Reply to If you max out your retirement, what is your income?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Saving for retirement is so overrated.  No one ever wants to question conventional wisdom.

You have a lot of say in your retirement.  Move somewhere cheaper and control costs.  You can even retire abroad andive like a king for a fraction of the cost.

1 out of 2 men, and 1 out of 3 women will get cancer in their lifetimes.  Congrats, you were diligent saving your entire life.....now it is all wiped out with a single bad health issue and now you're poor again.  Imagine if you spent a little more in your youth to enjoy the fruits of your labor rather than sock away like a pack rat only to get wiped out in old age.  Who wants to be a rich corpse or have wealth buy only by the time you're able to crap in a diaper?

Also, there are soooo many people going to hit with a shocking dose of reality in old age when it comes to long term healthcare costs.  Many of you are going to develop Alzheimer's, parkinson's, or age related dementia. Guess what? Medicare does not cover costs for long-term health care and nursing homes.  They are absurdly expensive....something like $100-200k per year.  Long term health insurance also get absolutely unaffordable as you age, so it isn't even a viable option for most people. You know how people afford long term care?  Their kids have to sell off all of their parents assets until they are worth $0.  Then the govt will come in pay via Medicaid.

Congrats, you saved for years, could have enjoyed life more, now you're an old fart with Alzheimer's and a 7 figure retirement account that's getting drained in 4 years to pay for long term health or has to be sold off to zero do your kids can afford care for you.

So overrated.[/quote]

Not if you have a high paying job.  If you do, you can have your cake and eat it too.  I’m the poster above who retired in my early 50s.  I worked in big law.  I made plenty of money, lived well my below my means (not hard in big law) provided well for the fam, all the while maxing retirement, and retired early with several million in the bank.  I didn’t have to move abroad to retire and I have plenty to cover long term care out of pocket.

Just make sure you have good medical insurance is all.  [/quote]

Well, duh.   Now let's get back to reality with taking a perspective relative to the median income of people in the US.[/quote]

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