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Money and Finances
Reply to "What's your age / 401k balance"
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[quote=Anonymous][quote=Anonymous]Late 50s, and $500k. (Single.) Now before DCUMers post that I'm way behind, the median retirement savings for people 55-64 is only $45,000. Unless they are government employees with pensions, I don't know how they plan to live. https://www.debt.com/edu/personal-finance-statistics/[/quote] People think they need way more than they do. Controlling expenses is as important as how much you save. While I'm not personally pursuing it, reading the "FIRE" (financial independence, retire early) community on the web has really opened my eyes. I think there are some holes in their long term plans (health care being the biggest), it really makes you chill out and appreciate how much you can do with $500K invested correctly. [/quote]
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