More Retirement Confusion

[mickeyd]

Another story about folks that have no idea what to do in order to have enough in the coffee can in order to retire. No mention about LBYM. It must still be our little secret.

Quote:

So much about retirement planning today is marked by doubt: We don't know whether our savings will see us through old age. We don't know what might happen to Social Security and Medicare. We don't know whether we'll be able to continue to work for as long as we wish to (or need to). And so we fret — a lot. In its most recent "retirement confidence" survey, the Washington, D.C.-based Employee Benefit Research Institute found that 27 percent of workers are "not at all confident" about having sufficient funds to live comfortably in later life — the highest level of gloom in the study's 21-year history. At their worst, such anxieties can leave people paralyzed. Clark Randall, who heads Financial Enlightenment, a planning firm in Dallas, says he often sees this with his clients: "It's easy to focus on threats they can't control." And that's the point. If you're caught up in issues that are out of your hands — interest rates, changes in government programs, the markets — you're more likely to overlook those parts of retirement planning where you do have control.

The article never gets around to recommending LBYM, but comes close with this ~

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Projecting expenses and income can help you pin down your "number," the amount of money you need to save for retirement. You could be pleasantly surprised. "Many people who have been diligent about building a nest egg find they spend less on themselves than they realize,"

retirement-not-all-gamble-smartmoney: Personal Finance News from Yahoo! Finance