Scratch any financial advisor, asking how much a person should save for retirement, and the answer is always “MORE”.  That is more than a flip response.

Scratch most prospective retirees, asking how much of their income that they will need in retirement, and the answer is usually 70% of current income.  That is more than wrong – it is dangerously wrong.  One recent study shows a retiree actually needs more income, a lot more, 130% in fact.  Normally, workers don’t spend much money at work, but they will have more time in retirement to spend even more.  Beware:  The next egg supporting 130% of current income is vastly larger than the nest egg supporting only 70%.

So, the financial advisors are right – save MORE!

Like most people, financial advisors avoid the questioning of sacred beliefs.  Instead, we should ask WHY retire?  What religion tells workers to stop working?