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Old 04-03-2016, 08:16 AM
 
71,977 posts, read 72,020,102 times
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all of us eventually stumble in life with at least one of the big three at some point .

divorce -illness-job loss .

the differences between us and our outcomes are how you are situated before and after the event as well as your decisions and choices you make dealing with it .

some are better prepared for the event and others are much more creative and motivated to get back on track after the event ..
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Old 04-03-2016, 08:26 AM
 
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Quote:
Originally Posted by mathjak107 View Post
all of us eventually stumble in life with at least one of the big three at some point .

divorce -illness-job loss .

the differences between us and our outcomes are how you are situated before and after the event as well as your decisions and choices you make dealing with it .

some are better prepared for the event and others are much more creative and motivated to get back on track after the event ..
That's why I started the thread, there is a lot of data included about why so many have different outcomes because of priorities and alternatives. One major reason is prioritizing their kids college education and those savings vehicles.
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Old 04-03-2016, 08:31 AM
 
Location: NC Piedmont
3,919 posts, read 2,889,408 times
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Quote:
Originally Posted by mathjak107 View Post
all of us eventually stumble in life with at least one of the big three at some point .

divorce -illness-job loss .

the differences between us and our outcomes are how you are situated before and after the event as well as your decisions and choices you make dealing with it .

some are better prepared for the event and others are much more creative and motivated to get back on track after the event ..
I think one of the things that makes the last few years before retirement stressful is that if one of those things happens there will be no getting back on track; there would have to be a new plan. To qualify that a little, I am assuming the illness and job loss events to be major ones. I do have some legitimate concern about my current job lasting through retirement, but I am extremely employable (and lots of jobs are short term contracts where age discrimination can actually work in your favor; they know you aren't likely to accept it just to make ends meet and still be looking for a permanent position). I would almost certainly make less but it would not derail me.
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Old 04-03-2016, 08:38 AM
 
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Originally Posted by ReachTheBeach View Post
I think one of the things that makes the last few years before retirement stressful is that if one of those things happens there will be no getting back on track; there would have to be a new plan. To qualify that a little, I am assuming the illness and job loss events to be major ones. I do have some legitimate concern about my current job lasting through retirement, but I am extremely employable (and lots of jobs are short term contracts where age discrimination can actually work in your favor; they know you aren't likely to accept it just to make ends meet and still be looking for a permanent position). I would almost certainly make less but it would not derail me.
That is why I shared with previously to plan and create flexibility to adjust in mid stream. I have read enough of your post to know you are a thinker seeking to be adaptive.
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Old 04-03-2016, 06:41 PM
 
14,022 posts, read 7,477,867 times
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Originally Posted by ReachTheBeach View Post
I think one of the things that makes the last few years before retirement stressful is that if one of those things happens there will be no getting back on track; there would have to be a new plan. To qualify that a little, I am assuming the illness and job loss events to be major ones. I do have some legitimate concern about my current job lasting through retirement, but I am extremely employable (and lots of jobs are short term contracts where age discrimination can actually work in your favor; they know you aren't likely to accept it just to make ends meet and still be looking for a permanent position). I would almost certainly make less but it would not derail me.
Any of the "big 3" can happen then. A good friend of mine is getting divorced at age 59. Not only is it "divide by 2 divorce math" but he's also going to be on the hook for alimony until he hits 65. His net worth is about $5 million so it's kind of insulting that he'd also need to cough up alimony. His soon-to-be-ex was a software engineer before bailing out of work as his career took off. She refuses to work saying it's "demeaning".

I'll be turning 58 in a couple of months. I would have been screwed if I'd had big job or health problems over the last half-dozen years. Every year, the worst case contingency plan looks better and better.

It would be very unlikely if my current job lasted for another 7 or 8 years. I should be able to find work but it might be an ugly commute that I wouldn't really want to do for that many years.
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Old 04-03-2016, 06:47 PM
 
Location: Columbia SC
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Originally Posted by TuborgP View Post
Yes they are cherry picking their targeted audience and not everyone. Their. methodology as with many studies/ reports are clear. Most financial houses are naturally assessing and targeting investors.
Well said.
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Old 04-04-2016, 03:05 AM
 
6,353 posts, read 5,177,403 times
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I think the point is that it's not just the 1% or the 2% or people who inherited money from Uncle Bob. It's the top 15 or 20 percent and *you can do this*. But most people haven't.
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Old 04-04-2016, 03:06 AM
 
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that is very much the intention of these articles .

those who do , can!

typically the same garbage articles we see the doom and gloomer's post daily take the general population , half of which never had any savings in their lives ever in to the mix and combine it with those doing okay saving. then they dilute those who are saving with those who can't or won't save and go look how crappy everyone is doing
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Old 04-04-2016, 03:45 AM
 
3,028 posts, read 2,249,605 times
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Originally Posted by mathjak107 View Post
...personally who cares what others have or don't . if everyone worried more about themselves instead of their neighbor they would be better off
There it is.
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Old 04-04-2016, 05:35 AM
 
29,838 posts, read 34,929,245 times
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Originally Posted by Larry Siegel View Post
I think the point is that it's not just the 1% or the 2% or people who inherited money from Uncle Bob. It's the top 15 or 20 percent and *you can do this*. But most people haven't.
Bada Bing! 3 fold!
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