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Originally Posted by Devils'Advocate
So I guess my question is - why do people have their expenses go DOWN after retirement? Like I said, I would think people would be going on MORE vacations; MORE entertainment outings; etc.
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It's generally not possible to have a higher retirement income than working income. I think the financial industry is doing us a big disservice by painting a far rossier retirement picture at most of their advertisement.
If you can't afford Europe in your working years, you can't afford Europe after you retire and have no money coming in. Most seniors do watch TVs 16 hours a day and I bet their TVs aren't the latest 60" think bezel Samsung.
I've learned not to treat retirement as a lottery ticket and think it'll solve all your financial and life problems. If anything, retirement will only make those problems worse for majority of the people.
That's not to say most of us will suffer, but I certainly won't put my life on hold waiting for retirement to come. If there's something you want to do, do it now instead of later is usually the good way to go.