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Life: How Much Will You Leave On The Table?

Sunday, April 8, 2012 - 7:04 PM
How would you like to double your retirement spending?

Well, Michael Finke is working on just that. He thinks we may be able to live better in retirement than most professionals have thought for nearly two decades.
ShorebreakShorebreak2,676 posts since
Apr 6, 2010
Rep Points: 14,530
1. Sunday, April 8, 2012 - 10:37 PM
That was a thought-provoking article. 

There are circumstances in which no amount of money can buy more comfort (ex.: someone living with chronic pain), or one might be cognitively past caring.  Therefore, in retrospect having increased the rate of spending earlier in life to create great memories would have been a good decision in that situation, but those can not be anticipated. 

Having an assured lifetime "floor" income from Social Security, pensions and annuities could, as the article suggests, make the decision to increase one's savings withdrawal rate easier, but caution would still be appropriate.  Years ago, employees counted on funding retirement through a combination of Social Security, pensions and personal savings.  However, many employers no longer offer pensions, and we are constantly barraged with bleak predictions of Social Security running out of money within x years.  It's enough to make anyone nervous.   

Older, likely in declining health, and out of money is not an appealing scenario in today's world and will be even less tolerable in years to come.   

pearlbrownpearlbrown1,473 posts since
Nov 2, 2010
Rep Points: 6,404