Free Ebook.


« Happy New Year | Main | Five Signs You Retired Too Early »

January 08, 2018

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

I think the situation may be worse-- many of those who retire at 70 will have to accept a lower standard of living than they enjoyed before they retired. The propensity to overspend likely won't diminish as one approaches retirement age, my guess is that a lifetime habit becomes ingrained, so a step down is baked in for most.

Very few Americans are willing to execute on the very high rates of saving that are needed to reach their retirement number in their 40s or 50s. Those who do can safely ignore Suze's advice. But even retiring at age 70 is no cake-walk for most, it also requires considerable preparation, and I think Suze's advice seems reasonable here.

One quibble I have is that the word "savings" isn't in her article at all! I would elaborate on that one line "But for many of you who've done a great job planning, part-time work may be all that you need." and spell out that if you can manage at least a moderate sustained savings rate, the work income you'd need in your 60s would be commensurately reduced.

I work in engineering and it's by no means certain that I will be able to work in my field in my 60s.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Your Information

(Name is required. Email address will not be displayed with the comment.)

Enter your email address:

Delivered by FeedBurner

Disclaimer


  • Any information shared on Free Money Finance does not constitute financial advice. The Website is intended to provide general information only and does not attempt to give you advice that relates to your specific circumstances. You are advised to discuss your specific requirements with an independent financial adviser. Per FTC guidelines, this website may be compensated by companies mentioned through advertising, affiliate programs or otherwise. All posts are © 2005-2012, Free Money Finance.

Stats