[quote=earlyretirement]
The sad thing is I don’t think people are getting this “wake up call”. Everyone keeping hitting the “snooze” button and wants to sleep in. It’s not going to be pretty.[/quote]
I agree – I talk to coworkers who are in their 40’s/50’s who feel good because they invest “just enough” to get the company match. It will be hard to retire if you only save 6% of your income.
All have the same answer – “I don’t plan to retire… I’ll just keep working”.
Apparently they are also oblivious to the trend of laying off older workers in favor of hiring fresh grads, contractors, and H1B types…. assuming the job/department isn’t offshored.
They all drive newer cars, eat lunch out every day, and haven’t pinched a penny in their life. If their plans work out – they’ll be working in their late 60’s or early 70’s. I save like crazy, pinch pennies, brown bag, drive older paid for cars… And hope to retire in less than 5 years. Sooner if the market continues on a tear like it has this year. (Not counting on that.)