During my 20’s it was easy to live in the present, only ever thinking of retirement as being a far-off fuzzy “what if” scenario.
I’ve only recently begun to plan 15+ years out for my future. Until now, it was hard for me to imagine where I’d be (realistically!) in 5, 10, or 20 years.
I used to think that before I could save for retirement, I had to pay off all my debt. Though paying down debt definitely frees up money which helps you save more, it’s not a black and white area where you can only do one or the other. Instead, retirement savings should be a priority with paying off debt close behind.
I’m the first to admit that I’ve gotten off to a rocky and late start with retirement planning. The only thing in my corner, so to speak, is a pension plan that I have automatically contributed to for the past 13 years. However, the more I think about working for another 24 years, the more I think, can I retire before 65?