While I enjoy working (most the time), I like most look forward to a less regulated life with more travel, i.e. retirement. I want to of course do this living in a style I am accustomed to and still provide for my family as needed. So how much money is that going to take?

In many ways we are in troubled times. We are in a war that is in someways endless, whether we pull out of Iraq or not. The value of the dollar is sinking and has the potential for a long term swoon if not crash. Gold, a refuge for those that lose faith in the monetary systems recently hit $700. If you dont believe the dollar is sinking, see how your money spends in Europe for example. Not so good, of course at least we are still liked in the rest of the world (not)! Meanwhile consumable expenses like gas and food on the whole are a heck of a lot more expensive. Housing is getting cheaper in some ways (not selling, foreclosures) unless you already own a home.

So how do you know how much money to save before you can retire? I know there are plenty of companies that will give you some formula for this but really what are they basing it on? Continued 5% interest annuities? Please! What the heck does that do if the dollar is worthless or if oil doubles or triples in the next couple of years. And dont get me started on healthcare. There is a booming industry out there called Medical Tourism that more Americans are getting familiar with. It used to be about plastic surgery but now its about getting heart bypasses and such, in foreign countries where the fees for the entire procedures are less then our insurance deductibles. Many of our parents got pensions and even retirement health benefits. These are rare today. As a baby-boomer can I really even count on social security providing benefits when I retire? Well all this sounds pretty bleak but thats what I think about when I contemplate future retirement.

In reality I don't think anyone can predict what the cost of living will be 5 years from now, let alone 10 or 20 years. Providing you have enough money put away and invest well your probably ok. But that's a big if, unless you can rise above the many pitfalls that seem to be ahead of us. So, I think I am going to keep working for awhile and see what happens.