Lets say the house is being paid for....so how much is enuff to
retire comfortably ? 55y old ...
Hmmm ... if the house is being paid for then really with $2-3k
mthly salary I do not think there would be much saved assuming you
did not want to stinge like a scrooge for the better half of your
life.
Another question would be kids.... having them would also mean
you would have to pay for their 20 or so years.
So whatever sum you come up with you will have to budget for the
above 2 factors..... oh and there will be inflation as well.
On the contrary you can choose to reverse mortgage but with kids
it might not be an ideal choice.
Maybe that's why the new generation are not so willing to have
kids.
And therefore the garment implemented importing foreign labour.
A quick fix to a still ongoing problem.
Go to the root of the problem and solve the buying power of the
masses and maybe you won't have this problem to begin with.
And really to be wondering about whether you can retire is sad.
If you have been working for the better part of your life....
really the system should not have you to be afraid of your ability
to retire.
My 2c
