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.
I agree as well. Some people just think that unless you work you have no sense of purpose. To me, that is a shallow outlook without the realization that a person doesn't need to work to have meaning in the life.
I've had those same discussions with some of my family. I get the "what are you going to do all day" question a lot. My answer is whatever I want to do, and I'll be quite happy with it.
It's also apparent that there is a hint of jealousy. Some of them couldn't retire if they wanted to. They never saved any money and as they approach retirement age, they don't have two nickels to rub together. We have planned well financially and otherwise and are ready to move on. It would be nice to get words of encouragement, but it is what it is.
A factory worker I knew lived in the country a mile out of a small town and commuted 25 miles a day to his job. He had a nice house, 5 acres, an apple orchard that he sold apples from every fall.
After he retired I asked how he liked it. He stated he loved it !
He said during his working years, his work at home was usually getting done after 6pm.
Now that he retired he said he quits working at home ( mowing lawn, tending to orchard, snow removal etc ) at 6pm and him and his wife really enjoy the 6pm-10pm free time to socialize or just plain relax.
He truly enjoyed the simple pleasures that were limited during his long working years.
I agree as well. Some people just think that unless you work you have no sense of purpose. To me, that is a shallow outlook without the realization that a person doesn't need to work to have meaning in the life.
I've had those same discussions with some of my family. I get the "what are you going to do all day" question a lot. My answer is whatever I want to do, and I'll be quite happy with it.
It's also apparent that there is a hint of jealousy. Some of them couldn't retire if they wanted to. They never saved any money and as they approach retirement age, they don't have two nickels to rub together. We have planned well financially and otherwise and are ready to move on. It would be nice to get words of encouragement, but it is what it is.
I love this man. He dispels the absolutely stupid notion that only those with "nothing" jobs look forward to retirement. Anyone with any sort of imagination can enjoy retirement. Sure, if your job is the only thing you have in life is what you have that keeps you going, by all means hang onto that lifeline. But if you want to use your later years to see what else is out there, why not take advantage of the opportunity if you are at all able to do so?
Late-Boomers are on the "work until they drop" plan because most never had a defined-benefit pension and most accumulated very little wealth. It takes either a pension or significant accumulated wealth to retire. The median 60-year old has a net worth of about $150K and their Social Security mailing says they would be getting a $15K Social Security check at age 62. Even the 70th percentile 60 year old only has $350K in net worth. 62 simply isn't possible for most people. The late-Boomers have the two year hike in full retirement age. The math is very different if you're born in 1960 with a FRA of 67 instead of being born in 1950 with FRA of 65. Most people born in 1960 will work until they have the health event or employment event that prevents them from working. An age 62 retirement puts them pretty much right at the poverty level.
If you have a pension, great. Retire whenever you want. If you have high net worth, great. Retire whenever you want. 2/3 of people who will be turning 65 in a few years don't have either of those.
Late-Boomers are on the "work until they drop" plan because most never had a defined-benefit pension and most accumulated very little wealth. It takes either a pension or significant accumulated wealth to retire. The median 60-year old has a net worth of about $150K and their Social Security mailing says they would be getting a $15K Social Security check at age 62. Even the 70th percentile 60 year old only has $350K in net worth. 62 simply isn't possible for most people. The late-Boomers have the two year hike in full retirement age. The math is very different if you're born in 1960 with a FRA of 67 instead of being born in 1950 with FRA of 65. Most people born in 1960 will work until they have the health event or employment event that prevents them from working. An age 62 retirement puts them pretty much right at the poverty level.
If you have a pension, great. Retire whenever you want. If you have high net worth, great. Retire whenever you want. 2/3 of people who will be turning 65 in a few years don't have either of those.
Exactly.
Those who have the numbers to do it, then go do it. Those who don't, best not to do it (although many who don't still foolishly forge on ahead).
The other big variable is where you live or plan to live. If you are going for super low COL and are not planning a high burn rate, then yeah, you can probably do early retirement even if you are not a 1%er (or even 5%er). Different strokes ....
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.
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.
