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with an 80k salary, that is only 480k saved. Unless you want to live in destitute poverty in your senior years or expect to have wealthy children supporting you, then this is a requirement. Consider that we retire at 65 yet life expectancy is 80- can you live in comfort off for those decades?
Depends. If house paid off and don’t drive much it’s doable. Most old people spend a lot less.
Each year you should save 10-20% take home in mixed investments. You should put 10% of that into something high risk high yield if it works.