Can a 40yo starts to retirement big-save ?

 It may not be easy for young couple with kids who just started family to start saving big-time for retirement.

~~~

Someone in chat candidly detailed his $12k (x 2?) household monthly expenses; mainly:

- fixed expenses $10k

- kids enichment classes: $4k

- maid n food: $4k

- car n other expenses: $2k

- HDB + Pte condo loan: $4k+ p.m.


On investment:
Usually one will start to big-time-save for retirement around age 40s; when your kid is into teenage years.  His loan obligation may get lower.

But with so much mentors sharing, the younger ones learn better to invest; unlike us who pay for hard lessons.

For him, one hdb and one private are very commendable feat.  From his HDB Town Council charges of $80 p.m., likely it maybe a 3-rm flat?

Hefty loan risk:
But $4k+ p.m. housing loan, likely for his pte condo, is hefty and maybe risky.

What if one or both got retrench, which ever happened to few couples ?

(My first resale endowment was bought from a 30-yo young housewife whose spouse got retrenched.  She had to surrender her RevoSave policy for few $k.)

Emergency Fund safety net:
He may need to have at least one year of salary to hedge against uncertainty; which may partly be his/their OA balance to fund their housing loan.

On health,
His sharing did not talk much about health.

~~~

Blessed Gen-Z with parental financing:
For the lucky few in their mid-20s, thanks to their parents' financial help which gives them much heads-up to save for their retirement right away when they work.

Future Gen-Z can easily retire in their 50s with their inheritance from their parents.

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