TakeAway | ‘We live a rather lavish lifestyle’: My wife and I are 33, live in New York City, and earn $270,000. Can we retire at 55?

A letter writer on his travel and dining out: “I justify it because we’re saving $50,000-plus a year toward retirement and have zero bad debt.” GETTY IMAGES/ISTOCKPHOTO

Retirement is the withdrawal from one's position or occupation or from one's active working life.  A person may also semi-retire by reducing work hours or workload.

Now that you have an idea of what this write-up is about, check this out: A couple seeks answers for a retirement plan by writing to Quentin Fottrell, a MarketWatch's Managing Editor-Personal Finance and The Moneyist columnist.

‘We live a rather lavish lifestyle: My wife and I are 33, live in New York City, and earn $270,000. Can we retire at 55? We travel a lot, eat at nice restaurants and essentially buy what we want’

Courtesy, MarketWatch, read the letter below and follow up with Quentin’s response, certainly, you would learn something from it.

Dear Quentin,

My wife and I, both 33, are lucky enough to have high-paying jobs in New York City. 

Collectively, we make $270,000 a year.  We own a home in Seattle, worth $500,000, that is rented out and covers the mortgage and cash flow. We have zero debt outside of our mortgage. We have an emergency fund of $45,000. We rent our house in Brooklyn. Collectively, we max out our 401(k)s, and I receive a pension of $8,500 a year, so we’re saving approximately $53,000 a year toward retirement. 

We have about $75,000 in our retirement accounts from our work in Seattle. We have no kids and likely don’t plan on having any. We’d like to retire at 50 to 55. My question is: Are we saving enough? We live a rather lavish lifestyle. We travel a lot, eat at nice restaurants and essentially buy what we want. I justify it because we’re saving $50,000-plus a year toward retirement and have zero bad debt.

TakeAway | SHOULD YOU ADD A BANANA TO YOUR SMOOTHIES?

Banana Smoothie

New research now reveals why you shouldn’t add a banana to your smoothies. Disappointed? Please, don’t be.

A smoothie is a beverage made by puréeing ingredients in a blender, according to Wikipedia. A smoothie commonly has a liquid base, such as fruit juice or milk, yogurt, or ice cream. Other ingredients may be added, including fruits, vegetables, non-dairy milk, crushed ice, whey powder, or nutritional supplements.

On the other hand, a banana is an elongated, edible fruit – botanically a berry – produced by several kinds of large herbaceous flowering plants in the genus Musa. In some countries, bananas used for cooking may be called "plantains", distinguishing them from dessert bananas. The fruit is variable in size, color, and firmness, but is usually elongated and curved, with soft flesh rich in starch covered with a rind, which may be green, yellow, red, purple, or brown when ripe.

DATE-LINE BLUES | DEMO

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CATCH-UP

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FLAUNT YOUR LEISURE

Leisure is highly therapeutic to the human psychic and well-being. Aside from many not creating personal schedules or moments for relaxation, some persons have been saddled with leisure as a necessary routine for mankind. Yet we have some others who are living in ignorance about the essence and various ways of self-relaxation.

WAITING | It’s so funny a thing, this my poor little life. I still find it hard to believe she’s madly in love with me - THOMAS

ROSIE

Mother, please let’s drop this subject. Please …

MOTHER

Drop this subject, you say? Listen, Rosie, it surprises me that you still don’t realize how much pain your attitude is inflicting on your father and I. What is it with you? Your father disowned you hoping that would make you change your mind about Thomas Thomas. But ‘to hell with a father’ you said. And the poor man came back confused and apologetic. Now look at yourself – God! You’re growing fast overdue for marriage, Rosie. People bother me each passing day … such an embarrassment, I never could have the guts to tell any of them that Rosaline, my only daughter is engaged to a drunkard … “drop the subject”, you still say?  

Click here to get the full update on WAITING at this time.

WARD9ice | WAITING

Update coming soon!  

CATCH-UP | ENVIRONMENT TODAY

CATCH-UP at this time focuses on ENVIRONMENT TODAY, a weekly magazine programme regularly broadcast on Africa Independent Television (AIT), produced and anchored by ace broadcast journalist, Nkoli Omhoudu whom we ran into a while back to package this interview below:

DATE-LINE BLUES | BACK ON TRACK

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FEEL MY PULSE 070823

One of the ways of loving your wife is to "call her when you're going to be late".

Do you agree?

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