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Posted
4 hours ago, Fudge Nuggets said:

My parents always worried about having sufficient retirement savings even though they did fine financially.  A few months after my dad passed away I asked my mom if she was doing ok.  She said when she takes the required minimum distribution from their 401k, she winds up sending almost the entire amount back to her financial advisor. 

The dad of a guy I work with got caught up in a layoff about 10 years ago and had a real tough time finding another job so he said screw it, I'm done.  He said he's making as much if not more in retirement off his investments and wished he had pulled the plug years earlier.

Guess that's a good thing for you and her other heirs if she basically withdraws low amounts from a net standpoint. I find it sad though that someone perhaps sacrificed along the way, and does very little with those savings. Who knows, maybe peace of mind is worth it to some.

I'm not a YOLO person at all but now in my mid-50s there are experiences or purchases that I wouldn't do now that I might have in my 20s. I would have to guess that the same will occur when I'm in my 70s and looking back on my mid-50s. Nothing wrong with living life now, if you can.

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