My mom is real estate agent and she did not plan for retirement properly and now she is trying to catch up with a self employed "defined benefit plan" - basically a self employed pension. It's caused her a lot of grief and I have told her not to worry since she has a lot of equity in her house to use.
The ironic thing is that is that she is the one that taught me about investing early and the power of compounding interest.
My mom is terrible with money and is upside down on her house. It's a mess. She owes everyone, everywhere. It is what it is. And what it is, is my problem. I just posting this not a plea for help, but as a "please think of others if you're not thinking of putting a fair bit away." I had hoped to retire a little early myself. At this point, I'll probably have to work until I'm 75. Fortunately I'm in a career that is more age-friendly than most and I've owned my own practice for a while, so I'm set up for the long haul. Considering someone else's lack of retirement plans doesn't factor into most people's planning--it should. You got a dead-beat brother or a kid that can't seem to hold a job? That might suck up way more of your resources than you'd planned on. It wouldn't be a long trip to homelessness for my mom. I just can't let that happen. I don't judge others for their choices. Mine is going to cost me, and my husband. It's a strain on our relationship.