A few simple rules everyone should be doing: Don't spend more than you earn, save or invest the difference, avoid debt.
True, albeit this does not need to be followed religiously after, for example, 60-65 (if you stopped working).
I am trying to figure out what to do
afterwards.
Options:
1. Divide whatever I would have by then by, say, a factor of 30 and proceed to spend it. Not much would be there by 90 (if life continues until then, no life ending event (LEE)).
2. Continue as if I had the same salary, and spend that much. Nothing much would change, which kind of defeats the purpose.
3. Go crazy, buy something spectacular (RE in a premier location), enjoy myself for, say, 5-10 years, then retreat to a simpler lifestyle (after 70-75, if no LEE occurs).
4. #3, then bequest the rest to relatives and/or causes. Not sure if for me it would be a right thing (personal reasons aka- younger generation of mine).
Right now, #3 is in the lead.