The concept of retirement planning is to ensure that when you’re not working, and the flow of money coming in slows or stops entirely, your life doesn’t stop as well. Many focus on reducing, or even eliminating, the financial risk that might threaten their retirement portfolio. And while safeguarding your end of life nest egg is a laudable goal; it can be a bit too much of a good thing. Over saving, living so frugally that you might as well not even have money, can be just as bad as not planning at all for your golden years. Financial planners advise finding a balance, rather than an extreme.

“Only 20 per cent of 65-year old Canadians will live for 30 years — and that means their money will far outlive them.”

Read more: https://business.financialpost.com/personal-finance/retirement/why-saving-too-much-for-retirement-is-just-as-risky-as-saving-too-little