Reply to Does everyone on DCUM max out retirement?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I don’t max out. Retirement is for blue collar workers. I don’t plan to retire. Rich people don’t retire, they continue work.
I save money for things that I need but not for retirement.[/quote]

This is interesting.  I'm not a blue collar worker and I can't wait until I have enough money to retire.  I'm 47 and hoping to be done by 57. But you point made me think of a few people. So there are financial advisors on TV like Suzy Orman or more locally Ric Edelman on WMAL on the weekends...why the hell don't they retire.  Same with Mike Collins who is a estate planning attorney on WMAL on the weekends that does free seminars.  He's older than dirt and probably have more money that all of us.  Why doesn't he retire.  I see all sort of old ass people in my office building, etc.  I don't understand why they are still working.  Why don't rich people retire?[/quote]

Exactly. Warren Buffett is 88 yo and he is still working. Our president is 72 and still working. Many members of congress are over 70 and don’t want to retire.
The poor and the middle class are the ones who are obsessed about retiring from work. [/quote]

Ahhh....Buffett, Trump, and most all members of congress are loaded with $$$.  They work because they WANT TO not because they HAVE TO.  There are no financial hooks in their backs.   It is very different when once can work for fun, keep busy, or stay mentally and physically alert, than to keep food on the table be able to take care of one's health.     [/quote]

That’s why I said that retirement is for poor and middle class workers.[/quote]

And you think an UMC lawyer = Buffett and Trump??[/quote]

[b]No but I think a good UMC lawyer should have built enough wealth and an ability to continue to generate income when he/she is old.[/b]
If they are worrying about maxing out retirement, then they are just simple worker bees like most poor and middle class folks.

[/quote]

LOL.  You’re funny.  Unless you make partner at a big name firm, most dual income attorney families are making 500-700k which goes almost entirely to a mortgage on a nice but nothing crazy house, private schools, nanny, UMC lifestyle etc.  They are rarely creating such significant wealth that they don’t have to concern themselves with a 401k!  [/quote]

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