[tinapbeana]

i liked the part at the very end the best:

I suspect I'm one of the dupes who's saving too much for retirement. For years, I've followed a "rule of dumb" -- putting away 10 to 15 percent of my income annually. My goal is to replace 80 percent of my current income in retirement, excluding home equity and Social Security. (I'm dubious about the program's long-term sustainability.)


I may need less than 80 percent of my current income, since many of my costs will disappear in retirement: school tuition, college savings, the kids' extracurricular activities, the mortgage (and I won't need to save for retirement anymore).


But I err on the side of caution, because saving for retirement squeezes out luxuries -- a second car, better vacations -- rather than necessities. Economists should turn their research into more accurate models for people who could use additional funds today to stay out of credit card debt, or pay for education and other staples of life.