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My sister is going to be in that boat.
No retirement savings, no pension. Says she's just going to "work forever".
She lives to shop and could be the poster girl for the "American Consumer"
I figure she'll have to move in with me as SS alone will just not cut it and so am planning accordingly.
The worst is dying just before or after retirement. This happened to both my father and my father-in-law. Worked, worked, worked their whole lives -- and then -- WHAM!
I knew someone whose ILs had lived as misers their whole life, to amass a great wealth so they could retire in style. Just after they retired, FIL was diagnosed with Alzheimers. MIL was in poor health. They spent their retirement living in nursing homes so they could deal with the FIL's illness. The traveling they had saved all their lives for, never happened.
Something similar is happening to my FIL. He just retired a few years ago and is in very poor health. MIL is healthy and active and wants to travel, but FIL is just too sick. I know it's been very disappointing to her.
My parents had just turned 65. My Mom planned to retire that year, while my Dad was still working. Then my father was hit by a car and was almost killed - hospitalized for 6 months, now severely disabled for life. Soon after, my healthy Mom was suddenly diagnosed with pancreatic cancer and died.
Both worked so hard all their lives, saved everything for retirement. Mom never saw retirement. Father's retirement is now spent with doctors, filled with pain and disability.
The worst is dying just before or after retirement. This happened to both my father and my father-in-law. Worked, worked, worked their whole lives -- and then -- WHAM!
Agreed - I was going to say that.
I personally knew 3 people who died on the night of - or the day after - they retired. It freaked me so much, I decided to "take a vacation" while my retirement took place. I didn't even know what day it was. I got back home, refreshed from the vacation...and I was retired (and still alive, and still am, I think!).
I knew someone whose ILs had lived as misers their whole life, to amass a great wealth so they could retire in style. Just after they retired, FIL was diagnosed with Alzheimers. MIL was in poor health. They spent their retirement living in nursing homes so they could deal with the FIL's illness. The traveling they had saved all their lives for, never happened.
Something similar is happening to my FIL. He just retired a few years ago and is in very poor health. MIL is healthy and active and wants to travel, but FIL is just too sick. I know it's been very disappointing to her.
I also know a couple who put off traveling to save for a huge around the world trip after they retired. They both retired in June and were packing a few weeks later for their many, many months long trip when the wife died of a massive heart attack.
The husband was so depressed that he never even took one trip by himself (even years after his wife died).
My parents had just turned 65. My Mom planned to retire that year, while my Dad was still working. Then my father was hit by a car and was almost killed - hospitalized for 6 months, now severely disabled for life. Soon after, my healthy Mom was suddenly diagnosed with pancreatic cancer and died.
Both worked so hard all their lives, saved everything for retirement. Mom never saw retirement. Father's retirement is now spent with doctors, filled with pain and disability.
That's a lot of grief for one family to handle.
My sympathies go out to you.
My BIL smoked like a chimney for years and died from bladder cancer at the age of 65.
Never got a chance to retire.
Left a wife, 2 adult children and 3 grandkids that adored him.
I hope I can go out at 63 and find some enjoyment and peace.
I may live more frugally but I won't be destitute.
My brother, who had all the brains and potential in the world is bipolar and never seemed to get on track.
Failed marriage, no savings or 401k and a low paying job.
He was the "smart" one.....heard it all my life....now I have a better plan and retirement funds.
Like they say "we don't plan to fail, we fail to plan".
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