Short blog posts, journal entries, and random thoughts. Topics include a mix of personal and the world at large. 

By age 35, you should....

The above tweet caused a humorous row on Twitter, with legions of millennials mocking its futile commandment. Twice my salary saved up by 35? Perhaps you mean twice the salary in debt? What's this 'retirement' you speak of? Double the salary is easy when you have a salary of zero! 

While I enjoy the hilariousness of people's responses (it's why I can't seem to quit Twitter, after all), I failed to find anyone argue the "rule" itself is intrinsically flawed - because it isn't. It seems the need to save for retirement is an universally accepted truth; it's just that in today's economy of stagnant wages and high housing costs people find it bloody difficult

I have to call bullshit, though: anyone absolutely can and should save money, for retirement or otherwise. While double the salary by 35 may be not applicable for everyone, it's a fine goal to work towards. I'm fairly certain no one has ever complained they've got too much money saved up in the bank. 

Back in my childhood our family of four lived entirely on my father's measly salary of $1,500 per month yet however miraculously my parents still found ways to put money away every month. It wasn't easy in execution but as long as the spending is always less than income they were satisfied. 

The habit has passed on to me and it's serving me excellently. 

I'm 30 this year, and on my current employment trajectory the goal set by MarketWatch is attainable should I choose. I'd need to perform some hardy austerity to get there so we'll see how it plays out because I'm not one to miserly store away money - in the expense of the now - for a future that may never arrive.