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Old 06-01-2009, 09:24 PM
 
Location: Conejo Valley, CA
12,476 posts, read 16,982,833 times
Reputation: 4304

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Quote:
Originally Posted by chet everett View Post
There is actually is a rather simple way to plan for anything that is "uncertain". You plan for a range of possibilities.

The same method has been used successfully by millions of people that are currently retired and living the best of any group of people in the country.

Even 50 years ago people lived for almost a decade after retiring, now it is much much longer: Average Retirement Length: 20 Years
As I said "At best one can work from averages", and then you respond by telling me to plan with ahem...averages (which appears to conflict with the "wisdom" of your elders). You are quoting stats about retirement, which is what? Some arbitrary age when people decide they are "retired". How long on average people are infirm and unable to work before they die is another question entirely. I suggest saving enough for 4~5 years is enough to address this issue without being able to predict the future.

Now if you enjoy what you do and have no plans to stop what point is there for saving for retirement as its typically understood?

If you don't enjoy what you do, well then I can understand, but in this case putting your money towards bettering your life is likely to be more fruitful.
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Old 06-01-2009, 09:28 PM
 
Location: Wouldn't you like to know?
9,113 posts, read 15,309,766 times
Reputation: 3661
I want to have the freedom and choice to be able to work or not later in life.

I see too many people working unfortunately because they have to (due to foolish financial decisions throughout their life)

Its as simple as that.
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Old 06-01-2009, 09:32 PM
 
Location: Conejo Valley, CA
12,476 posts, read 16,982,833 times
Reputation: 4304
Quote:
Originally Posted by CouponJack View Post
I want to have the freedom and choice to be able to work or not later in life.
Having to lock up that much capital makes the price tag pretty high, but if such freedom is worth it to you than there is nothing anybody can say.
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Old 06-01-2009, 09:36 PM
 
Location: Wouldn't you like to know?
9,113 posts, read 15,309,766 times
Reputation: 3661
Quote:
Originally Posted by user_id View Post
Having to lock up that much capital makes the price tag pretty high, but if such freedom is worth it to you than there is nothing anybody can say.
Not really. I live within my means. No cc debt. Saved a bunch of money in my 401k and taxable accounts. Took a little hit from the market, however not as big as most because I was more conservative and diversified. Can't say that about many people, but its how we live and are very happy.


Again, I see old people unfortunately working at walmart and other places alot of times because they HAVE to. Very sad.
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Old 06-01-2009, 09:43 PM
 
Location: Tucson
42,837 posts, read 77,164,326 times
Reputation: 22814
Quote:
Originally Posted by user_id View Post
I find the concept of retirement fundamentally odd. Why exactly would someone want to "retire" at some specified age? The way people look forward to and plan for retirement seems to indicate that the mass of people are not really happy with their lives. If they were, why would there be a desire to retire from it?

Personally, I don't save much for retirement. I have no plans to retire. What little I do save is for the fact that at some point I may not be able to physically do much. But that only requires a few years of living costs.
What a sad, sad American you are... So you live to work I take it...? Just for the record, most of the world works to live.
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Old 06-01-2009, 09:47 PM
 
Location: Conejo Valley, CA
12,476 posts, read 16,982,833 times
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Quote:
Originally Posted by CouponJack View Post
Not really. I live within my means. No cc debt. Saved a bunch of money in my 401k and taxable accounts. Took a little hit from the market, however not as big as most because I was more conservative and diversified...
These are not the sort of issues I had in mind, its locking up that much capital that would bother me. I can't imagine sitting on that kind of money without doing something with it, and here I'm not talking about spending it on crap.

Quote:
Originally Posted by CouponJack View Post
Again, I see old people unfortunately working at walmart and other places alot of times because they HAVE to. Very sad.
Nobody "has" to work at Walmart. Although, some people due to a lack of ability and intelligence may have little other options.
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Old 06-01-2009, 09:50 PM
 
Location: Conejo Valley, CA
12,476 posts, read 16,982,833 times
Reputation: 4304
Quote:
Originally Posted by sierraAZ View Post
What a sad, sad American you are... So you live to work I take it...? Just for the record, most of the world works to live.
Huh? I don't get it. I'm sad because I can find multiple things that I both enjoy and can make money on? ummm....okay?
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Old 06-01-2009, 09:55 PM
 
Location: Tucson
42,837 posts, read 77,164,326 times
Reputation: 22814
Quote:
Originally Posted by user_id View Post
Huh? I don't get it. I'm sad because I can find multiple things that I both enjoy and can make money on? ummm....okay?
Hey, if you're happy to work until you need adult diapers, be my guest... Most of us aren't.
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Old 06-01-2009, 09:56 PM
 
Location: Great State of Texas
86,093 posts, read 69,937,493 times
Reputation: 27520
Quote:
Originally Posted by CouponJack View Post
I want to have the freedom and choice to be able to work or not later in life.

I see too many people working unfortunately because they have to (due to foolish financial decisions throughout their life)

Its as simple as that.
I'm with CouponJack on this. To me it's about choice vs necessity.
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Old 06-01-2009, 09:57 PM
 
985 posts, read 2,302,239 times
Reputation: 722
Quote:
Originally Posted by user_id View Post
I find the concept of retirement fundamentally odd. Why exactly would someone want to "retire" at some specified age? The way people look forward to and plan for retirement seems to indicate that the mass of people are not really happy with their lives. If they were, why would there be a desire to retire from it?

Personally, I don't save much for retirement. I have no plans to retire. What little I do save is for the fact that at some point I may not be able to physically do much. But that only requires a few years of living costs.

Just because you retire from work does not mean you retire from life. Work is what you do to survive, not who you are. Most retirees that I know are still quite active and live very fulfilling lives.
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