There are many legitimate reasons to avoid saving for retirement, and there are many of them. Some of them may be your own. There are numerous reasons, though, why delaying retirement savings would make it more expensive for you in the long run.
You probably don't mind spending as much time as you can with your kids, if you have any. The decision to do so should, however, be your own. Most people don't want to spend their retirement years living with their children because they can't afford to live alone.
Consider the effects it might have on your kids if you have to rely on them, in addition to the fact that you don't want to give up your current way of life. As a result of having to help you financially, they can miss out on financial opportunities of their own and experience increased pressure on their own family.
According to its design, approximately 40% of the average wage earner's income is replaced by Social Security benefits after retirement. Your retirement income should not be based only on Social Security. You'll still need to come up with around 60% of the money you'll need to comfortably support yourself after retiring, even with Social Security.
Saving for your own retirement gives you the freedom to design the retirement you want. It could be necessary to make lifestyle adjustments to put aside more money today.
The likelihood that you will live the lifestyle you choose in the future will increase if you save of retirement now.
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