Extreme Saving

wombat42_2

Another thing is that many people have quite a happy working life but when they retire they often have almost nothing and have a misrable existance. You could switch it around and have a slightly less happy working life but happier retirement.

debbie42

wombat42 wrote: »

Another thing is that many people have quite a happy working life but when they retire they often have almost nothing and have a misrable existance. You could switch it around and have a slightly less happy working life but happier retirement.

...Or you could have a happy working life and a happy retirement...or you could have a miserable life saving madly then die before you ever got there.

I'd rather have a happy balance, according to my means!

wombat42_2

debbie42 wrote: »

...Or you could have a happy working life and a happy retirement...or you could have a miserable life saving madly then die before you ever got there.

I'd rather have a happy balance, according to my means!

Well yes everyone would select the " happy working life and a happy retirement..." option but it would depend on having quite a lot of money and having a fair amount of money in reserve for a nice retirement. The reality is different, many retire into poverty and often debt.

I think the "live for today" attitude is very common, especially amongst those under about 30 - and typically they may blow much of any spare dosh in clubbing or binge drinking. When you are younger you dont have much perspective or concern into the future and you feel invincible. As you get older you tend to acquire the ability to supress "instant gratification" and be able to make short term sacrifices for long term gain.

Believe me, you need much money than you think for a comfortable retirement.

chesky369

Well, I've had a pretty good time during my working life (with a few ups and downs) and I'm retiring in a fortnight's time, so I'll let you all know if it's unremittingly dreadful. However, I think there's a lot to be said for enjoying yourself whilst you don't need a zimmer frame.

debbie42

wombat42 wrote: »

Believe me, you need much money than you think for a comfortable retirement.

This thread started by talking about extreme saving cf. extreme spending. All I'm trying to say is that for most people there can be a happy medium somewhere in between.

Aegis

I'm not thinking too much about retirement yet, but I do have 8% of my salary (5% contributed by my employer) going into a pension fund. That might not be much at the moment, but with some decent growth my pension will be pretty decent when I get to retirement age. Add to that the fact that I try to put away a little into ISAs and equities every now and then, and I'm going to be even better off.

It's not going to take extreme measures for me to enjoy both my working life and my retirement!

matt4504

I think i'm saving like that at the moment, it's kinda boring but then I dont really know what i'd buy with it anyway other than some crap I don't need so I figure I might aswell try and make some interest out of it whilst my brain is confused ay...?