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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I also wonder about people that save a ton of money for retirement.  For example, my dad made an offhand remark one day that they have a few million saved and will probably never use all that money.  Hell I wish they'd spend more of it and make up for lost time, they deserve it.

I agree it's important to save some amount of money (for argument's sake let's say an amount that would let you [b]draw $35-40K per year [/b]in addition to your SS payments).  That lets you take a few modest trips and live a comfortable life but not extravagant (this plan also assumes you'll have paid off your mortgage or will sell and move to a lower COL area so housing expense is minimal).

Obviously there's a margin of error here too and you want to err a little on the side of caution[b] but I can't see socking away tons of money [/b]for retirement.  By the time you're old and need nursing home care your quality of life kinda sucks already so why not use more of the money when you can actually enjoy it. [/quote]

"Tons" of money is required in order to withdraw $35-40K per year! Agree or not?
Plus in another 20 years it'll actually be $50K you'll need to reap that same benefit, due to inflation.  So how much will we need then?[/quote]

If you want to take $40k/yr from savings you'd best have --at minimum --- $1 million+ in liquid investments (just a rule of thumb re 4% annual draw etc.).[/quote]

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