U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 03-26-2016, 12:01 PM
 
6,875 posts, read 7,270,643 times
Reputation: 9785

Advertisements

Obviously, I'm sorry for your loss.

But if your brother was an intelligent man, who did his own due diligence -- who clearly had some education/information at his disposal -- and who even with your loving advice and cogent, clear explanation of why he didn't need to work to get that …addition 200K…to go from 800k to a million…you can't blame his advisors for that.

Like may other things in life….it's unfortunate.
I hate to say it but if a person has 800K, a paid off house and the other advantages you tried to get him to see….and that person still can't figure out that they don't need to kill themselves for another 200K….that's on that person, and no one else.

-----------------
Quote:
A little bit more information is in order:

He tried hard to quit the job he hated and find another but the experts said don't quit until you find another job. So he stayed at the miserable job and with the long hours he did not have time to really look hard for a new job. With age discrimination he really struggled anyway in the job market.

He had $800K saved but was told by the experts at Fidelity he needed at least a million or more before he should even think about retiring. I told him any times the experts were wrong because he had no mortgage and lived in a low cost small town and would get $5000 a month if he retired at age 62 from a combination of Social Security and a 3 percent withdrawal and a small pension. But he did not believe me and went with the experts at Fidelity and kept working until he was 67 even though it was killing him.

I think they (the experts) are self serving and want people to work until they drop so they can put more and more money in their investment accounts.
Reply With Quote Quick reply to this message

 
Old 03-26-2016, 01:22 PM
 
Location: On the road
5,922 posts, read 2,885,080 times
Reputation: 11311
Quote:
Originally Posted by Garthur View Post
You found one, congratulations on finding the needle in the haystack. What about the other 1000 that were requested to work to FRA.
Well me finding one was a lot stronger evidence than you had to support your ridiculous claim that every single financial advisor recommends to keep working, and it taking about ten seconds is hardly a needle in a haystack.


Quote:
Originally Posted by Garthur View Post
Of ALL the people ever born only 15% will live to 90
Of ALL the people ever born only 33% will live to 66
Of ALL the people ever born only 55% will live to 47
Of ALL the people ever born only 25% will live to 82

What most do not understand because of the inability to see the whole picture is that the people living till there old enough for retirement have all ready beat the odds of dying in accidents, wars, diseases that are not accounted for in the life expectancy charts.

The human brain can only see what it wants to see and blocks out anything that ruins their preconceived vision of themselves and others.
I'll take twisted statistics and irrelevant facts for $100 Alex.

You said of all the people you've grown up with none are still alive and you're 62, as if this is something anyone should use to weigh the choice on whether to take social security early. Does posting statistics that (I assume) include people from developing countries with high infant mortality rates help? Nope.

Life expectancy tables for the United States are here: https://www.ssa.gov/oact/STATS/table4c6.html

When born life expectancy for a male is about 76, female 81. Therefore yes, your anecdote is atypical. More important to the discussion, at age 62 life expectancy is 81 for a male and 84 for a female. Of course everyone's situation is different and family history, lifestyle, financial needs all come into play, but nobody should be making the call based on hearing about someone who's outlived all their friends at age 62.
Reply With Quote Quick reply to this message
 
Old 03-26-2016, 01:58 PM
 
Location: Coastal New Jersey
56,004 posts, read 54,508,374 times
Reputation: 66349
Quote:
Originally Posted by Steinish View Post
Years ago a coworker of mine dropped dead upon returning home from filling out his retirement papers with our employer. Poor guy really got screwed.
Oh no! I am afraid of something like that happening to me. I don't want to be a good story on an Internet forum. I retired four weeks ago, and should get my first pension check next month.

I worked at the World Trade Center in NYC. Was there on both 2.26.93 and 9.11.01. Waited till after we returned to the new complex to retire.

A week before my last day, I decided to get one more slice from a fave pizza place in the neighborhood. I started to cross Liberty Street, south of the WTC, which is closed to traffic--except for the firehouse. With pizza on the brain, I stepped into the street only to realize that a fire engine is coming at me, blowing its horn. I jumped back and thought, Wow, what a good story that would be--WTC survivor gets run over by a fire truck outside the new WTC a week before her retirement.

I'm being very careful...
Reply With Quote Quick reply to this message
 
Old 03-26-2016, 02:02 PM
 
Location: Mount Airy, Maryland
10,459 posts, read 5,920,270 times
Reputation: 16141
I don't think some of you are being fair to the brother. He is relying on investment advisors to, wait for it, advise on his investments. They are the professionals and this is their field. Folks in their early 60's are terrified about retiring too soon. They know once they leave they can not go back. Lots are in his position, thinking if they just suck it up for a few more years as the experts recommend it would be smooth sailing instead of cat food for dinner.
Reply With Quote Quick reply to this message
 
Old 03-26-2016, 02:15 PM
 
1,075 posts, read 1,117,167 times
Reputation: 1416
Quote:
Originally Posted by Mightyqueen801 View Post
Oh no! I am afraid of something like that happening to me. I don't want to be a good story on an Internet forum. I retired four weeks ago, and should get my first pension check next month.

I worked at the World Trade Center in NYC. Was there on both 2.26.93 and 9.11.01. Waited till after we returned to the new complex to retire.

A week before my last day, I decided to get one more slice from a fave pizza place in the neighborhood. I started to cross Liberty Street, south of the WTC, which is closed to traffic--except for the firehouse. With pizza on the brain, I stepped into the street only to realize that a fire engine is coming at me, blowing its horn. I jumped back and thought, Wow, what a good story that would be--WTC survivor gets run over by a fire truck outside the new WTC a week before her retirement.

I'm being very careful...
You said you were there on 9/11. How did you get out of the tower?
Reply With Quote Quick reply to this message
 
Old 03-26-2016, 02:20 PM
 
Location: SoCal
13,191 posts, read 6,308,074 times
Reputation: 9810
I think a lot of people are too scared to walk away from a steady source of income. I know my sister is. I'm the opposite, I'm too scared not to walk away. Everybody is different. Sometimes working is good for some, sometime it's not. My brother almost had a heart attack at work and he walked to the nurse office, the ambulance was called. Had he been at home, he might not make it. Because nobody's home. For my sister it's a good idea she has something structured otherwise she might stay up all night watching Korean soap, she doesn't exercise either. Going to work might help her.
Everybody is different.
Reply With Quote Quick reply to this message
 
Old 03-26-2016, 03:44 PM
 
Location: Mount Airy, Maryland
10,459 posts, read 5,920,270 times
Reputation: 16141
I can't wait to retire and have things like staying up all night to watch Korean soap be an option.
Reply With Quote Quick reply to this message
 
Old 03-26-2016, 04:07 PM
 
Location: So. of Rosarito, Baja, Mexico
6,652 posts, read 18,667,875 times
Reputation: 6101
I am retired in Baja. Local TV is SKY that shows many movies NEVER shown in the US. We on occasion will have a UNCENSORED complete movie that I had seen in the US and thought.....I don't recall that part shown back then.

As for Korean or other Asian flicks along with French, Spain, or other ethnic movies.....I LOVE them.

The story lines are so different and not predictable as with the US flicks. Story lines all different and sometimes will end that make me puzzled with WTF happened there.

Some are sub titled at the bottom or dubbed in Spanish of which I do understand some but still will watch for two hrs a flick w/o understanding a word. The foreign original background scenery I also like.....saves me from going over there.

So along with my Internet connection of reading a lot and the Vast Foreign movie selections I'm not BORED at all.
Reply With Quote Quick reply to this message
 
Old 03-26-2016, 05:31 PM
 
Location: SoCal
13,191 posts, read 6,308,074 times
Reputation: 9810
Quote:
Originally Posted by DaveinMtAiry View Post
I can't wait to retire and have things like staying up all night to watch Korean soap be an option.
It's not all night. She claimed she went to be at 6:00 am. That's too crazy for me.
Reply With Quote Quick reply to this message
 
Old 03-26-2016, 06:23 PM
 
Location: FLG/PHX/MKE
7,288 posts, read 13,490,578 times
Reputation: 11576
Quote:
Originally Posted by Full Spring Greenery View Post
Finally he reached age 67 and formally retired. A few months later he died suddenly of a massive heart attack.

If only he did not follow those silly experts, maybe he would still be alive today or at least his last five years would have been better!
You really don't know that, though. It's entirely possible that he could have retired five years ago and died shortly thereafter. Some people don't do well with retirement. I know a number of people who retired and died within a short time of retirement. Was it something that would have happened if they had kept working, or did the change in lifestyle (activity, schedule, routine, discipline, diet, whatever) flip a switch somewhere and contribute to the problem?
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top