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Not anymore, with the way retirement works, you may be given the permission to retire if the markets were lucky. However, when you account for inflation, state tax, local income tax, property tax and bills the chnaces of you retiring comfortably against so many unknowns (you tell me what your car insurance rates will be 40 years from now), is zero.
I suppose that is true depending on how we look at retirement.
Generally I think of retirement as the year you stopped working, which coincidentally is the year you died homeless with nothing left to your name because you ran out of money.
Even if markets are lucky, and you were in the right place at the right time, the average man wouldn't be so fortunate.
Personally I've given up on the idea of retirement, and hope to transition to other ventures that are more suitable towards an aging body. Or better yet to die while I am able bodied rather than old, incapable of knowing who my children are, and wondering what the Y2K bug is going to do to us come new years.
The way i see it, retirement forces you to look forward 40 years of your life against insane unknowns (inflation rate, property tax rate, debt to income, income tax rate, property tax rate). No one can plan for these unknowns. And the thing is i have a roth IRA with a feww hundred grand in it, and i cant justify keeping it around in today's climate. Either the dems tax it to shit and back eliminating the tax advantage, or it gets converted into public retirements, like they have already stated they want to do. In both cases, a huge loss to me.
Indeed, and by having the large sum you are hit harder with inflation.
Pulling it out causes additional penalties which are even more burdensome.
I've got 401k and minimal savings, risk relying on my job and stock pile tangible goods that do not devalue as easily. (ammo/guns/long-term storage foods/precious metals (very few metals as they are harder to trade))
The goal is to safeguard against the biggest known threat, which is inflation. The rest are waves that come and go, and are unpredictable.
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