RE: It occurs to me...
04-29-2012, 08:37 PM
Inflation is a thing and it's chugging along at 3 to 5 percent per year.
What this means. Say I have 200 bucks saves up now in a checking account. Next year it will only be worth 194 dollars. In eight years, my 200 dollars will be worth 120 dollars (by present standards). If that.
This is suddenly becoming a pressing issue especially now that I have to start saving from a real job for retirement which is what only 40 years from now?
On a related note:
I have less than 50 years to live.
Most of the men in my family have passed away in their seventies so I can assume that, assuming I perish in my old age, 70 years old is a safe bet - every year after that is a happy bonus. And I know that I'm a bit older than most people here but not by much.
What this means. Say I have 200 bucks saves up now in a checking account. Next year it will only be worth 194 dollars. In eight years, my 200 dollars will be worth 120 dollars (by present standards). If that.
This is suddenly becoming a pressing issue especially now that I have to start saving from a real job for retirement which is what only 40 years from now?
On a related note:
I have less than 50 years to live.
Most of the men in my family have passed away in their seventies so I can assume that, assuming I perish in my old age, 70 years old is a safe bet - every year after that is a happy bonus. And I know that I'm a bit older than most people here but not by much.