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Old 10-23-2013, 01:48 PM
 
Location: West Orange, NJ
12,542 posts, read 17,327,814 times
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Many middle-class Americans plan to work until they die - Oct. 23, 2013

Am I out of touch, or does this baffle a lot of other folks too? I can't imagine anyone under 35 feeling this way. and why are people so terrified of investing in stocks? seriously....this makes no sense to me at all.
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Old 10-23-2013, 01:58 PM
 
2,677 posts, read 3,640,559 times
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I probably belong to this group. I am 31, have been working decent job for about 8 years now. I contribute what I can to retirement accounts, but I'm afraid it won't add up to much. After day to day expenses, student loans and constantly getting nickle and dimed everywhere, it's hard. On top of that, I don't want to live like a hermit until retirement. I want to enjoy the here and now. I'd rather take a few vacations while I'm young and work until I die than be too old to go anywhere when I do have the time/money.
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Old 10-23-2013, 02:10 PM
 
Location: southwestern PA
20,428 posts, read 34,495,764 times
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DH thought he would retire at age 50.
But then he decided he really liked his job and would work a few more years. He turns 60 soon, and he will continue to work because of health insurance costs (if he remains, it is employer paid and a pretty good plan!).
He does not have to work... we are fine with savings, investments, retirement accounts, pension and SS.
But somehow, since our kids are grown and gone & since he knows he can retire and be fine, his job is not as stressful... so he stays.

He said he just might work for the rest of his life...
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Old 10-23-2013, 02:18 PM
 
Location: Waiting for a streetcar
1,137 posts, read 1,110,264 times
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People who should be able to invest can't. How could that have happened?
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Old 10-23-2013, 02:23 PM
 
Location: Waiting for a streetcar
1,137 posts, read 1,110,264 times
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Quote:
Originally Posted by Pitt Chick View Post
He said he just might work for the rest of his life...
If one enjoys the work and there continue to be challenges, what would be the big rush to quit?
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Old 10-23-2013, 02:26 PM
 
Location: North Beach, MD on the Chesapeake
30,810 posts, read 37,387,391 times
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Quote:
Originally Posted by fairlaker View Post
If one enjoys the work and there continue to be challenges, what would be the big rush to quit?
Because at some point it's time. US society has changed over the last couple decades but you still don't see many 65 or 70 year old carpenters, or bricklayers or factory workers. Sedentary office work, maybe.

I have a sedentary job, teaching, but I'm ready to go now. Mostly because of the changes and "new" plans coming at us. Not because they're "new" but because I just don't feel like going through changes again, for like the 5th or 6th time in my 30 year career.
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Old 10-23-2013, 02:31 PM
 
Location: Portal to the Pacific
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I'm sure we'll slow down, but I don't think my husband or I have plans to retire. If anything we'll go back to school or get retrained for a different sort of occupation. My husband would like to be a lawyer working on environmental concerns. I would like to be a community organizer also working towards sustainability. Those occupations will be easier once we're out of our family-rearing years.

People seem to forget that SS wasn't supposed to last for 20-30 years of life. The average life expectancy in the 60's was only something like 65 or so. Today people have to save a lot more, for a lot more life and from less money than in the past. I think those under-35 folk are more in touch than you are. I'm under 35 (just barely) and we have retirement plans and stocks but I don't know if it'll really be enough. I don't know if the floor will be swept from under us. I think most are just assuming that they can be guaranteed paycheck if they're actually working.

And honestly for a few of us, retirement sounds pretty lame.
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Old 10-23-2013, 03:09 PM
 
Location: West Orange, NJ
12,542 posts, read 17,327,814 times
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Quote:
Originally Posted by katestar View Post
I probably belong to this group. I am 31, have been working decent job for about 8 years now. I contribute what I can to retirement accounts, but I'm afraid it won't add up to much. After day to day expenses, student loans and constantly getting nickle and dimed everywhere, it's hard. On top of that, I don't want to live like a hermit until retirement. I want to enjoy the here and now. I'd rather take a few vacations while I'm young and work until I die than be too old to go anywhere when I do have the time/money.
roughly what % of your income do you save? (include company match if you get one)
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Old 10-23-2013, 03:10 PM
 
Location: West Orange, NJ
12,542 posts, read 17,327,814 times
Reputation: 3677
Quote:
Originally Posted by Pitt Chick View Post
DH thought he would retire at age 50.
But then he decided he really liked his job and would work a few more years. He turns 60 soon, and he will continue to work because of health insurance costs (if he remains, it is employer paid and a pretty good plan!).
He does not have to work... we are fine with savings, investments, retirement accounts, pension and SS.
But somehow, since our kids are grown and gone & since he knows he can retire and be fine, his job is not as stressful... so he stays.

He said he just might work for the rest of his life...
that's fine. but people who feel they need to because they don't think they'll have enough saved 30-35 years from today....that baffles me.
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Old 10-23-2013, 03:13 PM
 
Location: North Beach, MD on the Chesapeake
30,810 posts, read 37,387,391 times
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Quote:
Originally Posted by bradykp View Post
that's fine. but people who feel they need to because they don't think they'll have enough saved 30-35 years from today....that baffles me.
Yeah, that confuses me, too. If there would be one thing my nearly 60 year old self could go back and tell my 30 year old self it would be "Prepare to be surprised".
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