Reply to Why are people obsessed with putting $$ in retirement?

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Reply to "Why are people obsessed with putting $$ in retirement?"

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[quote=Anonymous][quote=Anonymous]OP here. My point is that people obsess over retirement and don't enjoy their hard earned money while they are young. I understand putting away money for retirement, but just not most of it. Saving can make a person miserable. [/quote]

OP, I think you're missing the planning part of retirement savings. The way to properly plan is to figure out your intended retirement age and how much you should have at that point to live the lifestyle you want and account for unexpected events (e.g., major medical crisis that still costs you a lot out of pocket after Medicare). Once you have that figure, you can figure out how much you need to invest each year (assuming a realistic rate of return) to get there. Then you know how much you need to save in order to retire the way you want. If that's a number you're comfortable putting away each paycheck/month/year, you're set. If it's more than you want to save, either you need to cut back on your lifestyle expectations today or you need to cut back your lifestyle expectations for retirement. [/quote]

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