#002---Retire at Age 60
December 13, 2012
This is one of my two original goal from when I first started my bucket list back in 2000. So admitting failure on this goal really hurts me. In 2000 the dot com boom was at its apex. People were making money hand over fist. The stock market had blown through 10,000 points on the DOW and in deference to the Y2K (Year 2000) people were clamoring about NASDAQ5K, the date at which the NASDAQ would hit 5,000 points.
Then in April 2000 or so, the market crashed. I wasn't terribly worried about that. I mean I was only going to turn 36 in a few months. Back then my goal was to retire at age 55. I thought nearly 20 years was plenty of time to accumulated around 2 million in 401(k) and IRA assets, plus build enough of a nest egg to bridge the gap between 55 and 59 1/2, when I could begin tapping my retirement accounts.
Two or three years ago, it became obvious that I would never save the bridge money. I would start, get a few hundred, I even crested a grand at one point. Then something would happen and rather than take on credit card debt, my bridge money would disappear. I think I have about $15 in my Early Retirement fund as of now. So I changed this goal to Retire at Age 60. I figured that was still doable.
Then came the crash of 2008 and the non recovery we have been in for four years. I did not help myself by getting completely out of the stock market while it rose 2000 points. I was so afraid of the coming European crash. But, I was at least hopeful that once Obama was out of office, in 2012, the economy would recover and all investments would rise. Well, we all know what happened with that election.
I now have no confidence that I will ever save enough to retire early. I am not even confident I can retire when my Social Security will kick in. I may have to work until the day I die. So it is with a very sad heart I surrender this goal to the Canceled heap and lick my wounds.
This is one of my two original goal from when I first started my bucket list back in 2000. So admitting failure on this goal really hurts me. In 2000 the dot com boom was at its apex. People were making money hand over fist. The stock market had blown through 10,000 points on the DOW and in deference to the Y2K (Year 2000) people were clamoring about NASDAQ5K, the date at which the NASDAQ would hit 5,000 points.
Then in April 2000 or so, the market crashed. I wasn't terribly worried about that. I mean I was only going to turn 36 in a few months. Back then my goal was to retire at age 55. I thought nearly 20 years was plenty of time to accumulated around 2 million in 401(k) and IRA assets, plus build enough of a nest egg to bridge the gap between 55 and 59 1/2, when I could begin tapping my retirement accounts.
Two or three years ago, it became obvious that I would never save the bridge money. I would start, get a few hundred, I even crested a grand at one point. Then something would happen and rather than take on credit card debt, my bridge money would disappear. I think I have about $15 in my Early Retirement fund as of now. So I changed this goal to Retire at Age 60. I figured that was still doable.
Then came the crash of 2008 and the non recovery we have been in for four years. I did not help myself by getting completely out of the stock market while it rose 2000 points. I was so afraid of the coming European crash. But, I was at least hopeful that once Obama was out of office, in 2012, the economy would recover and all investments would rise. Well, we all know what happened with that election.
I now have no confidence that I will ever save enough to retire early. I am not even confident I can retire when my Social Security will kick in. I may have to work until the day I die. So it is with a very sad heart I surrender this goal to the Canceled heap and lick my wounds.