LookOut, did you mean to say that if you love your job, you won’t mind working until you die?
This video points out that you need to save 18-20% of your income, or obtain 8x your salary in your account, to be able to retire at age 65 and live the average 17 years. The EBRI manager said that Americans ages 60-65 have only 4 years of expenses in their accounts, and then they will subsist on Social Security. There is going to be a huge disappointment as old folks, who counted on the cash in their homes, wakes up the realization that they should have garnered their savings the old fashioned way: by delaying consumption and actually saving.
I felt bad for the retiree who lost more than half his savings in the 2000-2001 stock market crash. This is one of the reasons I am so interested in my financial security, and want to share what I learn with others. My heart goes out to that man, but it’s too late to help him. It’s not too late for me, and for you all on this forum, to learn from his mistakes.
