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I'm mid-40s, and have only about $50k or so saved in IRA/401k after believing and following slowlane principles for ten years. I mean, on the low end of retirement we probably need around 3 or 4 million, and we've saved only 1.6% of that. According to a slowlane retirement calculator, to be on track for that amount we need to save $6000 per month LOL!
After reading multiple business books and especially The Millionaire Fastlane and Unscripted , it seems pointless to me now. Like putting pennies in a piggy bank to retire on. And after an unfortunate 2020 I find myself with about $30k debt that I didn't have a year and a half ago. I'm supposed to be aghast at the idea of taking any of that retirement money out because of the penalty fees and taxes, but I can't help but be attracted to the idea of blowing away that debt to have a clean slate and freeing up an extra $1500 or so minimum payments per month. Ease the monthly burden, help my wife start her business and start my own.
I'd ask a financial advisor but I bet they're only going to give me slowlane advice (don't touch it! put more in! etc).
After reading multiple business books and especially The Millionaire Fastlane and Unscripted , it seems pointless to me now. Like putting pennies in a piggy bank to retire on. And after an unfortunate 2020 I find myself with about $30k debt that I didn't have a year and a half ago. I'm supposed to be aghast at the idea of taking any of that retirement money out because of the penalty fees and taxes, but I can't help but be attracted to the idea of blowing away that debt to have a clean slate and freeing up an extra $1500 or so minimum payments per month. Ease the monthly burden, help my wife start her business and start my own.
I'd ask a financial advisor but I bet they're only going to give me slowlane advice (don't touch it! put more in! etc).
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