No one is going to go broke saving money and the more you save the better your financial position will become over time. The 64-thousand-dollar question is then one’s focus on ‘time’. If you are prepared to wait an awfully long time, or you are starting early and want to wait a very long time, you might get to a financial position you are happy with to retire.
Or if you want to live very frugally both during your savings years and then when you retire, this too might result in a technical definition of a retirement achieved just through savings, but the two variables that will be greatly affected by this approach are – how long will it take and how much you can live off when you do retire?
For most of us, we want the choice to be able to retire sooner rather than later in life, and again for most of us, we want to have a standard of living that is commensurate with the standard of living we enjoyed whilst working. This brings us to SavingSPEED™ and the levels of indicators and gauges which make up this result.
