Am I saving too much for retirement?

[greenskeeper]

Originally Posted by sternchen

i believe there is no such thing as saving too much

you can never save too much

if you can save 1M dollars a month, do it

you'll be happy when you grow ole

yes but you need to have it allocated in different ways for when you need access to the savings.

I think in the new world we are in since 2006, 5% return after inflation is about the best you can hope for. But thats my own opinion and have made changes in my savings to reflect that.

[snafu]

While everyone seems to focus on retirement $$$, I've observed other significant factors. Do you have a plan for retirement? In 2 or 3 decades, what age will you retire? Will you be retired for 35 + years? Will the government change the rules?

I happen to live in an older condo complex and would guess 50% of our neighbors are seniors. I saw a pattern from my parent's and their contemporaries. Anecdotally...it was very important to have the mortgage paid off and only need to pay living expenses. Most important of all was a healthy lifestyle. 1st year was house upgrade and travel. Year 2 was doing stuff they liked. By year 5 seniors seem to be selling their home and moving to a condo or assisted living depending on health factors.

Around here most have retired between 55 - 60 y/o. By year 5 they are taking classes, doing volunteer work or running their own small business. They don't say it but it seems they were bored unless there was a specific, retirement plan. My adjoining neighbor & DH participate in every senior golf tournament they can find from November to April. They seem to have visited every golf course in the USA, Mexico, Central Am and Asia. This year they've spent the summer golfing and are looking for part-time work. They have defined pensions but need a purpose.

By year ten, often one spouse has passed on. I've been to too many funerals of such nice people lately.