September 16, 2008
It’s True: 85 is the New 65.
About 12 years ago, my little company started up a SEP-IRA so employees could share in what little profits we make and defer some income for retirement. For me, it represents my entire retirement savings, and what I’ve been able to put away is invested in various Fidelity mutual funds. Like lots of other people, I got clobbered after 9/11 when the stock market went south, then again when the high tech bubble burst. Since January, I’ve experienced steady losses in value as the recession took hold and this week the bottom dropped out of the stock market again following the Freddie-Fannie-Lehman-Merrill meltdown. I just recalculated what I have against what I need and concluded I’ll now be able to retire at age 85. (More)
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