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Old 26-12-2014, 10:32 PM
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Originally Posted by Unregistered View Post
Both of you are in a bad shape to be having only $175k per person especially when you are already quite old at 55.

Really try to get your finances in shape before teaching others what to do. I'm not a big fan of insurance agents who exaggerate about needing multi millions of dollars to retire just to sell products, but common sense tells me $175k at 55 years old is not a good sign.

You only have 7 more years of employment income before retirement and at most 2-4 more years extra if your employers are kind enough to recontract you past 62. This is with a big assumption that you don't get bumped off halfway.

Don't kid yourself that with that level of savings you are going to retire at 62 while maintaining your upper middle class lifestyle of owning a Japanese car and going on overseas holidays.
You need to brush up on your English. There is a huge difference between a saving rate of $350k and having saved up $350k to date.
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