The Road To Retirement

Most of the focus on this website is all about retiring and retirement. There is always good reason to ponder: "What will I be like in retirement? What will I be doing? How much will things cost in retirement? How am I going to live in retirement?" Fortunately, all of these are fair questions to ask and none that should have you spending more than a few minutes wondering.

If you think about how you are going to be in retirement, the chances are, unless you hit the lottery, acquire an inheritance, or somehow become determined enough to make a product that no one knew they needed but loved, you're probably going to live the same exact lifestyle that you've been living for the previous decade. You probably spend around $200 or $300 a month on groceries, another $200 or $300 a month going out to eat, $50 a month on gasoline, $300 a month on utilities, and your mortgage is probably nearly paid off or is affordable. So your expenses are likely to be around $1200 - $1500 per month. Fortunately, if you did work your whole life, your social security check will cover nearly all of that. Add in a 401k, an IRA, or a pension, and you will be fine.

All prices are going up in your retirement. The cost of living going up is inevitable. It happened to your great grandparents, your grandparents, your parents, and it will happen to you and your children. As of 2022, the Biden administration has been dealing with a huge inflation issue and rising prices in gasoline that will now be shown in the historical books as being one the most expensive times to live. Eventually, a correction may come along or a bigger workforce and drive prices down a bit. You can expect any of your social security money and any retirement plans to help cover.

As far as what you will be like and be doing in retirement... is a unique question for everyone. Some people choose to stay home and watch television all day. Some just sit out by the porch and go run random errands. There are plenty in retirement who are still actively working. Sometimes part-time, sometimes full-time, depending on what social security allows one in retirement to do. If you worked your whole life, you probably want to slow down, spend time with your children and grandchildren.

If you were a hard worker and just never wanted to stop working, there are plenty of people who continue to work in a variety of jobs. Older people are sometimes in more demand, due to their routine ability and usually showing up, showing up on time, and doing the job they need to do. This is not to say that younger generations aren't performing the same tasks, but the older generation is still relied upon to be a part of the primary workforce.

The road to retirement is long but it comes quicker than you think, as you establish a career and begin to transition out of small-time jobs into more stable work. The years will pass you by... you'll date, maybe meet someone interesting and good for you, have children, and you will be putting money into your 401k or IRA. Before you know it, at 59 1/2, you will be able to start collecting from your 401k which may even help you begin to alleviate any of your existing debts before you turn 60 years old. You will do the best in your retirement if you have no pre-existing debts.

While the road to retirement is a real place and it does exist, it is not a place where you simply just get there. At 35 years old, you still have about 29 years until you begin to reach territory that may not look so familiar, but comes to slow speed limits and allows for you to slow down in your life and enjoy it. But do not forget to enjoy your life in your teens, twenties, thirties, forties, and fifties. Beyond that... keep enjoying this great and wonderful life, a life that allows for you to live in and enjoy your retirement.

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