Is 34 years a long enough time span to save for retirement?

Of course is it a long span to save for retirement. Some people do not start until they are within their 40s. You have approx. 31yrs to save for your retirement Before you do anything, open yourself a Roth IRA. You can never go wrong with investing and saving for your future. You still could be a millionaire before you reach your retirement age so get started with the Roth IRA account by contacting T-Rowe Price or Fidelity. Yesterday is History, Tomorrow is a mystery, its all about what you do in the moment. You can get started today. It is suggested that you pick the Roth IRA target year fund set for the age 65

https://individual.troweprice.com/public%E2%80%A6

https://www.fidelity.com/

Here is a link to play with the numbers to see what you could have by time you retire

http://www.daveramsey.com/article/investing-calcul...

Take Care

It's probably enough to let you retire with a lifestyle close to the lifestyle you have while working. A few important things to remember are: (1) invest your savings in a diversified portfolio that gradually gets less risky as you grow older (the fund you're in is a reasonable choice in this regard); (2) pay off your mortgage, school debt and all other significant debts by the time you retire; (3) avoid borrowing from your 401(k); (4) understand that saving for expenses like college educations for any kids you have will require additional saving beyond the 15% level, and (5) be lucky enough to avoid major financial hits like a serious illness or disability, or a costly divorce. Doing what you have in mind is tougher than it may appear, but if you succeed, you'll probably be pretty happy with the result.

The answer is "yes" because no matter how much or how little you save, you will have to adjust your spending in retirement so it is commensurate with how much you saved. The variables you mention are the whole key to whether it is a luxurious retirement or a spartan one, so they matter a lot.

But in general, someone who saves 15% of their income for 34 years should not have to eat cat food during retirement.

Probably... but the real key to being able to retire in 34 years is living below your means during that time. You'd be establishing a pattern of behavior that would make the transition to retirement very easy

How much more time do you need????? That should be more then enough time to get yourself set up for retirement. Consider going to a financial planner to see what options you have. Don't wait 34 years to get the information you want. Many banks offer it free, call & ask.

p.s. Pat yourself on the back for thinking about it now.

No it took us 35 yrs putting away 30% of income and investing aggessively to accumulate enough to maintain our lifestyle. We have no mortgages, no debt and live below our means. Between inflation and fluctuation in market we have managed not to invade the principle. Our system was based on living to age 90.

You may want to view the table at www.fidelity.com for how much you should be saving based on your age to achieve a replacement rate of 85 percent and total sum of 8 times your final year's salary. Aon Hewitt recommends 11 times final salary.

Yup.

Some even spend many less years than that.