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Old 05-05-2015, 08:39 AM
 
Location: Great State of Texas
86,093 posts, read 72,469,891 times
Reputation: 27565

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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.
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Old 05-05-2015, 08:39 AM
 
4,477 posts, read 4,738,767 times
Reputation: 9940
Quote:
Originally Posted by whocares811 View Post
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!

Yes, my Dad too. Such a shame.
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Old 05-05-2015, 08:41 AM
 
1,640 posts, read 3,293,312 times
Reputation: 3479
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.
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Old 05-05-2015, 08:55 AM
 
2,633 posts, read 3,372,171 times
Reputation: 6970
Dying and severe illness too young are the worst.

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.
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Old 05-05-2015, 10:04 AM
 
708 posts, read 501,574 times
Reputation: 1165
Well this thread is enough make a person depressed!
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Old 05-05-2015, 10:07 AM
 
Location: Backwoods of Maine
7,110 posts, read 8,147,355 times
Reputation: 18743
Quote:
Originally Posted by whocares811 View Post
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!).
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Old 05-05-2015, 10:13 AM
 
Location: Wisconsin
17,005 posts, read 17,327,635 times
Reputation: 41271
Quote:
Originally Posted by shaylahc View Post
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).
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Old 05-05-2015, 10:22 AM
 
Location: Rosa’s Cantina
177 posts, read 193,693 times
Reputation: 412
Quote:
Originally Posted by Willistonite View Post
Well this thread is enough make a person depressed!
I disagree. This thread might inspire people to retire sooner if they can, especially if they are on the fence and pondering OMY (one more year).
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Old 05-05-2015, 10:26 AM
 
Location: Loudon, TN
5,767 posts, read 4,825,615 times
Reputation: 19387
So I guess the moral of these stories is retire as soon as possible so you live long enough to enjoy it.
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Old 05-05-2015, 10:41 AM
 
761 posts, read 637,263 times
Reputation: 2229
Quote:
Originally Posted by sfcambridge View Post
Dying and severe illness too young are the worst.

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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