Submitted by iwanttocontributetoo t3_11hksa0 in personalfinance
I'm turning 37 this year and finally have a great a paying job (well, for me it's terrific--$60,000). No debt no kids no marriage/divorce no pets and I rent an apt becuase it makes more sense for my individual situation. No savings though. Can I have grand fun on my new income until I'm, say, 40? Or at what age is the point-of-no return from having screwed myself over in saving for retirement? Let's say, age 40, I'm able to contribute $10,000 a year in investments and then transfer the maximum to 401K each year until age 65, but I love my work and my dad also loved his work and he didn't retire until age 75, so maybe I can be able bodied- and minded to last that long too.
Please tear me apart to knock sense into me if needed.