Originally Posted by GQgeek
My mother is totally screwed like this except she really doesn't have any savings. I look at my parents and how they used to live compared to how they live now, and think to myself that I will never let myself be in the same position. It's hard changing behavior though... Basically, I want to continue the same standard of living when i retire as I have now. I want to eat out at a nice place every couple of weeks. I want to be able to drink wine and buy good food. I want to take the same vacations. I just want to be able to enjoy myself and not worry about working. Also, there are so many more worthwhile pursuits than working imo. Just because you retire at 55 doesn't mean you have to sit in front of the TV all day. There are so many books I don't have time to read and so many things I don't have time to do right now that I'd love to do when i retire. I'm aiming to save 20% of net and think it's doable.
I think they ends up being extremely expensive, since you have much much more free time to spend shopping. It's hard to judge the move your parents have made. At least they knew enough to change their lifestyle instead of just going broke and becoming a burden to others, I respect that choice. I think I'll probably continue a hobby when I retire, woodworking or metal working. It consumes alot of hours and is not that expensive (even though it can be). Saving 20% of your net would be pretty impressive, it's hard to imagine you wouldnt be wealthy at that rate, considering you're in your late 20's early 30's now.