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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).
That's why I am an advocate of trying to do at least some travel when young and healthy. We can set all these plans for the future but the unexpected can and does happen.
We usually hear positive stories about retirement on these boards or just general discussions surrounding it. However, have you experienced a retirement horror story or know anyone who has? Something like a sudden health change upon retirement, a financial decline, a spouse's death, or they just didn't like it.
Can you think of someone who has had a negative retirement? Why?
My buddy dumped about 250k in a year, his fool around money, in the stock market. He was sick about it, and took a job at Wal Mart to cover his medical. He still has a lot of assets, but that was a big blow. He pretty much got sloppy online....ouch.
Why would you want to know the most awful things that can happen in retirement? It's like saying, "has anyone hit their thumb with a hammer and how did it feel?" Pain is pain! The only reason I can think of is if you're looking for reasons not to retire. If we had a crystal ball and I learned that my d-date was the day before I retired, I would probably say, "eh, I'm going to die before I retire anyway". When we don't know, we have hopes and dreams.
My 45 y/o brother played golf in the morning and when he sat down for dinner he was gone before he knew what happened.
His wife happily collected his life insurance and quickly moved on. Not sure what happened to the girlfriends.
Sadly, my DH doesn't like to travel so I'm pretty much stuck in retirement.
That's why I am an advocate of trying to do at least some travel when young and healthy. We can set all these plans for the future but the unexpected can and does happen.
We decided to do much of our travel especially long distances and that took physical ability earlier in life. At 67 I am glad we did and prefer short road trips now even tho able for age. What you dream of doing at 50 often doesn't have the attraction at older age.
I have one for you: I worked for a guy who had retirement all figured out. He retired, took his retirement in full, not opting for the spousal survivor's benefit because "our family is long lived". Well, he immediately is diagnosed with a brain tumor and dies 18 months after retirement. His wife has no benefits from his pension. Goes to show you never know.
My 45 y/o brother played golf in the morning and when he sat down for dinner he was gone before he knew what happened.
His wife happily collected his life insurance and quickly moved on. Not sure what happened to the girlfriends.
Sadly, my DH doesn't like to travel so I'm pretty much stuck in retirement.
Travel with girl buddies or your sibling if you have one. As long as you keep the frequency reasonable, I don't see why his aversion should stop you. My hubby does not want to travel back to our home state, so I go without him. You only live once and it would be a shame to miss seeing the world.
My in-laws are a retirement horror story. MIL gets a disability check and FIL gets Social Security. That is all they are living on. They blew her disability settlement down at the casinos the first year after they got it ($200,000). Idiots.
Now they have $0 assets and sometimes need to even borrow grocery money. I can't imagine being in their position when I am ready for retirement.
My grand father was planning on retiring at 65 and came down with cancer at 61 and passed away 4 weeks after his 62 birthday.
A friend at work broke both his ankles 2 months before he was planning on retiring. It's been 10 years now and he still can't walk without a crutches. His wife told me that both had planned to travel extensively after retirement and because of his disability, they had to cancel all the trips.
Another worker friend of mine came down with prostrate cancer and died a few years before retirement.
An engineer at work was on a business trip and died from a massive heart attack, he was 65. He was going to retire in 6 months.
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