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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Why are people here obsessed about saving for retirement? 
I do save for the future but not aggressively. I do not max my 401k. 
I am not concerned about retirement because I plan to work well into my 70s possibly 80s if still alive.

Retirement is for blue collar workers and poor people. These blue collar jobs are often unpleasant, they take a toll on the body and require a 
physical fitness that workers no longer have as they age. It makes perfect sense to call it quit and retire.

White collar don't often face the same situation. They even get wiser and better with age. Why retire if you love what you are doing?

Most successful people I know are not thinking about retiring. You find a lot of old men and women at the top of the business, corporate and 
political pyramid in our society. They are still working.

I know my perspective might be unique here. I'm a research scientist. Maybe I'm a crazy scientist? [/quote]

I am also a research scientist.  I enjoy what I do.  The pace can be frantic at times.  And I absolutely plan to retire.  Why?  Well, right now, the work I do -- the research -- is geared to what others want/need.  It is very applied.  I am taking my science and building algorithms that with work within the customers constraints.  That is what I have to do to get paid.  I would like to do some more basic research (6.1 or 6.2 instead of 6.4 in terms of DoD funding guidelines).  But, I know I can not get paid what I am making to do that.

I am currently 55 and have just over 1 mil in my 401K.  I am looking to work to at least when my child finishes college, in 6 years.  I figure I should have closer to 2 mil; my house will be paid for and worth close to 800K.  Sell it, move to an area where I can continue working (central Florida) at a lower level of effort (and lower salary) to cover expenses while transitioning to retirement.  Full retirement will begin when Medicare is available.[/quote]

You’ll have to be putting away at lest $75k/year (which is over the 401k limit) and hope for at least 6% per year to go from 1 million to 2 million in 6 years.  Last year was great but I’m negative YTD so 6% is pretty optimistic [/quote]

Historically, the market doubles about every 8 to 9  years.  I am over a million now.  [/quote]

Economist here. I would say there is close to zero chance of the market doubling in the next 8 to 9 years...[/quote]

+1  I think the market has an excellent chance of doubling in the next 8-9 years..... but only after it halves itself first  ;)[/quote]

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