I would like to reach a point, at a relatively decent age, say 50-55, where I can say – Yup, I’m done. That way, I could have the option to keep working like crazy so I can have excess funds to blow on travel, cars, boats, etc. -or- cut back to a more relaxed pace -or- take a job in the non-profit sector -or- take time off to write a book -or- just plain retire young.

It’s all about having as many options as possible, being prepared for the unforseeable, and being able to finally take a deep breath and relax about the whole issue.

Is it possible? Well, to be honest – yes. If you are saving so much for the long-term that you are suffering in the short-term, then you are saving too much! If you’re living a lavish life and barely preparing, you’re not saving enough!

It’s a delicate balance – it’s going to be different for everyone – not everyone’s situation will be the same (kids, medical expenses, pets, lifestyle, desire to keep working or stay out of the work force).

@THC – not everyone thinks they want to work at 70 after retiring at 50, but are you anywhere near that age to say that you wouldn’t? I’ve met a few older guys that are wanting to work again just to do something more than be retired.

Thus they need to save a lot more. Someone in the 35-45 bracket might have a pension but not as secure, so the benefits can be cut.

The idea is that comparing today’s retirees with someone 40 years from retirement is not right. Especially since things like SS may be revamped, it could become needs based, or the fact that pensions are vanishing fast.

My in-laws are models of frugality and saving (except when it comes to spoiling grandkids). On occaission (after a couple of “beverages”) my FIL has commented to me that they have “more money than he knows what to do with” and “don’t need to touch the principal” – his words. FYI, if you’re thinking inheritance for me, think again, my bet is that either they really will need it as they age, or that it’s all going skip down to the grandkids (the lucky little devils).

Does he have any regrets about saving too much? I think there might be one or two things. I think he would have liked to have traveled further and wider back when he was physically fit. But, that’s the only thing I’ve ever heard him say along those lines. Otherwise, I really don’t think he would have traded his rock solid financial security for anything they don’t already have.

So, as my role model, that’s who I’m taking my cue from. I plan to live it up a bit more in my middle-years in terms of travel and city-life, but still sock away as much as I can bear, and then sort it our later if it turns out to be “too much”.

It really is pretty sad that the press has latched onto this latest silly headline.

I would love to meet the 45-year old millionaire who is sending his kids to college that is complaining that he’s saved to much. It’s just silly.

I mean who is this article directed at? The baby boomers with very little saved? Or the younger generations with NOTHING saved? WHO?

If any of us posting today, come to a point where we are 50+ years of age and have $60K to our names, we are in for a long, long road of working. Which leads me to my next question, who hires 70+ year olds these days? At 73-years of age and $10,000 to your name, we will be sucking the system dry and will be taking public transportation to Wal-Mart to greet folks for 6-hours a day.

This is something we do not have to deal with if we, as a nation, save money.