First things first: Notice this chapter’s title. R minus 15 doesn’t mean you are necessarily 50 years old. You could be 50 and have plans to retire when you are 65. However, you might want to retire at age 60, which would mean R–15 for you is age 45, or if you’re planning to retire at 70, R–15 would be age 55.
The key point about all this? As we have said throughout, when it comes to retirement planning, what’s important is not how old you are today; it’s how long you have until you want to stop working.
That can depend on your current situation. For example, let’s consider four representative scenarios, all of which we will deal with later in the chapter:
• Bob and Heather had been diligent their entire married life, saving for ...