Why do people want to save for retirement?

[disneysteve]

Another thought occurred to me a short time ago as we were sitting and chatting with my cousins who popped in for a surprise visit (they live over 3 hours away). My one cousin kind of got forced into retirement (for business reasons, not health) last year at the age of 49. Had she and her husband not been aggressive savers, having to close her office would have necessitated her going out and finding a new job and starting over again, something she really had no desire to do at this point in her life. Instead, she is now volunteering at her daughter's school, serving on the board of a non-profit organization and doing various other things that she never had time for when working.

Another example is another of my cousins who will be retiring this May. He turned 55 last month. After he retires, he and a friend are taking a 2-week cruise in Italy. When he returns, he will be putting his house on the market and, once it sells, buying a house in Florida and moving there. He has 2 antique show cars and is looking forward to a year-round car show locale, unlike here where the season only runs April through October or so. He has been saving for years to make that a reality and now it is finally here.

So not everyone retires at 65. Some, mainly those who do save well, are able to leave the working world behind much sooner.

[Snodog]

That article was probably written before congress just passed the current bill, and my understanding is this is the one (and only) portion of bill which makes sense- allow early retirees earlier access to healthcare.

I know for us it is the last piece of the early retirement puzzle coming together and probably moved up our exit date a few years. Without it health insurance would've cost an "arm and a leg"- if I could even get it since I have a pre-existing condition.

[fe2o3ez]

Nothing I would sooner buy than free-time, nothing else is even close.

'nough said.