Amount needed vs Amount wanted for retirement

poseidon1

artyboy said:

Ah, this thread again. Well, someone I once knew posted here so I'll add my 2c.

...which is that if I NEED 2c for retirement, I'm going to do my damndest to ensure I actually HAVE $2 - yes some would say I've been fortunate in life, but it's self-made and a big part of the reason for the rat race slog is that I don't want to have to eke out a subsistence lifestyle in my 60s (heating a tin of value beans over a candle etc etc).

So far, so good. Hopefully there's not a gargantuan market crash around the corner 

With you 110%!

The whole idea of retirement based  on 'needs' rather than 'wants' seemed entirely depressing especially  since needs rather than wants was pretty much the foundation of my working life.

Certainly, for me retirement is now about those indulgences I previously denied myself or were far to busy to explore whilst climbing the greasy career pole.

Therefore, building wealth and sustainable income sources based solely on what I thought I would need later in life made no sense. No one has a crystal ball about inflation and how that can eat away at a purely subsistence life style.  Building a nice fat buffer,  seemed entirely logical to me. 

Means I can heat my tin of HP bake beans on the halogen hob with impunity  ( no value lines for me thankyou!).