Retirement, any takers?

[kazukirai]

A middle class earner husband and wife earning 10-15kpa might seem a lot, but after deducting various expenses, might find it a trying task even to save up a few hundred K. The money just flows out each time the pay check comes in. And most of them need to EXCHANGE THEIR TIME TO WORK FOR MONEY. People who are in this situation would know what I am talking.

You hit the nail on the head. As to Uncle Temper's thread title, I think retirement is a horrible concept- most people who've retired usually find that they fill the new-found hours with something else. It could be gardening, keeping healthy by walking or some other form of exercise or even gaining some form of employment or getting involved in charity work.

Those who are slogging away and haven't retired usually think of retirement as a phase of life where they stop working, sit back, relax and do things they enjoy. I think these people have no idea what they really want. Those who eventually get to this stage will find that they don't live very long or very well.

Therefore, I think the word 'financial freedom' is more apt. That is the freedom to spend your time as you wish without having to worry that there is not enough $$ to meet existing and future commitments.