text: When an individual delays retirement saving , that individual enjoys the additional consumption in the early years and then personally bears the burden of saving larger amounts later , working longer , or accepting a lower standard of living in retirement .
  
  ###
  
  By saving money for retirement now , the smart worker knows they will forgo immediate gratification in exchange for not having to work for a longer span of time and being able to maintain a decent standard of living when they are old .