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it reminds me of my ex-father inlaw. he used to smoke his entire life and when ever anyone got on his case he used to say im going to enjoy myself ;if i stop ,what am i going to live another year maybe?
well the day they diagnosed him with lung cancer he cried like a baby . how could he be so short sighted and stupid was all he kept saying. he would have given his right arm for 1 more month.
the point is living a frugal ,almost pauper life is okay if thats what you want but having a choice is the better deal. dont want the dough ? at the end give it to charity ... but to me its just not smart to leave yourself with no option when the time comes.
Last edited by mathjak107; 01-10-2011 at 05:24 PM..
Most of the regular Joes who perform public jobs get a nice pension, but it's not exactly a fortune. I think my mother will be getting around $35K/year, after working in the public libraries for over 20 years (and in urban public schools prior to that). We're also talking about a librarian, which is a highly skilled & post-graduate education profession - so it's not like she "lucked into" a good job. I don't know enough to comment further, but I suspect it's somewhat hyped up in the media.
Yep -- media usually go straight for the higher earners like police chiefs, that get over 200K a year in pension money.... AND go back to double dip as a consultant.....
Yep -- media usually go straight for the higher earners like police chiefs, that get over 200K a year in pension money.... AND go back to double dip as a consultant.....
Exactly! There was a thread recently talking about this subject, and showing how a "librarian" had retired with something like a $200K pension... what they failed to notice was that she was the CITY Librarian, which is the equivalent of being Chief of Police or Fire Captain. I'm a librarian myself, and the City Librarian is my highest supervisor - they earn at least $100-150K annually, and only people with like 15+ years of experience (plus the Master's) can even apply for those positions.
THere's a cliche about work/money, "No one ever says on their deathbed, 'I wish I'd spent more time in the office.'" Well, I'll bet there are a lot of people, especially women, who get older saying, "I wish I'd been more attentive to my financial well-being." If that means spending more time in the office, maybe, so be it. There's a time for everything, and there's a time where being prudent for the future makes a lot of sense. I say this as someone who got a little prudent at age 28 in getting my RN, but didn't get serious about saving money or going back to a job because of its pension plan until I was in my late 40s. Now at 57, I'm very glad I did, and will continue to follow my plan as possible.
I know more than a few people in my age group who are headed for an older age of cat food on sale for dinner. Dunno what they think is going to happen, but they'll find out, all right.
Another question: Do you plan on getting married and having a family? Are you really going to want to be working full time in your late 60's while your grand kids are growing up and coming over for visits? Is your spouse going to want you working full time while you're in your golden years and your friends are traveling and living a life of leisure? I really doubt it.
Are you really going to want to be working full time in your late 60's while your grand kids are growing up and coming over for visits? Is your spouse going to want you working full time while you're in your golden years and your friends are traveling and living a life of leisure? I really doubt it.
Most people use birth to dictate a generation, they use peer personality, so they put the "boomers" at 1943-1960 and Gen-X 1961-1981 and Gen Y or Millennials 1982- mid 00s.
I personally don't believe I will ever retire so no for me.
How do you know this? Do you have a financial plan for your health?
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