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Your just like so many others that cannot imgine themselves at retirement age and beyond.Its going to come faster than you thnik ;so quite worrying about things you can't control and do the things that you can. Money is no different in retirement than when working;it may not buy happiness but a lack of it can make it pretty miserable.
I remember kicking it into high gear to retire after reading an actuarial study of huge aerospace companies payouts of pensions at something like 18 months. The chart had death age vs. retirement age and started at 49-86 and ended at 65-67. So I do not think you are wrong or crazy in your thinking.
Depends a lot on the genetic makeup that you were given. Almost nobody on either side of my family has failed to live into their mid 80's, and the side which I take after, has generally lived into their 90's. MY maternal GM lived to 88 while shooting herself up twice a day with insulin since the 30's.
Plan for it as if it's going to happen. If a semi takes you out tomorrow your beneficiaries will hope your will is in order...
Retiring too young can be a problem. My oldest brother retired at 35 and went starkers. He finally started buying rental properties for something to do.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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Quote:
Originally Posted by texdav
...Money is no different in retirement than when working;....
I see a pretty big difference in money, in that BEFORE retirement there was significant INFLOW and incidental outflow.
AFTER retirement it is 100% outflow (sometimes significant, especially when you need a nursing home or healthcare).
I see very insignificant INFLOW of money after retirement. YMMV
Advice... Stop the bleeding
OT 64-67 death... one very healthy friend retired at 62. Went to going away luncheon and died before he could get home @ 3pm. That would be VERY bad... to die at work.
Hint... carry some term insurance, just in case...
Based on historic inflation rates, an individual will need ten to fifty million dollars or more to be retired fifty-five years from now with a moderate income. That's when you'll be eighty-five. Have you figured out how to do it?
It could be worse. Gold has increased at the rate of 25% average for the past ten years. What's your current rate of return?
Last edited by Happy in Wyoming; 10-03-2011 at 11:51 AM..
Based on historical inflation rates, an individual will need ten to fifty million dollars or more to be retired fifty-five years from now with a moderate income. That's when you'll be eighty-five. Have you figured out how to do it?
well that calculation (likely) also has 7-11 slurpee boys getting $100,000 a year.
Value... it's a relative concept.
well that calculation (likely) also has 7-11 slurpee boys getting $100,000 a year.
Value... it's a relative concept.
Today's slurpee boy earns more than a physician in the Nineteen-fifties. People retired back then on two or three thousand per year and survived. If they owned their homes they did more than survive.
Dollars not adjusted for inflation are relative; dollars adjusted for inflation are not.
Hmm! Never did and never would live my life on the basis of a fear of early assumption of room temperature. Family history would indicate that I have only about six years to go. If that's the case they're gonna be some damn fine six years, as will 10-15 that could follow. Life's too short to live in fear regardless of how long it lasts, or not!
Retire from what?? The need to work or just working? Find something you like to do and take vacations.
I would say every decade our mindsets change.. Today in the thirties it may be major traveling, snorkeling, fishing, night clubs, etc..At 40, 50 or 60 and above there is a different mindset.
Retire from what, for what? Life has to have a purpose or it can be boring..
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