Comments on: I Stopped Saving for Retirement

By: Monday Link Love | Save Green and Live Green!

Monday Link Love | Save Green and Live Green! — Mon, 06 Jul 2009 23:16:41 +0000

[...] week, my post I Stopped Saving for Retirement was included in the Money Hacks Carnival and the Festival of [...]

By: Money Hacks Carnival #71 - Canada Day Edition | The Canadian Finance Blog

Money Hacks Carnival #71 - Canada Day Edition | The Canadian Finance Blog — Wed, 01 Jul 2009 07:07:38 +0000

[...] Money presents I Stopped Saving for Retirement posted at The Ultimate Money [...]

By: Mrs Money

Mrs Money — Tue, 30 Jun 2009 00:31:28 +0000

@ Miss M- It’s going to be interesting to have this conversation with her in 10 years, that’s for sure!

@ Petunia- That totally made me LOL!

By: Petunia

Petunia — Mon, 29 Jun 2009 17:11:17 +0000

It sounds like a rationalization to me. She doesn’t want to save, therefore, the world will end soon and saving is just a waste of money. Best of luck to her.

By: Miss M

Miss M — Sat, 27 Jun 2009 22:38:42 +0000

She will likely grow out of it, most 20-somethings have a devil may care attitude. It starts to change in your 30′s when you start realizing that you do want to retire some day and while the world will end eventually, it’s probably not in our lifetime. Then you look back and get mad that you didn’t save in your 20′s because now you’d be so much farther ahead. We all have to learn somehow.

By: Mrs Money

Mrs Money — Fri, 26 Jun 2009 23:07:30 +0000

@traineeinvestor- It makes me sad. I think that my biggest concern is that she truly believes that the world is going to be ending soon, so why plan for anything? I think she’s reading too much into the global warming/climate change. I’m going to try to talk her into putting something away for retirement.

@Karen- I am so sorry to hear about your illness. I know many people don’t save for retirement because they think they can’t afford to, but the thing is, she can afford to, she just thinks there won’t be a world left for her when she’s retired due to climate change and global warming. It’s kind of crazy.

@Kacie- Yeah, she’s a little out there. I think she’s friends with Al Gore.

By: Kacie

Kacie — Fri, 26 Jun 2009 17:19:23 +0000

WHAT THE FRICKIN FRICK!? That’s all I’ve got.

By: Karen

Karen — Fri, 26 Jun 2009 13:59:20 +0000

OMGosh! I had that same attitude back in my 20′s too. I didn’t make much money and could barely get by so why save for retirement? I could be dead by then so who cares. Looking back I wish I woiuld have set aside even a small amount out of each paycheck. $5.00, $10.00, anything would have been better than nothing! I am now in my 40′s and a lot has happened. The biggest thing is my health. I’m not very well, and now I have nothing to fall back on. NOTHING! All I can say is I hope your friend has some sort of “wake-up” call SOON, before it’s too late. Fortunately, I have been able to get some help financially, and so far have avoided having to live on the streets, but everyday, I worry. My illness isn’t serious, but has temporarily kept me from working. I could live another 20, 30, or 40 years. Now all I can think of, is how am I going to support myself?

By: traineeinvestor

traineeinvestor — Fri, 26 Jun 2009 11:16:10 +0000

I’d also be worried for yourself – she is exactly the sort of person who will want taxpayers to pay more to fund the retirement that she couldn’t be bothered paying for herself. In effect she is deciding that other people will pay for her failure to save.