if it weren't so depressing. I'm not in the worst shape for retirement, simply by virtue of having invested paltry amounts at a really young age (thank goodness my parents were really adamant about that back when I had my first high school job, instilling good habits that I then...totally couldn't keep up once I had a good job, a marriage, a house payment, and a car payment). But I still have lost time to make up for, like pretty much everyone I know.
I'm also off the property ladder, having unloaded my Phoenix townhouse and moved into a rented apartment in Brooklyn. I'd love to own again, but I also just love my neighborhood, which is full of elderly places that require massive maintenance fees over and above a mortgage payment. I can just about conceive of a time when I could afford the mortgage, but between the payments and the maintenance fees, I'd have to give up investing for my retirement.
I guess the good thing is that if I keep saving like these folks, I might eventually have a large enough down payment to do both. Or, if prices keep going up, making buying here eternally out of reach, maybe I'll just have to buy an investment property somewhere else. It does feel good to see these people beaming in the rosy glow of home ownership. One of these days....
Monday, July 30, 2007
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Saving for our retirement is always a hairy subject. I find myself abstaining from making extravagant purchases or traveling so I can save, because I've basically concluded that I will not be able to benefit from SS by the time I reach the age. Besides, it wouldn't be enough to live on unless i moved to another country where the standard of living wasn't so high. I think you're idea of buying elsewhere like a summer place might be good.
PS. by the way... I tagged you for the 8 random things about yourself (though don't feel obligated)meme...http://nkilkenny.wordpress.com/2007/08/02/359/
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