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Reply to "Why do people think Retirement Age is 65?"
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[quote=Anonymous][quote=Anonymous]I’ve saved 25-50% of income since graduating, so I’m out no later than age 50, but probably done at 45-47.[/quote] Ha Ha, I saved that too. You have no clue how much things cost in the future. My college was $3,000 a year. My kids college are $50,000 a year. My Parents rent controlled apt was $97 dollars a month when a kid, my house costs me all in around $6,000 a month. My Dad could buy a good used car for $500 bucks, I need $20,000 for a good used car. Someone who is 30 today cant comprehend by 2076 when old and retired their monthly expenses will be 10x what they expected. My MIL her property taxes annually are same price she paid for her house!!! She paid $13K for house in 1966 and 60 years later she pays $13K property tax. Can you imagine paying 1.5 million for a house in 2026 at the age of 29 and in 2097 when you are 89 paying 1.5 million a year in property taxes each year. Thats what happened to my MIL. [/quote]
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