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Old 07-29-2008, 10:36 AM
 
10,604 posts, read 14,129,393 times
Reputation: 17198

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Quote:
Originally Posted by jojajn View Post
Runwithscissors, Yes, in some cases, retirees are competing for low paying jobs.

http://www.teens4hire.org/articles/d...%2020%2003.pdf

Has to do with the economy. Like I wrote earlier, don't be in a hurry to retire from your established profession. You may find youself asking, "Would you like fries with that?"
Sorry that's an opinion article in the Akron Beacon without any data just a young reporter's opinion. Go read her other articles now they are all about technology and music etc. The article was in 2003 .... about teenagers having trouble finding jobs . She was a journalism major not an economist.

The article is 5 years old. I chose to believe that if retirees were hurting any more now than ever, we could cite something more current, more scientific and more relevant.

Like this Newsweek OPINION confirming that people are chosing to defer retirement because of the current economy. There is no TREND to retire early.

Retirement Postponed | Newsweek Business | Newsweek.com

People like the ones you know have always made poor decisions about their retirement, there's no reason to finger wag to those of us who know what we are doing. I would NEVER IN A MILLION YEARS have bought a house in Florida in the bubble. It was common knowledge that the prices would never hold up.

You may chose to use the word "competing" as in your younger demographic is competing with seniors, I'll give you that. LOL but we are better workers and better skilled for the most part, and most of us that retired young are too bored to sit and do nothing. If you want to call it competing, that's fine but I wouldn't suggest it's because we're anywhere DESPERATE as you seem to infer. And as far as I know there again, is no TREND to justify admonishing some people who are lucky enough to pull it off.

In fact there are message boards full of early retirement planners who are the most anal of any demographic I've ever met. Totally absorbed with planning for a robust multimillion dollar EARLY (as in under 62) retirement. Perhaps it'd be fun to visit THOSE boards to get a better rounded perspective on the term "early retirement".
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Old 07-30-2008, 03:02 PM
 
Location: Midwest
31,007 posts, read 19,495,190 times
Reputation: 7720
Quote:
Originally Posted by Retiredcoach View Post
Absolutely agree with you 100%. I knew a number of fellow workers at Sears about 10 years ago who took a nice (at that time) severance/retirement package when some major corporate restructuring was done. Most were in mid-fifties to early sixties of age. Virtually every one is back to work today by necessity. Their retirement savings grew little, as health insurance, property taxes and prescription costs consumed a significant amount of their savings and income. The best advice a financial adviser gave me years ago was to stay in the workplace as long as you are possibly able. He said that today's dollars will not pay for all of tomorrow's expenses.
I absolutely and unequivocally agree!
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Old 07-30-2008, 03:04 PM
 
Location: Midwest
31,007 posts, read 19,495,190 times
Reputation: 7720
Quote:
Originally Posted by Sunnydee View Post
Financially that is great advice, but for me it negates the quality of life issue. Sure I could work longer, but I'd like to retire before my health deteriorates any more than it already has and while I'm still able to enjoy the retirement I've worked my whole life to achieve.

Your quality of life could change if one day you have to choose between paying for prescription medications or groceries.
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Old 07-30-2008, 03:14 PM
 
Location: Midwest
31,007 posts, read 19,495,190 times
Reputation: 7720
This should give you something to think about before considering an early retirement.

Retirement Statistics
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Old 07-30-2008, 07:51 PM
 
Location: Midwest
31,007 posts, read 19,495,190 times
Reputation: 7720
Quote:
Originally Posted by runswithscissors View Post
Sorry that's an opinion article in the Akron Beacon without any data just a young reporter's opinion. Go read her other articles now they are all about technology and music etc. The article was in 2003 .... about teenagers having trouble finding jobs . She was a journalism major not an economist.

The article is 5 years old. I chose to believe that if retirees were hurting any more now than ever, we could cite something more current, more scientific and more relevant.

Like this Newsweek OPINION confirming that people are chosing to defer retirement because of the current economy. There is no TREND to retire early.

Retirement Postponed | Newsweek Business | Newsweek.com

People like the ones you know have always made poor decisions about their retirement, there's no reason to finger wag to those of us who know what we are doing. I would NEVER IN A MILLION YEARS have bought a house in Florida in the bubble. It was common knowledge that the prices would never hold up.

You may chose to use the word "competing" as in your younger demographic is competing with seniors, I'll give you that. LOL but we are better workers and better skilled for the most part, and most of us that retired young are too bored to sit and do nothing. If you want to call it competing, that's fine but I wouldn't suggest it's because we're anywhere DESPERATE as you seem to infer. And as far as I know there again, is no TREND to justify admonishing some people who are lucky enough to pull it off.

In fact there are message boards full of early retirement planners who are the most anal of any demographic I've ever met. Totally absorbed with planning for a robust multimillion dollar EARLY (as in under 62) retirement. Perhaps it'd be fun to visit THOSE boards to get a better rounded perspective on the term "early retirement".

Runwithscissors, Get back to me in 15 years about how your retirement is holding up financially.
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Old 08-04-2008, 09:25 AM
 
Location: Midwest
31,007 posts, read 19,495,190 times
Reputation: 7720
Default Retirees will overwhelm FL social services

If these statistics hold up, FL's social services may become overextended. I also wonder if this supposed influx of seniors will intend to find employment.

New wave of Baby Boomers ready to descend on Florida : State News : TCPalm
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Old 04-07-2009, 09:06 AM
 
Location: Midwest
31,007 posts, read 19,495,190 times
Reputation: 7720
A quote from a Treasure Coast news website today:

Quote:
Timothy Kingcade, a lawyer with Miami-based Kingcade & Garcia, said his elder clients seeking bankruptcy protection often break down and weep in his office. “It’s very traumatic for them. It’s not what they expected in their golden years,” he said
.

Seniors coming out of retirement to make ends meet : Treasure Coast : TCPalm
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Old 04-07-2009, 07:31 PM
 
Location: Pittsburgh, PA
1,303 posts, read 2,664,558 times
Reputation: 1131
Quote:
Originally Posted by jojajn View Post
A quote from a Treasure Coast news website today:

.

Seniors coming out of retirement to make ends meet : Treasure Coast : TCPalm
Excellent post and very insightful. Anyone who doubts the impact that the economic downturn has, and will have, upon senior savings need only look at the data. $3 trillion dollars already lost from the retirement savings is a nearly insurmountable amount of money.... money that will not be available to be spent on the Florida lifestyle.
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Old 04-09-2009, 06:46 AM
 
4,337 posts, read 6,027,600 times
Reputation: 10407
We're retirees but we're not elderly. We retired early. We get a pension with COLA's, we have a great health insurance plan, our house is paid for, and right now, with the bargains out there, we're enjoying life more than let's say a few years ago because of the affordability of goods. Not all retirees are bagging groceries to make ends meet, and not all retirees are watching their investments go down hill. I'm saddened for the retirees who are stuck but don't make the mistake of thinking all retirees are miserable in this economy.
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Old 04-09-2009, 12:13 PM
 
Location: Niceville, FL
7,647 posts, read 16,029,989 times
Reputation: 7633
Under current versions of the state budget, the retirees put more into Florida's economy than they take back out in public services. I'd offer up a cite but my mad google skillz seem to keep turning up FRS links instead of what I'm looking for on this one, but they're pretty significant net contributors.
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