Reply to Saving for retirement when you don't plan to retire?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Why so snarky? Most people don't save *enough* for their old age. You have no idea what kind of health you'll be in, or your spouse, or your children. Some people are forced to take time off from working to care for a child or other relative. Many people plan to work for a lot longer than they actually are able to. Cancer, injury, disability, disease can all make it impossible to carry on working. Then what?

I've known a LOT of old people, some indigent and some wealthy, some completely with it, and some completely demented. NOBODY has said, wow, I wish I had saved less for retirement, and there are many, many who wish they had planned better. Having money at the end is a big, big help.[/quote]

OP here. The snarky messages don't belong to me.

I understand making sure I'll be able to afford health care. I believe in great insurance and have savings to take care of medical issues. It seems like so many talk about retirement as a goal and save for it as though it is their lifelong dream but if you aren't planning to need money beyond healthcare and incidentals, why continue saving money? It may be entire naive but I think its worth discussing.[/quote]

Stopping saving when you have $2 mil is a lot different than not saving for retirement.  Everyone needs money to live one when you are not working.  Many people have to stop working at some point unless they die prematurely or are one of the lucky few who can work into their 80's.  Everyone else needs money.

My MIL was healthy and fit her whole life.  At age 84 she was still volunteering, walking each day for exercise, living in her own home and driving.  At age 85 she had a stroke and started to be forgetful.  A few months later she had another stroke and we moved her into assisted living.  One month after that she had a major stroke that almost cost her her life. But she survived and is now living in a nursing home hooked up to a feeding tube.  Thankfully, she had money saved for assisted living.  And thankful even more that she had long-term care insurance. We could have never predicted one year ago this vivacious, active woman would be dependent on others for her care.  Her mother lived to age 93 in her own home until she died.  One never knows.[/quote]

This story sounds familiar...this has happened to a friend of mine.  (if it is the friend, I am trying to get the family to to head down to visit you).

In my case, I am saving, not for myself, for for my family.  I do not expect to live until retirement age...a combination of Cancer and heart disease makes that unlikely --but DW will need money, and DD needs college education.  And I can't buy life insurance anymore (cancer and heard disease).

And not saving is betting on death...I would rather retire at 65 than die at 51[/quote]

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