Reply #5: Some of them are eating up their retirement savings. [View All]

[MrUnderhill]

If you're planning well for retirement throughout your career, you're going to have a significant chunk of change in savings by the time you hit your 50s.

If you lose your job at that point... you COULD go several years with no employment and not end up on the street (or even selling/losing your house). But the effects are still devastating. You might be ten years away from retirement, but four years being out of work will cost you WAY more than four extra years of working in order to retire. You might not actually be able to retire at all.