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I do not believe people in good health between 55-70 should just quit their jobs and sit around all day doing nothing, but I wonder if America really needs people in their 60s and 70s working full time when there is so many younger workers looking for a job./QUOTE]
What an odd perception of retired people. Some of the busiest and happiest people I know are retired and have full schedules of volunteer work, travel, boating, jogging, golf, social groups, church service, family, hobbies, gardening, writing, painting, etc. My husband and I will not be working after we retire next year - for the rest of our productive lives we will choose a variety of enjoyable, enriching and diverse activities. Many people work their whole lives for other people doing what they are directed to do by others - retirement means freedom to choose the things you want to do when you want to do them - it should be the best and most interesting part of your life.
If all you have ever done is work and you think there is nothing in life more fulfilling than working, you have led a one-dimensional life.
I totally agree. We are retiring early next year, both 60. We want to enjoy our time together: traveling, motorcycling, family, wood-working, gardening, quilting, volunteering, etc. Unfortunately we see a lot of people continue working well beyond when they could retire or retire from the company and go back as consultants. It seems many people think their "life" is their jobs. One has to wonder why.
Unfortunately we see a lot of people continue working well beyond when they could retire or retire from the company and go back as consultants. It seems many people think their "life" is their jobs. One has to wonder why.
Maybe because only one of them is ready to retire and the other isn't yet? Or the other isn't old enough? Or they still have some bills they need to take care of before retiring finally?
A friend of mine took early retirement, his wife is still working. Then they had two weddings come up and had to buy a new car. Now her car is biting the dust (it's a REALLY old Buick Roadmaster) and while they really don't want to replace it, they may not have an option. He went back as a consultant 18 months ago, turns out it was a good thing cause they also had some major medical hit them.
She said she will think about retirement in 2-3 years when she hits 60. He will revisit the subject this winter. Liz
I'm 54 and I know I can't retire at 65, can't afford it. But I also don't see any youngsters trying to fill my shoes, after 25 years in manufacturing and customer service, experience matters. I do think it would be hard for me to find another job, even though I can't stand where I work, the ethics, management and such. I would be up against younger persons with college degrees, but nothing beats experience. I would like to retire or work part time at 60 or 65 but it doesn't appear that will be happening.
Wow, a-writer ... it sounds to me like you've got the basics and the principles (and principal) down right.
Living within your means and still investing in income property at the same time, while making equipment purchases for your business? And investing in raw land, too?
Looks rather good to me. I believe you'll hit a point in a few years where cash flow from rentals and paid for equipment will come together and you'll have more disposable/investable income than you can imagine now.
Good for you!
Well, that is our plan, but, we have sacrificed a bit for years to be in this situation. And, I must point out, WE didn't and don't see our lives as sacrificing, but our children sure do. I actually feel we are closer than most people, as we work together, and the fireworks can fly at times, but that just makes the other fireworks better. Seriously, I don't feel we have missed out on life, and that is the attitude we have tried to instill in our children. I hope one day they will understand why they don't have the latest and greatest, and that one day they will value the hard work it takes to earn a living and try to live their lives as such.
I was hoping for an explaination of why the media is promoting (hyping) late retirement, not people's own stories of poor financial planning.
I am going to take a guess at this and I have no facts to back it up. It's just going to be my ideas.
I feel the politics and possibly the current people in Govenment are pushing this idea of working longer. They are pushing the media. The media will sometimes do things to please those in charge.
Why push people to work longer? They can collect more taxes and more Social Security that way.
Now I don't want to turn this into a political debate. I'm only suggesting this may be the cause. Myself I don't like the idea of being pushed to do things for my life. We'll retire when we want.
I was hoping for an explaination of why the media is promoting (hyping) late retirement, not people's own stories of poor financial planning.
Here are my thoughts on this (though I don't really know if they are valid at all):
Many Baby Boomers have not saved much for retirement, for various reasons.
Social Security is wobbling, so that may make retirement even less feasible for some Baby Boomers.
There is a theory that if Baby Boomers left the work force "on time", this would strike a blow to our economy and GNP.
Some people (and possibly the media) think that encouraging work past the usual retirement age would keep Baby Boomers off the dole and shore up the economy/GNP.
I have seen an increasing number of stories in the media about how many people who reach retirement age are continuing to work. I always wonder if this is a form of social engineering on the part of powerful forces within our government, media and the investment industry, to try to convince older Americans to keep working.
Are we talking traditional media like TV news? I ask because their audience is older and it could just be they are looking to do stories they think will appeal to their audience. I say that because the media has nothing to gain monetarily by pushing that "work 'til you drop" agenda, as far as I can tell. I think they might just be scrounging around for stories that will appeal to seniors.
In a 2005 annual report on american journalism it said people 65 and over are the the biggest viewer age group for both network and cable news. It also said older news viewers tend to be regular news consumers whereas younger people tend to watch only when something is happening. So, my guess is if they were looking for an interest story, rather than a news story, they'd want to do one that interested older americans. My guess is there is no story just to say people are happily retired so it doesn't interest them to cover it.
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I actually feel we are closer than most people, as we work together, and the fireworks can fly at times, but that just makes the other fireworks better. 
media on retirement
