Where do I start with retirement planning?

Albermarle

 I think I hadn’t really had my retirement lightbulb moment until recently and belive it or not I thought we would be ok! 

You probably are OK compared to >50% of the population but just maybe a little over optimistic in your plans .

As I said before being able to retire at 55 and have a reasonable lifestyle , is not really feasible for most people .

More for the very frugal or very well paid.

crv1963

Thick_n_Thin said:

I think I hadn’t really had my retirement lightbulb moment until recently and belive it or not I thought we would be ok! 

I think that is where most of us start with thinking we'll be okay, then the harsh light of reality glares down. I was in the same position of thinking we'll be fine, then an enforced period of sick leave gave me the time to really examine our figures, especially looking at the when we could afford to go. Mrs CRV did give me a reality check on how much we actually need, I under-estimated our outgoings, so we've been working to increase our savings rate while trying to drop our spending rate.

Lock down spending reduction has really brought home how much waste we still had, still want to live a life as well as save but possibly not as extravagantly. We're fortunate we both have been working throughout, so even with helping furloughed son we've managed to keep/ increase savings rate.