The Phaserl


Eleven Point Plan to Bust the Myth of Retirement

by Gaye Levy, Back Door Survival:

Four years ago I was both a newbie blogger and a newbie prepper. To be honest, I had a lot of angst about a lot of things. Unemployment was rampant, the housing market was in shambles, and people around me were suffering. As a woman of a certain age, I was upset and wanted to do something, anything really, to relieve some of the stress while sharing my new found journey down the path of preparedness.

At the time, my long time friend, George Ure, suggested that I start a website that would complement his own Urban Survival website. Little did I realize that this small suggestion, made in passing, would become a life-changer.

This is not the article I intended to write today but for a number of reasons, my focus changed this afternoon and after my daily hike, I decided to shift gears and take a walk down memory lane and share a newly updated muse having to do with the promise of retirement.

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1 comment to Eleven Point Plan to Bust the Myth of Retirement

  • Ed_B

    Articles like this often contain a good bit of truth in them but also seem to smack of whining. The fact is, LOTS of people are now retired. I retired at age 55 in 2004. I was able to do that because I had the discipline to make the sacrifices that early retirement requires. No, it is not easy. It’s not simple either. But it IS possible IF people work hard, plan well, spend frugally, save religiously, and invest wisely.

    Yes, mistakes will be made and set-backs encountered. That happens in life. But these too can be overcome… and have been by many of us. Retirement planning is not a sprint, it is a long road that one travels for 30-40 years.

    Forget the old advice about saving 10% of your income and you will be fine. That is no longer true, if it ever even was true. Saving 30-40% of your income is a lot more realistic for those who desire an early retirement. Yes, this is possible for those who have reasonably good jobs. The trick is not to fritter money away on toys and other useless junk.

    Finally, it is not possible to save enough money to retire in comfort unless one has a VERY high paying job. For most people, they will have to invest their money in order to amass enough of it for a comfortable retirement. Company retirement plans are also a good source of retirement cash, the 401(k) type plans being especially good when matched by the employer.

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