I talked to a man last night who is of retirement age. He mentioned that he makes less than $25,000 a year. My first thought was, "Wouldn't it be nice if he had a little more money to have at his disposal in his twilight years?", but then realized that there are very few things that one truly needs to live a fulfilling life.
The person making $100,000 a year in their 60's may have a nicer bedroom set and a kick-ass TV, but I would think that, at that age, the most precious resource is time. Time to just put one's feet up, relax, maybe have a Cristal. Many of us spend a lot of time thinking of ways to maximize the amount of money we have saved for retirement, but regardless, we all have our social security money to fall back on, not to mention medicare for our health needs (U.S. residents only).
In our pre-retirement days, we seek to save as much as we can, but once we hit 65 or 67, do we still keep it up? Do we assume that we're going to make it to 85? There are many who pass mere months after they retire. How much do we want to risk leaving on the table? You gotta feel for the rich folks. There's something's wrong with a person dying with more than a million dollars to their name. They either forgot that you can't take it with you or thought they were gonna live forever.