The future...

[dinav]

Hubby has MLK day off, so he went to talk to our investment advisor to get an idea of what we need to have in our portfolio to be able to live when we retire. With the aging baby boomers nearing retirement, it's highly unlikely that those of us under 40 would have enough to live on when it comes to retirement age - it's like we HAVE to have

Comments

[breezie]

I work for the county, and we have a retirement plan, but not 401K. Unfortunately, we're the lowest paid county employees in the state of California, and the current retirees don't make much more than I do in a month, which is barely above poverty level. if I increased my contribution by just 3%, my take home pay would be less than $1100 a month.

you're a lucky lady.

[dinav]

Damn...sorry to hear that such opportunities aren't feasible to you. :( I used to live in Cali, so I know how high the cost of living is. I've also done some consultant work for Cali in the government section, so I do know how tough it can be for those that work for the state.

When I moved to WA state, it actually was a raise for me even though I started out making a little bit less than I did in Cali - there's no state income tax in WA. Cali is just a heavily taxed state compounded with a high cost of living. :(