Retiring at 50: Could You Follow This Woman's Extreme Savings Plan?
Here's the story of Marlene Konkoly, who found creative ways to spend less and save more so she can retire at 50. This story is the first in our series about Extreme Savers.
Americans may be living longer, but our retirement plans aren’t keeping up. Which means people are living longer with smaller bank accounts. But Marlene Konkoly will retire at age 50. How did she do it? She contributes a whopping 45 percent of the gross annual income she earns as a procurement officer for an automotive finance company to her retirement—all while owning a home and remaining debt-free. Konkoly is actually well ahead of the retirement savings curve compared to many of her fellow Americans. According to the U.S. Department of Labor, fewer than half of Americans even know how much money they would need to retire. And nearly a third of employees who had access to a defined contribution plan such as a 401(k) did not participate …
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Barney
11:08 am on Thursday, December 27, 2012
So why don't you move to Plainfield? You would surely make a profit on selling your LW area house for a much larger home in Plainfield. And guess what? The teacher pay there is far below LW teacher pay. How great is that? Yeah, their PSAE & AP scores are atrocious, but who cares. Teachers are greedy and school would be much better if privatized. more ›