New news from the Fed:

Fake rates. They make the money on the front end by charging more for your purchase or giving less for your trade.

There is no 0 money. They aren't your daddy letting you pay as you go on principal only.

They reel in folk who think 'I can make the payments' is the same as 'I can afford it'

 

You are right. Very few have a year’s compensation in savings. That is what is worrisome. Most choose to live check to check or have not saved enough for a substantial emergency. What I meant by not worrying about losing my job is that if I did, I would be able to take my time finding another and not be stressed about paying bills. It is liberating not to be dependent on the next pay check. As far as retirement, I am thinking early 50s.

 

55 would be an excellent accomplishment. Very few people can do that. Good luck!

 

Thank you. I am very fortunate to be in a pension system since I teach. After 30 years of service, we can pull full benefits. I will most likely work for fun part time to keep busy.