Posted on Aug 22, 2015
As a minimum, you should have $1,000 saved for each year out of high school...have you done so?
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Money Personal Finance
Posted >1 y ago
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SMSgt Tony Barnes Before my Second Divorce I could honestly say I did, but after two divorces I have absolutely nothing left to show for anything. It is what it is!
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MCPO Roger Collins
This is a complicated question COL. When I retired, all I had in the bank was $3000, bearing in mind that was a few decades ago. If you did not retire, that may or may not be sufficient to provide for you to seriously retire and get SS. Assuming it is still there. With those of us that are a bit on the far end of the age spectrum. there were pensions, medical and other benefits for retirees, civilian and military. Now most of those are gone or are going, exempting civil service. I would hate to be among the youth of today trying to manage living on what they make and trying to save for the future. All I can tell my kids is to save all that you can and invest as much as you can. Things are going to get tougher as those deficits and national debt takes their toll on us.
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COL Mikel J. Burroughs
MCPO Roger Collins You are right and my parents (84 and 80) said the same thing when I was growing up. It seems to get tougher each generation now!
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I've never heard that but I am three years out of HS with 7-8K in the bank so I guess I have it, unintentionally. About a year and a half ago it was another story though, less than $80 at one point. That was the only time I have ever been financially worried so far. Made me realize I needed to stop making stupid purchases.
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