Since we’re in a retirement flow here at EconoWiser I thought I’d check out how much (or little?) I would receive from my retirement funds. In The Netherlands we have a neat website which allows you to log onto and check out all the details on your retirement. Seriously, the whole thing is connected with almost all retirement funds. Easy, right?!
Now, obviously I get that these figures really don’t mean anything but I thought it would be fun (???) just to check them out. By the time I can officially retire the retirement age will have increased and a thing called inflation will have done it’s job as well.
So, I started working for the government when I was only 20 years old. There was a huge shortage in the thing that I do, so I already received a decent salary at the age of 20.
My retirement fund will give me €31,921 a year if I decide to retire at 65. If I decide to work until I’m 67 my retirement fund will give me €41,180. Hence, this is pre taxes. I do not save for retirement with the side business in the sense that I store this with a retirement fund. I mean, I’m no loony! I’m investing that directly into index funds. But of course, that doesn’t give you any guarantees for the future. Well…neither does this government retirement fund, right?!
So, the second number is rather comforting. It does mean that I will have been slaving away for 47 years…yikes! And again…by the time I reach that the official retirement age will probably be 70+ which means I’ll have slaved away for 50+ years. Oh, and then it’s finally time to travel the world and do the things you love…right?!
I’m off now…working on the side business. The hubby and I are working on this cool app…which hopefully will turn out to be a short cut to FI and early retirement!