Why do people spend their entire lives planning for retirement that may last only a few years?

Public Comments

1. they want to retire without any worries about income
2. Because no one wants to live miserably, even if it is only a few years. Today, social security pays squat. Therefore, we all have to find other ways to support ourselves when that fateful, bliss full day we call retirement arrives!
3. Because if there's no light at the end of the tunnel, you might as well just give up.
4. Because there is always the possibility that it will last for many years.
5. coz that is the age where you can't earn and you tend to spend more and to be relaxed on that time you need more money than now
6. because after their job is over their childrens may not look after them or they may not have intrest to live under their childrens money .so they go on planning for the future. saving money is not a waste na..
7. Because it may last for a few years- in which you won't have to worry about money. Or it can last many years- in which case you don't want to have to worry about money. Are you suggesting people just expect the social security system (which is probably not going to exist by the time some of us retire) to take care of them? That's what the current generations of seniors are doing and it's getting them nowhere but on the streets very fast.
8. I agree with you. I do have some money in retirement accounts but I don't spend a lot of time thinking about them. You need to take care of the now. You also need to have a security blanket for the future. Tomorrow is inevitable. I disagree with the "experts" who say you need tons of dough to retire. You really don't. They always talk about living solely on the interest of your assets and never touching the principle. What the hell for? So your heirs can get it? One of the best quotes I've ever heard on the matter was "I've never seen a Brinks truck in a funeral procession." I invest a lot but most of it is in taxable stuff that I can get any time I want. My retirement money is there for when I can't work any more and it also serves as a bit of insurance in case I run into rough times before then. And I intend to go through it without guilt when the time comes. But I live in the now and I intend to live in the now when I'm old too.