A surprising number of Americans are
retiring the idea of retirement
HotAir.com,
by
Andrew Malcolm
Original Article
Posted By: SurferLad,
8/29/2019 1:01:29 PM
Ah, those much-anticipated halcyon days of retirement — sleeping in, golf at will, travel too, leisurely day after leisurely day. No more whining colleagues, carping bosses, endless meetings with no result, tedious commutes. Of course, few retirements turn out that way. And now a new Associated Press poll finds that for a variety of reason about a quarter of Americans have no intention of ever retiring at all. That may turn out to be unrealistic too, given the vagaries of
Reply 1 - Posted by:
bad-hair 8/29/2019 1:30:28 PM (No. 165909)
Until they find a robot that can PLAY the piano better than me, I'm retired with marketable (if need be) skills. I guess we'll let the snowflakes who can't read history or anything else run things. That's what the government does after all. Wish ya luck kiddies.
6 people like this.
Reply 2 - Posted by:
F15 Gork 8/29/2019 1:34:12 PM (No. 165915)
I suspect a surprising number of Americans can’t afford to retire anymore....
18 people like this.
Reply 3 - Posted by:
TXknitter 8/29/2019 1:37:41 PM (No. 165920)
What did the experts (!) expect when many seniors are active, healthy and still have a lot to offer in the work world. If they try, by law, to mandate a 65 years retirement age, that best include the entire civil service work force.
6 people like this.
Reply 4 - Posted by:
skacmar 8/29/2019 1:41:07 PM (No. 165923)
I think that too many people retire and "lose their purpose" to live and don't know what to do with their time off. They get old fast and die. A lot of us like to work. It gives us a purpose to get up in the morning and a sense of accomplishment. I like to be busy. I can't picture myself in the traditional "retired" setting at home or going to the senior center or driving my kids nuts. I like working. Maybe I will work less, but I can't imaging sitting home all day, ever!
9 people like this.
#2, most Americans don't have $400 for an emergency, so how in the world do people think it's an automatic concept of retirement?
And, knowing many won't get very much from Social Security either, is not much better when expenses don't get reduced starting at 67(the full retirement benefit age for everyone born after 1960). In addition, many will end up taking early retirement at 62, thus, reducing the payments they'd receive at 67 by 30% - for LIFE.
3 people like this.
Reply 6 - Posted by:
LadyHen 8/29/2019 2:01:08 PM (No. 165943)
Yes #2. Many of us in our 40s who are raising kids while helping our struggling parents don't hold out much hope.
7 people like this.
Reply 7 - Posted by:
worried 8/29/2019 2:21:56 PM (No. 165951)
If one wishes to spend most of what he makes, with no provisions for the future, then what do they expect? Never mind that Maserati, get a Camry. It will get you there, and a lot cheaper. Invest the difference, and watch it grow. Never mind watching it, just let it do it's thing, You don't need to live in a palace; there are plenty of nice homes that won't break you. Too many are like the grasshopper, who want to laugh and play instead of looking to the future like the ant. And don't give me that cr*p about these are uncertain times. I started life during the depression, lived through WW2 years and nuclear threats during the Cold War. Got married and raised a family, built a house and did it on lower wages than people today get. And today I am retired, and although nowhere near rich monetarily, we still live a comfortable life.
12 people like this.
Live to work or work to live? Personal choice I suppose. I prefer the later. Mrs and me retired early when I left active duty. Did not want to be a DC suit. When needed, we are where our assistance is needed and can help those we love, and we are where we want to be when the urge to travel and to experience new and interesting things tickles our fancy.
One never knows when the reaper will come a calling. Each day is a gift, live life.
13 people like this.
Reply 9 - Posted by:
LC Chihuahua 8/29/2019 2:53:24 PM (No. 165965)
Retirement is harder to achieve than one thinks.
Do good in school. Get an education in something that will land you a good job that isn't being outsourced.
Work very hard. It might be rewarded.
Save your money. Your spouse, children, parents, and in-laws need to understand this.
Stay out of trouble. No drugs, alcohol or anything else that might get you arrested.
Don't go into debt. No overspending. Hopefully no big unplanned bills.
If you are lucky, you can retire. There are no guarantees.
6 people like this.
Reply 10 - Posted by:
snowoutlaw 8/29/2019 3:19:31 PM (No. 165980)
If you do not start to plan for retirement early it will never happen. Most never make the effort to plan and save, who's fault is it now that they can't retire?
4 people like this.
Reply 11 - Posted by:
chumley 8/29/2019 3:30:12 PM (No. 165992)
When 50% of your income goes to federal, state, local and county taxes, sales taxes, property taxes, gas taxes, phone taxes, tire taxes, school taxes, as well as fees and hidden government charges, and interest on investments is in the toilet, retirement seems a bit...distant.
6 people like this.
For those retired people enjoying retirement all I can say is good for you. But at 70 years old and having been laid off three months ago, I hate it. I have never been so bored. I’m interviewing for management positions at several companies and hope to land one soon. I’m in excellent health and have much to offer, I have no real hobbies other than reading, have lived and worked in multiple countries, have visited at least 20 countries and been to every state so traveling is no draw for me.
5 people like this.
Reply 13 - Posted by:
Sanddollar 8/29/2019 3:43:04 PM (No. 166000)
I left the work world two years ago and do not miss it. I volunteer for organizations that give my life meaning and I like to travel. I don't miss the work stress and the long commute in heavy traffic. We have a modest lifestyle but we have peace of mind.
8 people like this.
Reply 14 - Posted by:
davew 8/29/2019 3:57:40 PM (No. 166013)
After working virtually every year since I was 16 and retiring at 67 from a very rewarding career in defense and intelligence systems here's my take on what I like about retirement.
1. Every day is a weekend.
2. I never think tomorrow is Monday when going to sleep on Sunday anymore.
3. I can make my own schedule and do as much or as little as I want on any day and nobody can tell me differently.
4. Not commuting anywhere means not sitting in traffic any more.
5. The world is full of very interesting places to see for free if you have the time.
6. Time passes much faster when you are retired.
7. Daytime TV is worse than I ever dreamed. It should be shut down immediately to save the nation from intellectual decay. Thank God for the Golf Channel though.
8. If you like self directed learning you can find almost any course imaginable on YouTube and most are free. I love Leonard Susskind's Theoretical Minimum physics courses from Stanford U for example.
9. Walking, meditating, practicing musical instruments, and various house projects are as ambitious as I get anymore.
10. Each moment of life is a blessing.
16 people like this.
Reply 15 - Posted by:
earlybird 8/29/2019 3:59:20 PM (No. 166017)
My late Dad worked until he was 75. Ten years beyond his company’s mandatory retirement age. Drove miles on the freeway every day. Not a senile bone in his body. When he finally retired, it took a new department of three personnel to cover his job...
6 people like this.
Reply 16 - Posted by:
DVC 8/29/2019 4:52:37 PM (No. 166041)
Retirement depends on long term planning. I read somewhere that "the average American" had less than $50K saved for retirement by age 50. If that is the case, you are not going to live very comfortably in retirement, will have basically SS plus your output from your $50K, which will be about $3,000 per year if you have a 6% rate of return.
To have a $35,000 annual earnings from your investments, at 6% rate of return, you will need to have saved up $583K and have it invested for you at retirement. If you have $1 million invested at 6%, you can have $60,000 to spend each year without touching the million.
The biggest problem people have with retirement is spending all or nearly all their money during their earning years.
My wife and I lived 30% below our means, drove cars for 10 years or more, stayed in a smaller home and invested all that money for the long term. Our retirement is now quite comfortable. But I know many who had much nicer, more expensive cars and homes than we had for their working years who have saved very little for retirement. Life is all about choices. Choosing to not plan is a choice.
9 people like this.
Reply 17 - Posted by:
AltaD 8/29/2019 4:58:14 PM (No. 166042)
Retirement isn't an issue for us yet (we're in the age 67 for full retirement category) but some friends and family are eligible to retire but haven't for financial reasons. For some it's health insurance, great employer health insurance plans. For others it's because they're "helping out" their adult children and grandchildren, which is a polite way of saying their adult children are still taking advantage of mom and dad.
6 people like this.
Reply 18 - Posted by:
Dodge Boy 8/29/2019 5:01:25 PM (No. 166044)
I'm probably one of the last of the baby boomers to pull the plug from full-time employment. Net worth is really good, own two houses, some gold, and no debt. No plans to go back to the 9 to 5 grind.
5 people like this.
Reply 19 - Posted by:
Yuban 8/29/2019 6:27:40 PM (No. 166092)
Wife and I retired in 2001 in our early 50's. We are not wealthy. Never have been. Have family in Az and we visit them often in the Winter. Have family in the Bay Area and visit them often in summer time. No need for more than one house. Own a home on an acre next to the Klamath River. We enjoy our mountains, rivers, streams, meadows and small town life style. We have hobbies, hobbies and more hobbies to keep us alive and kicking. ( fishing, stained glass making, quilting, ham operator, gardening, wood working, PS4 fun, the list goes on and on). Married 50+ yrs (same wife), go to church weekly, .... we have no time for work. Life is good.
8 people like this.
Reply 20 - Posted by:
padiva 8/29/2019 9:48:05 PM (No. 166241)
I still have to work. It's part time at a large box store.
The best part of the job is demonstrating a conservative work ethic.
I can easily out work the young babes.
1 person likes this.
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