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I remember a time when stocks were for people that could afford to lose the money, and we could save for our retirement. I hope there is a special lonely place for the person who decided to keep the savings rates artificially low to push us to markets were greedy people are taking our investments and giving us drivel in return.
I remember a time when stocks were for people that could afford to lose the money, and we could save for our retirement. I hope there is a special lonely place for the person who decided to keep the savings rates artificially low to push us to markets were greedy people are taking our investments and giving us drivel in return.
The low interest rates is too boost the economy.
Stock market is the only investment that has given the most returns in long-term.
We think about retirement wrong in this country. Until the last fifty years, retirement was something people did for the last two or three years of their lives. Now, today, we have a whole country full of people who think it is their constitutional right to retire before they are sixty. We have hordes of people trying to take a handful of unproductive government jobs simply because they offer the prospect of being able to retire by age 55. If people retire between 55 and 60 and live until 80 or 85, it ought to be obvious this is going to pose strain on a public and private retirement systems.
The answer is to raise the retirement age. People today shouldn't get their panties in such a wad over it either. The average life expectancy in this country has steadily increased since the end of World War II and continues to do so today. If you take the position you're entitled to be able to retire at the same age people did 60 years ago than you should be willing to pay for the additional retirement benefits you'll be getting. That's the last thing most people want to do.
We need to develop more of an attitude in this country that jobs need to be redesigned so that workers can stay in them longer. Early retirement simply isn't possible for most when many people live into their eighties.
All very fine and good, but there are countless occurrences of people between the ages of 50 and 65 who have worked all their lives, or a good portion of it, in a good paying job only to be either forced into early retirement or forced out of their jobs altogether. One underhanded way it's done, if the employer cannot come up with legitimate reason to actually fire the older worker, is that the "bosses" create an increasingly hostile working environment to the point where the worker is inhibited from doing his/her job and retires early or at 65. Never a word of complaint of any kind, good reviews etc...until that time when it's suddenly a nightmare at work. It would be interesting to hear the accounts of those to whom this has happened, as reported in a professional journal last year.
A bigger issue for me is actually health care. We spend so much freakin' money on health care, and it's siphoning money away from everything else in one way or another. It would be one thing if we were the healthiest country, but we're far from that. I realize the health insurers and Big Pharma are greedy. But we Americans need to start looking in the mirror (literally and figuratively). 2/3 of us are overweight or obese. All the medical care money can buy is not going to fix the underlying problem.
Yes. Two acquaintances of mine who retired quite well off recently died, in their early 60s. The best investment is whole foods (organically grown without pesticides) for you and your family, and a lifestyle that keeps you off your butt. No amount of money can compensate for illness or death.
Please contact me for more information on this or other properties in the wonderful Northern Neck of Virginia: yourNNKguide@gmail.com
- Lynn Lennon, Realtor
Port & Starboard Real Estate, Inc.
804 529 5555
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All very fine and good, but there are countless occurrences of people between the ages of 50 and 65 who have worked all their lives, or a good portion of it, in a good paying job only to be either forced into early retirement or forced out of their jobs altogether. One underhanded way it's done, if the employer cannot come up with legitimate reason to actually fire the older worker, is that the "bosses" create an increasingly hostile working environment to the point where the worker is inhibited from doing his/her job and retires early or at 65. Never a word of complaint of any kind, good reviews etc...until that time when it's suddenly a nightmare at work. It would be interesting to hear the accounts of those to whom this has happened, as reported in a professional journal last year.
That would be us. We had a good business for 20 years. We had a good amount of money saved, but guess what? The bottom dropped out of our particular business, and now, 5 years later, we have used up most of our reserves making ends meet. At 61 my DH is getting his CDL to drive trucks and I'm,
at 63, working at a job I'm grateful to have, for the medical insurance.
You young people, save save save, but even then, you may not have saved enough.
On my current income I am able to save about 400-600/month. I have been using the little financial calculators online for a while and according to them, I need to be putting away 1200-1500 monthly in order to have a proper nest egg for retirement (approx. 1.8 million to retire comfortably around the age of 60).
Quote:
Originally Posted by southkakkatlantan
The problem is I'm 32 already. I'm afraid I'll never be able to retire. I am thinking about going back to school for a Masters to earn a higher income but maybe there are some things I can do now to get on a better retirement track? Did you start saving later in life and were able to 'catch up'? I don't want to work until I'm 75
Any suggestions on working smarter instead of harder?? I am willing to work hard, but if I need to cut spending, get a part time job, start my own business or move abroad I will do what it takes to secure a better financial future for myself.
What did you do or are you doing to retire comfortably? Did you work 3 jobs for half of your life? Save 20% of every dollar you ever earned? Did you inherit money? Get into investments? Earn several degrees? Feel free to pm me if you don't want to post about it here...
Do not follow retirement calculators. They assume your going to travel the world, eat at expensive restaurants, buy new cars and the like. Most people would suggest getting a government job , but the "cat is out of the Bag". Those lucrative pensions will be cut back for future workers. Stay debt free and save 10% or more and you will have enough. Good luck
People tend to forget that the stock market is just a fancy form of gambling.
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