Well, that's depressing. Both because the average retirement savings rate is so low overall and because my savings total is more appropriate for someone a decade younger.

That said, I've been hoarding cash and stocks to pay off my house, and the goal is within sight in less than 18 months. I feel like having no house payment (and no debt otherwise) will have a much greater effect on both my ability to save as well as my sense of security.

When my only regular non-discretionary expenses are food, utilities, insurance, and property taxes, I'd be able to live off of a minimum wage job indefinitely if I needed to. Not that I will, but it's nice to know a corporation no longer owns me.

[–] [email protected] 4 points 5 months ago

Yeah, owning your house certainly has value, regardless of the financial impact. Life is all about trade-offs, and it's why I have an e-fund despite investing probably having the better expected outcome.

And the average savings rate is also depressingly low. I'm actually closer to an average retiree than a young hire in terms of total savings, yet I don't feel anywhere close to retirement (and I'm retiring fairly lean @ ~$50k expenses). I just don't see how it works for the average person, and maybe it doesn't, and people just have to drastically adjust expectations in retirement.