… and that’s the number I want to retire with.
Seeing as I’m only 23, many of my 20-something counterparts seem to think we have the better part of forever before we have to start thinking about retirement. Unfortunately, this isn’t quite the case. Putting off saving for retirement may seem like a good idea at the time, but in reality you are just going to have to save more money in the long run.
Having just under $10,000 socked away for retirement, makes this goal seem exceedingly unrealistic. But, as with anything the trick is patience, persistence and maybe just a little bit of luck.
Retirement age for the average Canadian is 65. I’d like to have the option to retire at age 50, which means I have 1,990,000 left to go. If that number is as intimidating to you as it is to me then fear not, if you’re young, like myself you have time on your side! The important thing is that you start now. Don’t wait till your 30 to start socking money away for your future self, it will only delay you getting to enjoy the nest egg you have built.
I like to obsess about numbers, after all I am an accountant…