Quote:
Originally Posted by onewhippedpuppy
Sure, you can simply "enjoy the ride", but eventually you have to come back to reality.
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Agreed, but let's define this a bit more. What is reality? Well, its different for different people, and probably depends on what your needs will be when you retire and need to start drawing from your stash.
Speaking for myself, I've chosen to spend my money (within reason), rather than horde it. So, what's that done for me? At the age of 52 (I think that's how old I am), I have very, very few things left to do in life. I've pretty much done everything there is to do, and seen everything there is to see, within reason. I have a few things left: skydive jet jump, go to space, have a good relationship with my future grandchildren. That's really about it.
So, what's my retirement going to cost? I truly hope that I will be happy to putter around my collection of bikes in my 2,000 sq ft man cave for half the year, and spend the other half at our beach shack. To summarize: not much. I think we could live just fine on $2,500 a month. I have plenty of investments, cash, assets, so hopefully that won't happen, but if it does, life will be fine.
I still can't figure out how most people in America are going to retire. A buddy of mine have this conversation all the time. We've figured out that most people end up doing nothing with their lives, aside from hopefully having a satisfying family life.