As much as I hate the fact that generations past have fooled themselves into thinking there is a free lunch, and when it disappears they can force the rest of us to pay it – it is rather sad to read about old people having to realize that their retirement is about to become un-retirement. Please take this time to realize that hard times are coming for the current retiring generation, and the next, and those after (that’s me). I have 40 years to save up for retirement, although I doubt I’ll ever retire, and might not reach the age 65. But those of you who are a generation before me seriously need to see the painting on the wall. You have 20 years to accumulate all the money you need to be able to retire. There is no one coming to help you. Once, or so I’ve heard, people in their mid-40′s where supposed to be the “prime savers”, pushing away large swaths of cash for their retirement. I strongly suspect this isn’t the case anymore.
Me – I’m making sure I’m accustomed to saving 30% of disposable income. I heard that has served many an aspiring Chinese middle-class a long way. And to be completely honest – with all the GARBAGE people consume these days, it shouldn’t be that bloody hard.