Retirement fears

I guess I need encouragement. I'm retired with not a lot of retirement put away. (that's a long story about a significant other). I'm still working,enjoying what I do and make good money.. I often feel that it's too late for me to put away more of a nest egg.I'm paying on a 'forever' car which I love and wanted for safety at 0 interest.  But,I often get frightened and depressed about it when I see my colleagues traveling and 'enjoying life.'  

Are there other 'retirees' in a similar situation?

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  • I am very far from retirement, but my parents are close to your situation - not yet traditional retirement age, but only 6 years away. They had retirement savings in their 40's, but cashed out to start a business, which was ultimately not successful. They have been rebuilding over about the past 5 years.

    I don't think it's ever too late to start building a nest egg. The best time to start was when you started working, but the second best time is now.

    I don't know your financial situation, but there are lots of opportunities for those in your age bracket to do catch-up savings for retirement, which get around the normal contribution limits for 401ks and IRAs. Here's an article from Investopedia to get you started.

    Don't compare yourself to the retired Joneses. We all make different decisions and take different paths in life, and all of those decisions and paths help to make us who we are. You are doing great, and this forum is here to help support you.

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  • I really appreciate this!

    Your parents' situation sounds very much the same as mine. I have a great job now for which i am very grateful. I never thought my skills would be in demand. Thank you for the article as well.  YNAB is helping me stay focused right now.

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    • MsTJ
    • YNAB has given me back my future
    • Believer_in_YNAb
    • 2 wk ago
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    Blue Falcon said:
    I often feel that it's too late for me to put away more of a nest egg.

     It's never too late to plan for the future.

    I am also "retired."  With a lot of help from YNAB, I am living on less than I bring in and therefore not too worried about it. Every month I put a little something aside for those things that come up.  You can do the same, just stick with it and learn what spending is and isn't aligned with your priorities,  Cut the spending that isn't aligned with your priorities and you will have more for what is.

    Like 2
    • MsTJ
    • YNAB has given me back my future
    • Believer_in_YNAb
    • 13 days ago
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    Like 1
  • Thank you so much! I also interviewed for another part time job that I excited about and thinkI  have a good chance. Much appreciated..I signed up for that website as well.

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