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Old 04-23-2014, 11:53 AM
 
Location: Central Massachusetts
4,800 posts, read 4,847,776 times
Reputation: 6379

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Hi all again. Saw this piece in a search of the web.
Retirement Remains Americans' Top Financial Worry

There are some interesting statistics in it and charts and all. Look it over. Yes some of it we have talked about but that is why we are here. We are here to learn from each other and in that growing process meet new people. You have great input here and it is fun to read some of the back and forth between you.

The top three concerns the story talks about are these.

1) Having enough money for retirement.

2) Being able to pay medical costs

3) Being able to maintain their standard of living


Retirement is the concern of middle aged Americans 30 to 64 as the story goes. For ages above and below the big concern was being able to pay medical costs.

Well my thoughts here are that sure people are worried about that. Once you reach age 30 a good portion of us have started families. We have lives that are filled activity and most of us have no time to sit back and relax.
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Old 04-23-2014, 12:11 PM
 
Location: State of Being
35,885 posts, read 67,165,475 times
Reputation: 22373
I worried about having enough money in retirement . . . until I quit worrying.

I am sick of these articles, to be frank.

Worry is an unnecessary emotion. Worrying is unproductive.

Rather than worry, why not create some revenue sources and save more money? Or change one's lifestyle?

Unless "worry" leads to solutions . . . setting new goals . . . then it is a waste of energy.

There is no way to indemnify one's self or one's family from every possible scenario that can wipe a person out financially.

We rob our lives of any joy when we focus on "not having enough money" rather than "how can I live a productive and meaningful life TODAY."

Nothing wrong with saving and planning, but to think we can somehow shield ourselves against all of life's misfortunes if we worry about it long enough . . . is sheer folly.
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Old 04-23-2014, 12:55 PM
 
Location: Great State of Texas
86,093 posts, read 72,507,006 times
Reputation: 27565
Quote:
Originally Posted by golfingduo View Post
Hi all again. Saw this piece in a search of the web.
Retirement Remains Americans' Top Financial Worry

There are some interesting statistics in it and charts and all. Look it over. Yes some of it we have talked about but that is why we are here. We are here to learn from each other and in that growing process meet new people. You have great input here and it is fun to read some of the back and forth between you.

The top three concerns the story talks about are these.

1) Having enough money for retirement.

2) Being able to pay medical costs

3) Being able to maintain their standard of living


Retirement is the concern of middle aged Americans 30 to 64 as the story goes. For ages above and below the big concern was being able to pay medical costs.

Well my thoughts here are that sure people are worried about that. Once you reach age 30 a good portion of us have started families. We have lives that are filled activity and most of us have no time to sit back and relax.
That's a key point. People think they can stop working but somehow maintain the lifestyle they had when they worked.

Unless you get a retirement income stream that equals your working career paycheck #3 above ain't gonna happen.
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Old 04-23-2014, 01:01 PM
 
Location: Florida -
8,764 posts, read 10,843,052 times
Reputation: 16634
A major advantage of being retired is that one can stop worrying about whether they will be able to retire or not... and doing all that 'retirement planning' (which generally consists of simply figuring out how to make whatever one has last long enough).
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Old 04-24-2014, 04:49 AM
 
Location: Central Massachusetts
4,800 posts, read 4,847,776 times
Reputation: 6379
Of course it seems that there are too many of these stories. But again what is this forum for? Sorry ani I won't stop posting on here just because you don't want to read another story. I think others though enjoy the chance to talk on it.

It isnt like I am making these things up either. If ever we stop thinking on any topic will be the end of humanity.

Jg you are right once you are retired then you can then stop worrying about retirement. Until then it is all human nature. If it isn't one thing it would be another.

HappyTexan you hit on a key point. It isn't so much on how much you have in the long run. It is about how to maintain what you have had going. So maybe while we are saving and investing for that eventual future we should also look at ways to make what we will eventually end working life with last longer at as close to the same lifestyle as we enjoy now.
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Old 04-24-2014, 05:05 AM
 
Location: Texas or Cascais, Portugal
3,418 posts, read 3,183,190 times
Reputation: 8270
I understand how someone could be tired of the endless articles about the coming catastrope! Yesterday I read about how 1 million in savings won't be nearly enough, that you would need a minimun of 2.1 million now if you retire at 65. How many folks can reasonably achieve that? If you know despite your best efforts that you will never reach these theoretical magic numbers, it does get frustrating. I do think most folks will be woefully unprepared for retirement. Most of my co-workers who are well paid do not even max out their 401 savings. I do the best that I can, without drastically altering my current lifestyle because let's face it, at a certain point in retirement, declining health is going to seriously impact money spent on leisure. So you better have some fun now! I also plan to relocate to an area with a lower cost of living, whether it is in the U.S. or perhaps central america. But no, I don't worry. I save what I can and figure worst case scenario, I end up in some third rate nursing home in the last years, hopefully by then I won't know where I am or care
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Old 04-24-2014, 05:57 AM
 
29,779 posts, read 34,867,277 times
Reputation: 11705
Quote:
Originally Posted by nurider2002 View Post
I understand how someone could be tired of the endless articles about the coming catastrope! Yesterday I read about how 1 million in savings won't be nearly enough, that you would need a minimun of 2.1 million now if you retire at 65. How many folks can reasonably achieve that? If you know despite your best efforts that you will never reach these theoretical magic numbers, it does get frustrating. I do think most folks will be woefully unprepared for retirement. Most of my co-workers who are well paid do not even max out their 401 savings. I do the best that I can, without drastically altering my current lifestyle because let's face it, at a certain point in retirement, declining health is going to seriously impact money spent on leisure. So you better have some fun now! I also plan to relocate to an area with a lower cost of living, whether it is in the U.S. or perhaps central america. But no, I don't worry. I save what I can and figure worst case scenario, I end up in some third rate nursing home in the last years, hopefully by then I won't know where I am or care
I read the same article and thought about posting it but the reaction would have been the expected. One million was folly for many and two million really not possible for many more. The lack of wage growth for the middle class along with low fixed income rates decrease the possibilities. There are over six million, millionaires in the country and for some wage gains and market gains work to their advantage. For even more they don't. It is a number crunching reality for both the individual and society. Personally I think the situation is worse than realized by many. Government support will decline as our debt burden increases and inflation erodes what people have and even worse don't have.
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Old 04-24-2014, 06:27 AM
 
10,817 posts, read 8,063,256 times
Reputation: 17025
Quote:
Originally Posted by golfingduo View Post
Of course it seems that there are too many of these stories. But again what is this forum for? Sorry ani I won't stop posting on here just because you don't want to read another story. I think others though enjoy the chance to talk on it.
Honestly, by posting so many sites found in web searches re retirement income, you come across as trying to win the 'most engaging' money.
Sure you can always find topics for discussion as can anyone, but imho it's a little off-putting after awhile.
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Old 04-24-2014, 08:18 AM
 
Location: State of Being
35,885 posts, read 67,165,475 times
Reputation: 22373
Quote:
Originally Posted by golfingduo View Post
Of course it seems that there are too many of these stories. But again what is this forum for? Sorry ani I won't stop posting on here just because you don't want to read another story. I think others though enjoy the chance to talk on it.

It isnt like I am making these things up either. If ever we stop thinking on any topic will be the end of humanity.

Jg you are right once you are retired then you can then stop worrying about retirement. Until then it is all human nature. If it isn't one thing it would be another.

HappyTexan you hit on a key point. It isn't so much on how much you have in the long run. It is about how to maintain what you have had going. So maybe while we are saving and investing for that eventual future we should also look at ways to make what we will eventually end working life with last longer at as close to the same lifestyle as we enjoy now.
I apologize if it appeared I was criticizing you directly, GOLFINGDUO, for posting this article and opening discussion about it.

I didn't mean that this was something you shouldn't post b/c I was worn out with the subject of "feeling there isn't enough money and no way to be prepared" for retirement.

I should have said - I am concerned that there is such a preoccupation in our society with worrying about such matters. The polls definitely do show that folks are preoccupied with this as a topic they worry about.

Why I am concerned is that I feel worry does not help. It is nonproductive and wasteful. If folks are truly "worried," then they should take steps to make whatever changes are necessary so they will no longer focus on worrying, but rather - focus on DOING SOMETHING towards feeling more secure about their futures.
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Old 04-24-2014, 09:44 AM
 
Location: Central Massachusetts
4,800 posts, read 4,847,776 times
Reputation: 6379
Quote:
Originally Posted by biscuitmom View Post
Honestly, by posting so many sites found in web searches re retirement income, you come across as trying to win the 'most engaging' money.
Sure you can always find topics for discussion as can anyone, but imho it's a little off-putting after awhile.
sure and if it becomes that you can ignore it. Don't reply to it. These things die on the vine as it does. They get reopened later under a different thread. But to say that I am just doing it for money don't phase me either. Arent we all doing something for something?

To tell you the truth though biscuitmom I would not say no to money but I doubt I will be picked. It is just not my luck. I will though like to see these conversations continue. There is nothing wrong in re-opening the topic in different ways. Each day someone new joins us here. This particular forum is related to retirement. If the topics we brought up had the price of rice in China as the topic then it would be useless.

Quote:
Originally Posted by anifani821 View Post
I apologize if it appeared I was criticizing you directly, GOLFINGDUO, for posting this article and opening discussion about it.

I didn't mean that this was something you shouldn't post b/c I was worn out with the subject of "feeling there isn't enough money and no way to be prepared" for retirement.

I should have said - I am concerned that there is such a preoccupation in our society with worrying about such matters. The polls definitely do show that folks are preoccupied with this as a topic they worry about.

Why I am concerned is that I feel worry does not help. It is nonproductive and wasteful. If folks are truly "worried," then they should take steps to make whatever changes are necessary so they will no longer focus on worrying, but rather - focus on DOING SOMETHING towards feeling more secure about their futures.
ani I am fine with critism. I have broad shoulders and take responsibility for my words and actions. If I didn't bring these in there would be fewer reasons to be here. Why visit the forum if nothing new has been posted. Your words are part of the discussion.

We can feel that it is over done and that may be but remember that this is what this forum is for. There are rules to follow but the forum is here to open dialog and discussion. If I am not allowed to do that then why have the forum at all.
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