Reply to Working well into your 70s because you can’t afford to retire.

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Social Security should be three times what it is today.  [/quote]

FWIW, my opinion is that private saving for retirement is challenging on many levels.  Capacity to save, discipline to save, and acumen to manage retirement savings.  There are many very successful people who have a very difficult time doing this.

From an actuarial perspective, it's exceptionally hard to do with an n of 1, or 2 for married couple.[/quote]
Why is it so hard to save? I made an average salary my entire career, always lived below my means, and saved 10% - 15% of my income. Sure, I didn't go out to eat as frequently as my friends, book expensive hotels for vacations to Hawaii like they did, buy timeshares, buy the top trim model of cars, stretch big-time to buy property (or even a second home), buy expensive designer brand purses and clothes.

Today, those same friends are 60ish and tell me they can't stop working for the foreseeable future. I am younger (slightly) and can retire at any time.

[/quote]

Did you raise kids?[/quote]

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