Elizabeth Ayoola

So if I had to choose between the 80% or the $1,000 rule, because we know money has a lot to do with psychology and values and personality types.

So which is better for whom?

I might have been steered also because I do not at the moment use a portfolio manager.

I just use these benchmarks and a calculator to determine how much I need to save for retirement.

And what you're saying, James, really resonates in terms of I love the idea of having different simulations and being able to see different outcomes based on all these different factors.

So I might need to book an appointment with a financial planner.

Yes.

We're here for you.

Something else to think about is how the experience and expectations of retirement are changing.

Now, according to a recent report from T. Rowe Price, 37% of U.S.

respondents expect to work part-time during retirement.

That is definitely not me.

I assume this is because the amount people save for their retirement and what they're getting from Social Security simply won't be enough to cover their expenses.

So James, how does the expectation of working in retirement change the amount people should plan to save in their working years and then live on in retirement?

It reminds me of a listener who came on at some point last year and they said that they weren't saving for retirement yet because they don't plan on retiring if they can have it their way.

So how should people then approach saving if they go, well, I think I want to be working till I'm 90?

One thing that I'm thinking about right now is the people on the other side of the 80% rule who are not thinking about an AI apocalypse and not wanting to save, who are saving too much or maybe overthinking and stressed and worried and always thinking they don't have enough for retirement.

What advice do you have for them?

I feel like you're telling me that I should clear out all the things in my shopping cart right now.

That's what I feel like you're saying.