Why are people obsessed with putting $$ in retirement?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How old are you OP? How long have you been working?

I'm guessing a millenial with no sense of forward thinking.

Seriously? Anyone who claims financial ignorance on millennial is out of touch with reality. My parents generation screwed our economy and our government. Congratulations on sounding like an idiot and an asshole.

This is such an easy way out for you, isn't it?

I have been working for 25 years and guess what - the people at my company starting today make more than twice what I did. Their apartment also costs about twice what I paid and they have about the same percentage of debt (I didn't live in a luxury building or in a fantastic area of town) but they are all getting along just fine.


The problem is that the average millennial has a lot more wants than we did when we graduated. It certainly never occurred to me to blame my parents' generation for my problems.

Grow up.

College was dirt cheap for you. Learn some math.

College was much, much harder too

And who’s fault is that? Which generation was teaching and administrating colleges when classes started to become ridiculous. Who created remedial college classes? It seems ridiculous to blame millennials for taking easy college classes when that is all that is offered.

It takes two to tango. Boomers by and large went to college to increase their chances of getting into a good career, millennials by and large go to college to avoid working/growing up

[Anonymous]

Anonymous wrote:We ran the numbers. My DH is several years older than I am. He will retire in his early 60's. He wants me to retire when he retires, so I will not even be 60 when I retire.

We won't qualify for medicare since we are not retirement age. Medical costs are the biggest factor when thinking about early retirement, imo.

We want to save about $2.5mil by the time we retire so that we can live a really comfortable life, travel internationally once or twice a year. Plus we have kids, and we want to fund their college.

We do travel now with kids, but we want to do a lot more when they are older.

So we are frugal now, and save save save. I don't want to worry about money when I'm retired before I hit 60.

$2.5 Million doesn't sound like nearly enough to fund a retirement for 30+ years. We are in our early 60's, have nearly $4.0 million, a paid off house (not a mini-mansion but in a desirable suburb), all kids launched, and it's not enough to be comfortable that we could afford health care on our own for several years and be sure we don't outlive our money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We ran the numbers. My DH is several years older than I am. He will retire in his early 60's. He wants me to retire when he retires, so I will not even be 60 when I retire.

We won't qualify for medicare since we are not retirement age. Medical costs are the biggest factor when thinking about early retirement, imo.

We want to save about $2.5mil by the time we retire so that we can live a really comfortable life, travel internationally once or twice a year. Plus we have kids, and we want to fund their college.

We do travel now with kids, but we want to do a lot more when they are older.

So we are frugal now, and save save save. I don't want to worry about money when I'm retired before I hit 60.

$2.5 Million doesn't sound like nearly enough to fund a retirement for 30+ years. We are in our early 60's, have nearly $4.0 million, a paid off house (not a mini-mansion but in a desirable suburb), all kids launched, and it's not enough to be comfortable that we could afford health care on our own for several years and be sure we don't outlive our money.

Please. What do you need to spend annually with no debt and covering maximum 4 years private pay healthcare until you qualify for Medicare?
4mil is very sufficient for an early 60s couple to retire unless spending is truly extravagant.