Will not be investing for the next 7-9 years, can I still catch up?

[ivy]

@ari3l654 Another thing to consider is that social security is using your 35 highest salary years to calculate your social security income once you retire. Every year you don't make money in the US will count as $0 on your record. It will set you back additionally, aside from not being able to contribute to your retirement accounts. Every year you retire before 70 will make a huge difference in your SSI. Not wanting to worry you even more, bit better to know and be aware beforehand.

 

[kasandra09]

@ari3l654 120-130k / year is pretty extravagant for retirement. It’s not realistic with your current savings.

Even if you are in a high cost area, can you reel in your expenses to save? Not sure what your lifestyle is but if you want to retire “comfortably” on 50-100k/year, you still need to tighten your belt. I can assure you if I cracked down on your budget /expenses, you will be able to save.

 

[moonblader]

@ari3l654 This is all just math. Spend some time with a compound interest calculator, and I think you’ll find that catching up is difficult. If you can’t afford to save, then in my opinion, you can’t afford your quality of life and you need to start cutting out everything you don’t need.

 

[blmnky422]

@ari3l654 I didn’t see anyone mention this yet.

If you are living and working overseas try to take advantage of the foreign earned income exclusion to reduce your US tax burden. I didn’t see where you will be living so unknown local tax burden but this should help you put some money away.

Save whatever you can and don’t rely on SS being there when you retire, it won’t be much of anything.

 

[gregkcook]

@ari3l654 Why come back to the states. You can expat somewhere and live better. Thats what I would be planning in your shoes.

 

[mjj]

@ari3l654 You’re fine dude, if you’re single you can easily retire with 500k in another country and live comfortably.