Reply to Does everyone on DCUM max out retirement?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]White collar employees planning on working forever are in for a rude awakening.  A layoff or firing after 47 or so is probably the end for your career, and especially if you're used to making a lot of money.  Plan for the worst; hope for the best.[/quote]

True true true. For myself, my husband, many cousins, friends, neighbors. People don't easily talk about this but dig a little deeper and you will see. We went from 300k to $200k and now both looking - DH is 50 and I am 46. Yeah.[/quote]

I think the impact of this is vastly underestimated on this board but I suspect a lot of that has to do with these boards skewing younger.  Go to a place like Bogleheads and there are plenty of stories of folks being underemployed in their 50s or forced into early retirement because they can't find another job.[/quote]

+1.  I think it’s crazy that folks on here are assuming they are so special and unique that they don’t need to be concerned with retirement.  There are plenty of high powered lawyers who have ended up with a much earlier retirement than expected.  I know of one close family member who ended up filing BANKRUPTCY.  I understand someone in the medical profession like a doctor assuming they will work much longer than the average professional.  But lawyers, policy makers, sales, etc?  Just because you make 500-750k now does not mean you won’t ever need to retire.

There is also another important reason to save for retirement - it’s usually protected from legal actions.

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