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Thanks everyone for the information. I may move the funds to a shorter term 401K because I think a major crash is coming, primarily based on what the automotive and other MFGs are doing (pulling back, cutting growth/expansion projects on hold, laying off salaried employees, etc).
Honestly, that sounds like a horrible idea. If you're nervous, take your risk level down a notch to a Target Retirement 2030 or 2025 fund. An all-or-nothing mindset is generally a horrible idea. Predicting the next crash is about the same odds as trying to win the lottery.
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Originally Posted by Coldjensens
Working to 70 is not my preference, at least not as a mandatory course, but it is pretty much the mandatory course.
Of course not. I get that. It's just that most people don't stay in the work force until age 70. So if that's your only plan, there's a good chance you're going to have to cut back on your lifestyle. So what I'm saying is you can cut back your lifestyle now, proactively, or you can do it later, reactively. Proactive is almost always better than reactive. I know I sound like a negative nellie, but the odds are against you continuing good paying employment until age 70. I know you didn't want to hear that, but there it is.
My husband worked to 78. He was a doctor, a Psychiatrist. Crazy?? Maybe, but he loved his work his patients. Some he had for over 30 years.
There's nothing wrong with working until age 78 or later if you enjoy what you're doing. The major factor is you want to be in a position to work because you want to, not because you have to for financial reasons.
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Originally Posted by macyny
Worse thing was retirement. His health and persona has changed so much. He has aged and physically has declined. He is 85 now but I saw it start shortly after retirement.
If you found work you love, stay as long as you can even if part time. He couldn't because of medical licensing etc. Moving out of State to Florida put an end to his dream of working even part time.
Save all you can, be proactive and work as long as you can if you love what you do.
I think a lot of people blame things on "retirement". It wasn't retirement per se. It's that the person didn't develop sufficient interests or social interactions outside work.
I really enjoy my day a week of consulting . I can do it forever .
my wife and I have so much to do with all our hobbies and 5 grand kids . we never lack for stuff to do . but the day of interfacing with others and getting out working with trainee's I find is so good mentally for us .
my wife calls it her me day - hair -mani-pedi , etc .
"I think a lot of people blame things on "retirement". It wasn't retirement per se. It's that the person didn't develop sufficient interests or social interactions outside work."
My husband is a classical pianist and photographer. He also volunteers at a large Library in their Classical music section and helps music students and people who are interested in classical music. He does that twice a week. He loves both. His health is the biggest factor with his decline.
I will guess Mysicaltyger and Mathjak are not 85 yrs old. Health issues and the decline in memory, sharpness and overall fitness takes its toll. Multiple medications I feel affect the person.
I realize I am writing about the future of aging. My husband did not anticipate this nor did I. We always joked about growing old in a good way. That doesn't always happen. We have always been very health conscious and fit.
His inability to be a doctor again was the biggest blow. But now, he takes portraits of people and children. He spends hours on the computer editing his photos and does sell some and competes in photo competitions and has won many ribbons. He has won money.
He plays the piano at a Mennonite Church. They love him and he goes there almost every day and plays for their various religious celebrations...my husband is Jewish! They treat him like family. They have been wonderful.
He stays busy, but he is not the same. I am younger and feel I am watching the decline of a incredibly intelligent man.
you guessed right , i am 64 . i did get to hide my own easter eggs last year .
Last edited by mathjak107; 05-30-2017 at 02:53 AM..
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