Hedge:Well put.The bottom line is this: Plan, based on YOUR personal needs and available resources. Boomers today (and younger people) do have the opportunity to sock away a LOT more money than we ever did in tax-free savings! I recall the limit being $2500/year per worker or $4,000/year per family -- and that was 10 years ago or less.When retirement loomed for us, we had statements from Social Security showing specifically what we would be receiving, depending on our chosen age to start collecting benefits. I then sat down with those numbers, looked at our own IRA's and added in whatever else we might expect to have when we retire (not much); looked over our debts and ongoing payments; and calculated what we'd need to get by. I did my best to make adjustments and then we worked to pay off our debts and position ourselves to be able to make it on the expected reduced income.That was 6 years ago. We "retired" back then because I was laid off in my late 50's and she had to leave her professional job to care for her mom. I had to work for a few years doing what I knew how to do as a consultant, and we both started collecting SS at 62. We do okay, but still have to withdraw from my IRA (saving hers for backup) occasionally for BIG or special things -- like prepaying the coming year's heating oil now to ensure a good price all winter. If need be, I'll go out and work some more, but I can foresee no need to do that.People do need to pay more attention to their retirement plans and less time running around peeing away money on every foolish new toy thrust at them by the folks selling them.Vermonter
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