Yes, we plan to work till 65 or even to 75 if health permits. However, we wonder whether we should be working for so long. We know of someone who passed away at 58, he could not enjoy the millions he had for retirement. All his money squandered by the kids, they wasted his hard earned money on wasteful things and activities. Heart pain if he is still alive.
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Originally Posted by Unregistered
There you go.
Have you thought about working till 65? or even 67? The longer you work, the more you can save.
I think for most couples, the period from 55 - 65 is really the best period to accumulate savings, I called that the golden period. Because by 55, their children would have entered the workforce.
This would mean there is no more $ to be set aside for the children's education. On top of that, the children could be giving them allowance. Also by that time, their housing loan would have been paid up.
For our case, I projected that if we could work from 55 - 65, we could amass another $2.5 to $3m over the 10 yrs. An enticing thought indeed.
It is no wonder I see grey hair people still buying condos.
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