We rarely went to movies or plays. We paid extra each month on our mortgage and car payments. Basically, it is a mindset: spend now and enjoy being young or save and enjoy your older years.


----------



## CrazieJones (May 28, 2011)

Retirement to me is a joke now. I think I will HAVE TO work my entire life. Hopefully not as an engineer (it is seriously a job I enjoy, but not a passion). Maybe I'll learn to breed puppies to make some extra cash? Or part time at a scrapbooking store. I heart scrapbooking.


----------



## Diann (Apr 25, 2011)

I have dreamed of retiring at 55 for many years, the earliest a person could retire with full benefits where I work. I'm three years away from that goal and my daughter is almost 18 and a senior. We just went on another college visit yesterday and guess what, I don't think I'll be retiring at 55.  

Maybe I should start playing the lottery.


----------



## CrazieJones (May 28, 2011)

My life is too expensive. I have expensive hobbies: dog, video games, and scrapbooking. 

I have a small Cricut. I want the new Cricut Expression 2. Sigh. 
Any scrappers out there?


----------



## Becky Chittenden (Feb 4, 2009)

Diann, look hard for scholorships, get the guidance counselor moving on that too. We paid only living expenses for our kids. OK, one was valedictorian of her hs class and a National Merit finalist, but the other was a just better than average student (not that he couldn't have done better, just not that motivated until he was almost out of highschool. 
It surprised my how much money there is out there for kids for college tuition.


----------



## CrazieJones (May 28, 2011)

My parents only supported me with living costs too... i.e. I stayed at home for free and they paid for my gas money to drive to school or to the train station. 

My tuition was paid by scholarships, bursaries, summer job paychecks, and student loans. 

I'm already lucky that I only accumulated $15k of student loan debt. Grad school's scholarships and teaching assistant pay helped me pay it right off after graduation. So I was debt free after graduation. 

That is also my tuition was still considered 'affordable' for a middle class family ~$5000/yr with txt books. I can't imagine what it will be like when I have kids and them going to university.


----------



## TilliesMom (Sep 30, 2010)

Hey Cassie! I'm a scrapper!  Although I have temporarily 'given up' as I am 4 yrs behind and with the kids, tillie and work I just don't have the time right now... I am going through and ordering and just putting pics in photo albums. I am up to January 2008 ... I am hoping to catch up and then just start where we are at, otherwise it is just SO overwhelming right now!! My kids each have a "1st year" scrapbook and I kept a family one from 2000-summer 2007, but just can't keep up! I DO scrap our vacations though in thier own album and NEED to put together/start the kids individual 'school years' scrapbook as well. See. OVERWHELMED. LOL


----------



## narci (Sep 6, 2011)

in canada, university is subsidized..i think it is about 3-4k per semester. plus, you can get gov grants (OSAP) fairly easily. i had friends get like 8-9K a year when they didnt need it.


retirement, saving...very slowly. my first home buyers withdrawl took a chunk out of my rrspm


----------



## CrazieJones (May 28, 2011)

TilliesMom said:


> Hey Cassie! I'm a scrapper!  Although I have temporarily 'given up' as I am 4 yrs behind and with the kids, tillie and work I just don't have the time right now... I am going through and ordering and just putting pics in photo albums. I am up to January 2008 ... I am hoping to catch up and then just start where we are at, otherwise it is just SO overwhelming right now!! My kids each have a "1st year" scrapbook and I kept a family one from 2000-summer 2007, but just can't keep up! I DO scrap our vacations though in thier own album and NEED to put together/start the kids individual 'school years' scrapbook as well. See. OVERWHELMED. LOL


Oh, I so know what you mean! Every morning I get up, I'm like I'm going to scrapbook after work. When I get home, settle, and finish all my nightly duties, I just want to vegetate on my couch.

My 'general' scrapbook is about 2-3 yrs behind. Good thing I don't take a lot of general pictures to scrap. Roshi will be going in there... one day.

My Europe Trip 2007 scrapbook is half done and I have also lost interest.

I am slowly working on my Ireland trip 2010 scrapbook. Progress is sloooooow. Sigh.

So... I decided NOT TO scrap my wedding. Forget it. Maybe I'll just make one page of just..."I'm Married" in the general scrapbook. LOL.


----------



## CrazieJones (May 28, 2011)

narci said:


> in canada, university is subsidized..i think it is about 3-4k per semester. plus, you can get gov grants (OSAP) fairly easily. i had friends get like 8-9K a year when they didnt need it.
> 
> retirement, saving...very slowly. my first home buyers withdrawl took a chunk out of my rrspm


LOL. Me too. My financial advisor provided me my finance statement. Right now, I can afford 1/2 month of retirement. I'm screwed.


----------

