It's not about assuming that your 60's are better than your 20's. It's assuming that having 7 dollars inflation adjusted tomorrow is worth not having 1 dollar today. Clearly, the higher your savings rate the sooner you can retire but the lower that multiple becomes.

More importantly when something bad happens you both have a cushion and a cheap lifestyle so it can last.

I'm sure we all agree that saving is both prudent and desirable. My comment is in response to the idea that you should be saving most of your money.

A good-sized retirement isn't just for fun. It's to work against inflation and maintain financial security / independence, it's to prepare for potential catastrophes, and it's also to prepare for your declining years.

Actuarial tables show if you make it to age 40 you have a very high likelihood of making it to 80 or 90. Statistics show that the last decade of your life - thanks to health care needs or assisted living necessities - is often more expensive than any other decade of your life.

That's absolutely important to plan for in your 20's and 30's when you have the time (and energy) to make a difference.

And at the same time, saving nothing in your 20s and 30s. Having all the fun in the world, and then expecting the government to take care of you when you are old is also a very serious mindset problem.

Luckily, I didn't suggest that.