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January 08, 2018


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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.

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