How much is enough? Saving for our future selves.

Having worked in finance for virtually my entire career, I’m no stranger to the never-ending articles that target us from the beginning of our careers that have encouraged us to “save for our future selves”, i.e. retirement. And theoretically, this makes sense, but in reality, it can be daunting.

Don’t get me wrong- there are literally thousands of resources to help us figure out what our “number” should be. While there are some people who love these tools and know where they stand, there’s no question that the very topic of retirement gives us flat out anxiety. For one thing, there are many people that struggle with today’s financial challenges, so thinking about tomorrow may seem like a luxury that’s out of reach. For the 30% of people that find themselves single in middle age, the more pressing issue may be around having enough money to go it alone in retirement. If you don’t have children, this may be even more nerve-wracking.

So, as I ponder the question about how much is enough, the answer remains, “It depends.” There IS no magic number or formula that consider all the complexities that affect us individually. But hiding from the reality that all of us live in bodies that may not allow us to work is a fools errand. I encourage you to find free financial resources that may help you along your path. Check out this course from Dow Janes. Please be diligent about any sales or conflicts of interest that may exist.

Mostly, I’m encouraged by the creative solutions some friend groups have come up with to share the burdens of aging. The Birds Nest is a solution that definitely peaks my interest! It’s sparked interest in my circle in potentially creating our own solution. I’d be interested in your thoughts on the topic.