How Much is Enough to Retire On?

Social Security will be enough -- if one is an astute financial manager; if one isn't, no amount of money will be enough.

The value of accumulating tremendous assets, is the skill and experience one develops doing so -- and not the money, as many who have made a fortune and lost it also, learn. They're far richer for the experience of having made that fortune, even if they lost it in a change of fortunes -- that will happen from time to time, throughout a long and eventful life.

That's why these people who come into an unexpected windfall, frequently lose it just as quickly -- because they haven't acquired the skills and experience over time -- in facing many different conditions. That is also why whenever one does come into a windfall, one should take the full amount of it over as long a period as possible -- rather than the much lesser lump sum, which they will proceed to lose quickly because they have no skill and experience at money management.

This is true even if one doesn't accumulate $4 million for retirement; in fact, they would have even more exceptional skill if they could increase their net worth by only one cent a day -- reliably every day, because I don't think even Warren Buffett has that track record. And if one is always increasing one's wealth at any pace, one is in actuality always getting richer -- and that is their skill and experience.

People who are really sharp at money management will always make the most of whatever they have to work with -- while the countless money management fools will always complain that they don't have enough -- no matter how much they have. So when a person says, they live well on only Social Security, not only is it believable, but it is much more impressive of a person who will do well no matter what, while the countless motley fools will raise the bar ever higher to the amount required before they feel they have enough -- but they will always be fools to whom no amount of money will ever be enough, and so they will always be trying to sell their scams in these financial forums.