No. of Recommendations: 1
Some portion of the people who say they plan to work to 70 will find that their plans go better than expected, and they can retire sooner.

That'd be great. But in my experience, failing to plan results in a worse-than-hoped-for outcome more often than a better-than-hoped-for outcome.

At the beginning of my career, I had no idea how things would turn out, or even how to figure out stuff like that. I presumed that I would want more money rather than less, and made sure to sock away the maximum ($2000) in an IRA, and some years my wife did the same when she got a job. Then, I realized how stupid it was to forego 65% matching money on 10% of contributions into the 401k, I got over the fear that it would all disappear if I left the company, and I put in a decent amount. *Then* when I finally figured out the basics of how investments and retirement all work, I had something to work with. Because my company jettisoned its pension when I was 25 years in, I'm REALLY glad I didn't count on their beneficence with my own investments as "gravy."
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement