BiggerPockets Money7 Touko 2021

194: Finance Friday: Will I Still Be Able to Hit Retirement At 60?

It’s a common concern among many Americans on whether or not they can retire on a timeline they feel comfortable with. In this episode, we talk to Deb, who’s having some of those same concerns. She has over $100,000 in assets (not including the house) and wants to be sure that she can provide a great life for her children all while saving more and more for retirement.

Deb has read so many money and financial independence forums about mid twenty year olds with six-figure incomes and five-figure savings per month. Many people read about these stories and feel like they can’t compare, but if you’re in Deb’s situation, you’re already doing well with retirement savings! It can be dangerous to compare your journey to others who’s backstory you don’t know. That’s why we encourage everyone to save, invest, and spend at a rate that works for their goals!

In This Episode We Cover

Finding side-income sources and business that will help you with retirement savings
Keeping an expense tracker and budget so you know exactly what you’re spending
Having a sizeable emergency fund so you’re never in a bad position
Giving every dollar a purpose in your budget
Setting up your children with Roth IRAs so they can start investing sooner
And So Much More!

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