You still want to use tax-advantaged savings options. Just makes sense, even if you plan to work till you die.

Anonymous wrote:Ah, a cash-based life! Well, why didn't you say so earlier?

Since you pay for things with cash, there is definitely no need to save for retirement.

I didn't say I wasn't saving for retirement. I have plenty of savings but feel odd about stacking up money so I can stop working. I save for emergencies but I'm not doing it with the goal of retiring

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm dying to know how old OP is and what you do for a living. Please don't keep us hanging!!!

OP here. 30 year old entrepreneur. I live a cashed based life and have no debt.

Drug dealer?

Of course. Everyone knows drug dealers love hanging out at DCUM

Ah, a cash-based life! Well, why didn't you say so earlier?

Since you pay for things with cash, there is definitely no need to save for retirement.

Anonymous wrote:

Anonymous wrote:I'm dying to know how old OP is and what you do for a living. Please don't keep us hanging!!!

OP here. 30 year old entrepreneur. I live a cashed based life and have no debt.

Drug dealer?

Anonymous wrote:I'm dying to know how old OP is and what you do for a living. Please don't keep us hanging!!!

OP here. 30 year old entrepreneur. I live a cashed based life and have no debt.

I'm dying to know how old OP is and what you do for a living. Please don't keep us hanging!!!

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What do you mean you don't plan to retire? Are you just going to die at 65?

In what world does a person have to either die or stop working at 65?

It means I plan on working until I'm dead or close to it.

You might not have a choice. If you become sick or develop dementia etc, you won't be able to do your job and will need long term care. Alzheimer's patients can live a long time with decreased mental capacity. It's really sad.

My FIL is 88 and does not remember his own name much less his wife's whom he's been married to for the past 60+ yrs. Luckily he can afford the 20k month assisted living facility he and his wife are living at. It's very nice but still an old age home.

You don't want to be old and poor and have to go to a medicare paid for facility - not the kind of place to live out your golden yrs.

What about when you are too old and sick to work? My 91 yo grandmother couldn't work if she wanted to,

Anonymous wrote:You sound like my mil. She thinks she has some direct deal with god where she'll just drop dead when she runs out of money. Whacky.

Plan to save anyway or deal with denial, bankruptcy, desperation and death in that order.

Anonymous wrote:

Anonymous wrote:What do you mean you don't plan to retire? Are you just going to die at 65?

In what world does a person have to either die or stop working at 65?

It means I plan on working until I'm dead or close to it.

You might not have a choice. If you become sick or develop dementia etc, you won't be able to do your job and will need long term care. Alzheimer's patients can live a long time with decreased mental capacity. It's really sad.

OP how old are you? You don't seem to have a realistic understanding about old age.

I do not know how old you are, or what you do. But I will tell you...things slow down as you age. I can fell a difference now (50) vs 45 event. My brain is as sharp as ever, but the body hurts. And, I am 50....my industry (defense R & D) is dying. I may not have a choice about working....

At 50, many places will not hire me...they want someone younger....cheaper.

It is Naive to think you will be able to work till death. Me? If I lose my job, we sell the house, move to a low cost of living area, and we can live forever on the 1 million we have saved.

My FIL never planned to retire. He is 85, currently sitting in his dark office (electricity has been cut off) in his soiled underwear waiting for clients.

Good luck with that.

You are incredibly naive, OP.