Originally Posted by Witold
Got a source for this?
No, just that
A) I was surprised I got an answer so I assumed that it was true ..
B) the simplest actuarial numbers are required to fund a retirement program ..
C) I watched a lot of people retire from the company.
In general, retirement is a nebulous goal that comes way late in ones life and I found that most folk really hadn't given it much thought. The change is as life altering as changing careers at an advanced age. Many are leery of the reduction of income, most had no 'real' plans for occupying their time, and on top of that you give up the sense of self-worth that goes with a job well done.
It is just my personnal experience, but most who retired had waited as long as possible
to do so, or for health reasons. As the computer guru I talked with everyone
in the plant - high paid managers to regular Joe Blows - and very few looked at retirement as a "promotion".
So it doesn't really matter whether my story was true or just allegory. Retired or not, you still have to allocate your time and you will still say you don't have enough money. So you'd just as well start practicing for it in your 20's.