i think im so focused on saving money and preparing for retirement because i dont believe i'll actually make it there. i tell everyone who asks that my goal is to retire early and use my money to travel. but the truth is that i never thought i'd survive this long, and living for another 30ish years until retirement is inconceivable to me. every new year feels like a surprise and a warning that there's not much time left. staying here feels harder every day.
20% of my paycheck goes into my 403B and i plan to up that to 30% soon. My employer contributes an additional 10%. i've also maxed out my Roth IRA for the past two years and am well on my way to doing so this year. for context, i only make about 60k per year and that probably wont change anytime soon. by doing this im actively forcing myself to live paycheck to paycheck and struggle a bit every month. my company's HR financial advisor actually told me i was being too aggressive with my saving/investments and should slow down.
But it's hard to imagine doing that, because the money isn't for me. deep down i know that i won't be here to spend it. it's for my mom to retire. i'm an only child and we're only 20 years apart. she doesn't have much in her life. once im gone she'll be mostly alone. the least i can do to pay her back for all she's done for me, and make sure she can afford to pay someone to take care of her when she gets older is to hoard my money for her now. she'll inherit my accounts when im gone. it certainly wont make her a millionaire, but i hope it will be enough to make a difference.
