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When it comes to money decisions, it can be hard to figure out the right thing to do. Money is about power, emotion, morality, and security, among other things. So in this space, we gather personal finance luminaries to weigh in on a financial quandary.

This week’s question: Can you save too much for retirement?



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David Ning, founder of MoneyNing.com: People should save as much as they can, as early as they can for retirement, because what the savings really mean is a better future. The reality is that no one will know what the future holds. You may lose a job, you may have to take a pay cut, or you may need a sum to start a business. On the other hand, you may not ever need more money. In fact, you might be making more and more money that you didn’t need to save. But the beauty of saving more is that you can easily increase your standard of living to use up some of the savings you’ve earmarked for retirement. When you save more, you are better insured against catastrophe and if you don’t need to use the insurance, the money is still yours to spend.