Chapter 11Maybe You Want to Retire Later

When people, especially those now in their 40s to mid-50s, start to get serious about retirement planning, they are always shocked and dismayed. This occurs for two reasons.

First, they simply haven’t saved enough money. They realize that the $50,000 they have saved by age 50—and that, as we saw in Chapter 2, “You Are Not Alone: Just About Everyone Is Unprepared to Retire the Way They Want,” is unfortunately a representative number—won’t go very far after they stop working. Even if they have managed to save substantially more, the bear market we experienced in 2008 reduced whatever money they had in their 401(k)s, 403(b)s, SEPs, Keoghs, and IRAs by a dramatic amount.

The second reason they get depressed ...

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