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Old 06-07-2014, 06:36 PM
 
Location: Haiku
4,162 posts, read 2,591,176 times
Reputation: 6128

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The fact that most of us have no idea when we will die really throws a monkey wrench in the retirement investment planning. It would be a heck of a lot easier if I knew the end date. And if it were very near, in one way that would be nice - I could spend like crazy all my money between now and then without worrying whether it is going to last.

Perhaps when the world has say, 20 or 25 billion people bumping into each other, someone will come up with an early "retirement" plan - if you opt to take an early death, they will pay you some nice lump of money in lieu of SS. Heck, I would seriously consider it if the age of "retirement" was around 80. That's when lots of medical problems arise anyway.

Am I nuts or would anyone else ever consider such an alternative to saving for retirement?

I think there is a sci-fi movie out there on this topic.
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Old 06-07-2014, 06:49 PM
 
Location: SoCal desert
8,093 posts, read 13,242,460 times
Reputation: 14870
Soylent Green
"Listen to me. Hatcher, you've gotta tell 'em! SOYLENT GREEN IS PEOPLE! We gotta stop them! Somehow! Listen! Listen to me…"
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Old 06-07-2014, 06:49 PM
 
Location: Sierra Nevada Land, CA
8,407 posts, read 9,154,456 times
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Suicide is always an option.
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Old 06-07-2014, 07:23 PM
 
Location: Columbia SC
8,993 posts, read 7,762,382 times
Reputation: 12226
I have my retirement income well planned until I am 84 years, 3 months, 12 days, and 17 hours old. Any time after that, I am screwed, blued, and tattooed.....LOL
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Old 06-07-2014, 08:31 PM
 
Location: Los Angeles area
14,018 posts, read 17,754,097 times
Reputation: 32309
During the 34 years I worked as a high school teacher, I often envied those of you who earned a real salary, but I have changed my thinking; I have come to the realization that I was a damn fool to waste any energy envying others.

Why? Because I have a secure, inflation adjusted pension; it will not make one iota of difference how long I live, financially speaking. I am actually very, very fortunate.

(I hope some of you realize I just gave you a straight line; you can now remind me that not only was I a damn fool but that I still am. Oh well, the people most likely to point that out are people I probably already have on ignore.)
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Old 06-07-2014, 08:39 PM
 
1,538 posts, read 1,444,171 times
Reputation: 11220
Have you checked the bottom of your left foot? Sometimes there's an expiration date stamped there, but sometimes they forget to put it on.
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Old 06-07-2014, 10:36 PM
 
Location: Haiku
4,162 posts, read 2,591,176 times
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In Time is the movie I was thinking of, in which time-to-live is an asset that can be bought and sold. Everybody (well, poor people) has an expiration date. But that can be extended. Or not. Depending on if you have money.

My thought was kind of a reverse-mortgage equivalent of that - you sell your right to live forever for an upfront payment. That is valuable to society because it costs a lot for SS and extended end-of-life health care.

Anyway, just a crazy random thought. No government would ever do that. Would they?

Last edited by TwoByFour; 06-07-2014 at 10:37 PM.. Reason: One last quip.
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Old 06-07-2014, 11:50 PM
eok
 
6,684 posts, read 3,175,268 times
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Quote:
Originally Posted by Escort Rider View Post
During the 34 years I worked as a high school teacher, I often envied those of you who earned a real salary, but I have changed my thinking; I have come to the realization that I was a damn fool to waste any energy envying others.

Why? Because I have a secure, inflation adjusted pension; it will not make one iota of difference how long I live, financially speaking. I am actually very, very fortunate.

(I hope some of you realize I just gave you a straight line; you can now remind me that not only was I a damn fool but that I still am. Oh well, the people most likely to point that out are people I probably already have on ignore.)
Do you ever regret retiring? Was your job a passion or a hell or just a job? I think if I were a high school teacher, in a nice high school, I wouldn't be able to retire. I would regret not meeting the next year's class and the one after that. I might just stay there forever. I would try to be the teacher the students would remember forever. I would hope that as adults they would keep visiting me, in the same classroom. Money is hardly an issue to me. From my point of view, it's much easier to learn to live on less than it is to earn more. People shouldn't be judged by how much money they have, but by how they affect the world and the future.
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Old 06-08-2014, 12:26 AM
 
Location: Los Angeles area
14,018 posts, read 17,754,097 times
Reputation: 32309
Quote:
Originally Posted by eok View Post
Do you ever regret retiring? Was your job a passion or a hell or just a job? I think if I were a high school teacher, in a nice high school, I wouldn't be able to retire. I would regret not meeting the next year's class and the one after that. I might just stay there forever. I would try to be the teacher the students would remember forever. I would hope that as adults they would keep visiting me, in the same classroom. Money is hardly an issue to me. From my point of view, it's much easier to learn to live on less than it is to earn more. People shouldn't be judged by how much money they have, but by how they affect the world and the future.
Good, legitimate questions. I'll do my best to answer honestly. I have not regretted retiring, because I was beginning to get burned out. Over the 34 years, I taught in three different high schools, and experienced big changes even within the same school over a period of years. I had some years that were hell on earth, and other years that were very gratifying and enjoyable. Your phrase "in a nice high school" is a huge caveat. My high schools were mixed bags.

Given what you wrote, it sounds like you would have been a very dedicated high school teacher. Whether things would have turned out that rosy for you depends on a lot of factors. Sometimes the greater the idealism at the beginning, the greater the disillusionment and disappointment in the face of reality. Or maybe it would have turned out exactly like you said.

It was never just a job for me; I think it was basically a passion even though there were some hellish experiences along the way - I hope that contradictory statement makes some sense to you.

Ironically I fell into volunteer work with younger students after retiring that has turned into a wonderful passion. For a brief description see the Psychology Forum, a thread entitled "What do you live for and what keeps you going" (or something very similar to that). I would copy and paste it here but it would be off-topic for this thread.
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Old 06-08-2014, 03:54 AM
 
6,353 posts, read 5,167,603 times
Reputation: 8528
Buy a life annuity. It pays you a fixed income until you die. https://investor.vanguard.com/annuity/ Problem solved. (I have no commercial connection with Vanguard or Vanguard Annuities.)
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