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Old 03-25-2016, 04:11 PM
 
83 posts, read 54,154 times
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Quote:
Originally Posted by Full Spring Greenery View Post
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.

The moral of the story is that, in the end, your decisions are YOUR responsibility.
Too often professional 'advisors' are offering their own, self-serving opinions, but when it's time for you to pull the trigger, it's YOU that reaps the consequences.
And since no one knows you - or cares for you - like YOU do, be brave and choose wisely as you see it.
So follow your own instincts, no matter what the experts say.

I retired at 60 and wish I could have done it sooner, but the buyout was great.

P.S. I really don't need all the money I thought I did... but it's nice.
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Old 03-25-2016, 04:26 PM
 
13,053 posts, read 15,415,141 times
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Yep. My husband's uncle was an executive who did very well for himself and his family and worked until he was 70, and then retired and had a very nice house built for him and his wife, complete with pool and lots of upgrades for them to enjoy in their retirement. He was going to have a great pension. And then he died within a short time of retiring. He never got to enjoy any of it.


That's when I decided we might as well retire at 62 and have a chance of enjoying life for a few years. My husband's family is not known for longevity. The uncle mentioned above was married to his mom's sister, so not a blood relative, but all his blood relatives died even younger than 70; some - including his parents - much younger.


About the social security "conspiracy" above - I think one reason that people die soon after retiring is they cease to be as active. I don't think that was the case for my husband's uncle, but it is for a lot of people.
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Old 03-25-2016, 04:34 PM
 
6,436 posts, read 9,967,538 times
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Thank God we have much greater rewards in Heaven.
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Old 03-25-2016, 04:38 PM
 
Location: Lakewood OH
21,698 posts, read 23,692,507 times
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Sorry for the loss of your brother. But who knows what would have happened had he left work sooner? Life happens and we can't predict how it will happen to us. But I agree with you about listening to the silly experts. We do that way too much. Maybe it's because we are so afraid to make our own choices in life. Had I listened to those people I never would have retired on the money I had but illness came to call and I had no choice. I'm doing fine. I had to make some major adjustments in my life and I am still fine tuning but it can be done.

Maybe it was shear determination to plough through and reach his financial goal that kept your brother alive and when that goal was reached he just collapsed. I suspect that's why many people passed away soon after retirement. They race and race and then come to a dead stop. That will kill a horse and it will kill a human being.

Your brother unfortunately listened to the wrong people but maybe this can be a cautionary tale for you and the people who were around him. Listen to yourself and those who know you and have your best interests at heart and not those who don't.
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Old 03-25-2016, 04:41 PM
 
Location: SW MO
23,605 posts, read 31,514,657 times
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Quote:
Originally Posted by BayAreaHillbilly View Post
Ohhhh yahhhh! I bet they spice up them envelopes with Polonium! When "they" are not tracking me and you with them black helicopters!

Target practice!
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Old 03-25-2016, 04:56 PM
 
Location: North West Arkansas (zone 6b)
2,673 posts, read 2,019,866 times
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Quote:
Originally Posted by Anonymous Lurker View Post
I was once told by someone to start paying attention to how many people that I personally know who began to collect social security, then watch to see how long they live after their benefits begin and notice how many die not long afterwards. This person claimed that there was some sort of conspiracy that caused people who began collecting Social Security to die shortly after because the system didn't want to pay out the money.


I laughed it off as being unfounded and nutty... that was until my father retied and began collecting his social security and 5 months later he died. The social security had recently sent him his payment but there is a clause in Social Security that says if the person dies within 8-10 days? after receiving their last SS payment that the payment must be returned to the government. Of course even if the individual paid into SS their entire life once they die their benefits (their money) cannot be given or transferred to their heirs, the government keeps it all.

It wasn't a few months later I then noticed another person I knew begin to collect SS and they too died soon after. Then a year later the same thing with my uncle, he began collecting SS and within 5-6 months he died too.
well that does it. I'm going to do direct deposit so I don't have to touch the poisoned checks.
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Old 03-25-2016, 04:59 PM
 
12,058 posts, read 5,156,615 times
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This is why I'm planning on retiring at 62, buying an inexpensive house in a nice small town and collect SS but continue to work just a few hours a week in order to get health insurance.
The government wants everyone now to retire as late as possible stating that chances are we will live into our mid to late 80s. I'm not falling for that.
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Old 03-25-2016, 05:19 PM
 
Location: The South
5,248 posts, read 3,647,719 times
Reputation: 7943
Quote:
Originally Posted by Anonymous Lurker View Post
I was once told by someone to start paying attention to how many people that I personally know who began to collect social security, then watch to see how long they live after their benefits begin and notice how many die not long afterwards. This person claimed that there was some sort of conspiracy that caused people who began collecting Social Security to die shortly after because the system didn't want to pay out the money.


I laughed it off as being unfounded and nutty... that was until my father retied and began collecting his social security and 5 months later he died. The social security had recently sent him his payment but there is a clause in Social Security that says if the person dies within 8-10 days? after receiving their last SS payment that the payment must be returned to the government. Of course even if the individual paid into SS their entire life once they die their benefits (their money) cannot be given or transferred to their heirs, the government keeps it all.

It wasn't a few months later I then noticed another person I knew begin to collect SS and they too died soon after. Then a year later the same thing with my uncle, he began collecting SS and within 5-6 months he died too.
There is an exception to every rule.. I retired at 57, started SS at 62 and now I am 78.
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Old 03-25-2016, 05:41 PM
 
Location: Las Vegas
13,895 posts, read 25,351,824 times
Reputation: 26407
H died about a year before he could collect. But me personally, I think it was a heart attack. Not a conspiracy!
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Old 03-25-2016, 05:42 PM
 
Location: Beautiful Upstate NY!
13,819 posts, read 25,190,063 times
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Quote:
Originally Posted by Southern man View Post
There is an exception to every rule.. I retired at 57, started SS at 62 and now I am 78.
You, sir, are my hero.
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