An interesting, though troublesome read on retirement saving.
My bias out of the way first. I've always read, and been told, to save. So admittedly the concept of NOT saving for retirement is very strange and unsettling for me
That said, not saving, at least as far as this article goes, seems half-baked. (I withdraw that comment if there is a part 2 coming).
If you don't have any money saved for retirement (and don't plan on working)...a few items spring to mind:
1. Housing expenses? Whether it's taxes for a house you already own or on-going rent if you don't own a house.
2. I assume in retirement one continues to eat?
3. Travel? I'm not even talking about vacations yet, I just mean getting around town will require a car (cost of car, insurance, gas) or public transport.
4. Vacation? Now that you have more time, you can take that month long vacation instead of the 1 week trip, but with no money...you probably won't get far.
5. Medical? I'm not retired, so I honestly don't know how much medicare does or doesn't cover, but it seems like you'd want to plan for a bit of medical care for your later years?
6. If you have to go to an assisted living home, I don't think they operate for free? Nor do they offer scholarships as far as I'm aware.
I'm sure there are more items but these were what sprang to mind. On most topics I try read and gather as much info from as many points of view as possible so I'm not just consuming things that further bolster my own bias but this article didn't address even the simplest of issues. *shrug*http://www.cutimes.com/2015/03/02/lets-die-broke