1) Age 67 is US retirement age if you want full social security. My father in law just turned 67 and will retire next month. He plays racquetball regularly, walks the dogs frequently, gardens all day long -- hardly old and decrepit. He's been my financial hero, driving cars into the ground, still living in what many consider to be a "starter" home, not always buying the latest and greatest. He'll have a great retirement. He told me that he's been so good about saving that his income after retirement will actually be MORE than it was before retirement. THAT'S the way to do it. He and my mother in law already have trips planned, stuff they want to do, etc. Hardly old and decrepit.
2) My financial example is just the result of ONE spending decision. Make a more frugal choice on other spending decisions too, and not only WILL you be able to retire at age 62 or 65 or 67, but maybe you will be able to retire at all. I work with a few guys in their 50s who have never saved any money and who all say they will never be able to retire. DAMN! They'll we working when they are 75 years old and maybe even longer while at that age I would have been retired for 15 years! I'll take my way thank you. Just takes saving a modest amount over a long period of time to build that cash reserve. Own two pairs of nice shoes instead of 4, buy the $13,000 car instead of the $28,000 car, buy the $150,000 house instead of the $300,000, save money each month by not eating out frequently, not having cable television, get the slowest internet connection you can stand, and only get something if you really really want it. Problem with many people is that they just get a high out of spending -- no matter if they really want the thing or not. Any person with even a modest income if they start saving 10% or more right out of college, they can have several million dollars ready for retirement when they are old enough to retire. If you are a college-educated person with a job based on that education, and can't get by on 85-90% of what you make, then something's wrong.
3) A woman wanting a huge expensive ring will also want a huge expensive house and expensive cars, expensive clothes, and on and on. Those things don't bring happiness to everyone. I spend my money on vacations (because I do need to have SOME fun) instead of wasting it on car payments, car insurance for expensive cars, etc. I still drive a 1995 Saturn SL1 that I bought new 12 years ago. Plan to at least get 3 more years out of it, and maybe even more. Insurance for it is dirt cheap, it gets great gas mileage and it has only needed a couple of repairs ever. the millionair next door exists -- but not if he's married to a money-spending wife.