Reply to How much do people have saved for retirement?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I always feel that DCUM oversaves

I don't get why people need over 100k in retirement.  For most people SS almost gets you halfway there.  And SS isn't going away, the age might go up and benefits might slightly decrease but most people should be expecting at least 2500 a month if they are working

Main point being 1-3 million retirement account fund at age 60-65 is plenty.

Some realistic benchmarks 1 million at 55

500k at 45

250k at 35

[/quote]

Because I like to take at least one ski trip out west each year.  Because I plan on spending a month in Europe every year.  Because I live cooking nice dishes and eating out at good restaurants.  Because I plan to have a seasonal home.  Because I want to enjoy myself, after busting my ass working.

For me, the point of retirement isn't simply to stop working; it's to enjoy myself and do the things that I couldn't do because I was working.  Many of those things cost money.  I am 48, with a NW of $2.5m, and theoretically could stop working now.  It wouldn't be dying, but it would sure feel like it.  [/quote]

This.  We are late 40’s with similar net worth in addition to getting some passive income on real estate investments currently.  Prob retire in 7-10 years.

I also happen to like my job and can work 1 day a week as needed to keep my skills during retirement when we are not traveling.  But yes, we also plan to spend maybe 3 months abroad every year exploring other places while keeping a home base in the states.  Currently vacationing 2 weeks abroad is nothing like being able to live and immerse yourself in another country/culture.[/quote]

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