4 kinds of financial retirement.... (pension, grandparent, supplement, spouses)

[Zarathu]

I wonder if there ought to be four forums here:

1. Retirement living on just social security at the subsistence level

2. Retirement living with SS and a small pension(or investments), at the hand to mouth level worried about a major expense

3. Retirement at a good pension(or investments) and SS that comes close to what you actually made when you were working.

4. Retirement at a good pension(or investments), SS, and a small part time job under the 14K level that stops SS, and/or more investments amounting to a small part time job of an additional $14K, actually making more than you made when you were working.

Each one of these levels of retirement present diferent needs and problems. Although people in the 1st group will assume that people in the 4th group are problem free, its just probably different, and in the end, everybody dies, and has to cash in all their chips.

Maybe separate sub groups would be worthwhile.

[Escort Rider]

The forum works well as it is. There is a separate thread about retiring on a shoestring. I don't see any need for these subdivisions or for any quibbling about exactly where the dividing lines are between them. If it ain't broke, don't fix it.

[RiverBird]

Originally Posted by Escort Rider

The forum works well as it is. There is a separate thread about retiring on a shoestring. I don't see any need for these subdivisions or for any quibbling about exactly where the dividing lines are between them. If it ain't broke, don't fix it.

Zarathu may have a point in that we are ALWAYS talking apples and oranges when it comes to opinions of any kind (especially financially related) on the retirement forums--people often make blanket comments based on their own experience at a certain income/security level not understanding at all the ground issues of the folks living at other levels of income/security. That's when misunderstandings occur and then we seem to get nowhere. I don't know what the answer is to this, but I do think Z is trying to help out so that the comments given are relevant to everyone and not just a few.

[texdav]

#1 is really hard without any other governamnt assitance compared to just say the 80's where most of thsoe had actaul savings to supplement there social security.Basically SS only brings you beloww the poverty rate as it is likwe 18000 a year not inclucing any governamnt or outsie help.Buig difference in a person living on SS with personal savings gaine dthru years of 8% and above when working.

[Morwyn_7]

Originally Posted by texdav

#1 is really hard without any other governamnt assitance compared to just say the 80's where most of thsoe had actaul savings to supplement there social security.Basically SS only brings you beloww the poverty rate as it is likwe 18000 a year not inclucing any governamnt or outsie help.Buig difference in a person living on SS with personal savings gaine dthru years of 8% and above when working.

I had a little difficulty understanding your post but I think part of what you are saying is that social security alone, i.e no retirement savings or pension, brings in $18000. This is not always correct as many who do collect social security never earned enough to even meet that amount or never worked long enough or both.

I think there is merit in what the OP suggests by the way.

[mathjak107]

it think its all kind of redundant. if you cant afford to make ends meet no matter what the amount or source or you live on as little as you can get by on there is the frugal thread.

its all about income vs expenses no matter where your retirement income comes from or the amount you get.

there are people with high income living hand to mouth and low income doing fine... its all proportional to what you spend not how much you get.

[Bette]

I think most of us would like #3 or #4, however, life steps in. I've know people in great financial shape who had things happen and all the other side, I've know those who never saved a dime, had tons of friends and then inherited money from a grandparent or parent.

My husband and I do not have good role models for retirement. This forum has been a great tool to read of others' travels and decisions - it has made me less scared because I look at my FIL (only one left), he is lonely and sits alone in his home. Maybe he thinks he is content, I just don't know anymore. It has been very hard on my husband (only child) to spend a day with him mowing his lawn, cleaning his home, taking him out to eat, etc, not to mention the medical appointments. He is 88.

My husband's business needs him and I see the stress developing more and more. I do what I can but reading about others and seeing how people pull through or make decisions is gratifying to read. It makes you feel not so alone.

We are not where we want to be financially but we had to help family members throughout the years and this is where we are. This forum has been great.

[StealthRabbit]

Originally Posted by Zarathu

I wonder if there ought to be four forums here:

1. ... social security at the subsistence level

2. .. with SS and a small pension...
3. .. a good pension(or investments) and SS ...

4. ...a good pension(or investments), SS, and a small part time job under the 14K level that stops SS, and/or more investments amounting to a small part time job of an additional $14K, ....

JMHO, no need to split the forum up, good points made by all, and often a source of 'attitude adjustment'

Seems you are missing some important options:
retiring with;

• No SS,
• No healthcare,
• No Pension,
• No great cash flowing investments,
• No rich uncles... AND with
• needy parents, spouses, friends, and adult children (health and wealth needs).

I will venture to guess there are numerically more or these (us) ^^^ than the other side of the spectrum. Such is life in the 'new-economy'. I foresee 'cruise ship retirement' (i.e. including independent living centers) to soon become a lost memory. Tho there will be a sector in the upper of our soon to become 2 class society that will be well cared for.

I gotta ways to go (~40+ yrs). Take a snapshot of 'USA retirement 2050' and I will guess it will be more similar to USA retirement 1940, than it will be USA retirement 2000. I hope I'm pleasantly surprised in my senile years .

[JudiPatooti]

The OP raises and excellent point, however I don't think there needs to be sub forums on retirement. You just have to use a bit of common sense and take the advice in this forum that suits you and your situation and leave the rest behind.

The fact that there are so many financial levels of retirement life is a very interesting point, though. And, yet, there are so many financial levels of every stage of life really.

[jghorton]

Originally Posted by JudiPatooti

The OP raises and excellent point, however I don't think there needs to be sub forums on retirement. You just have to use a bit of common sense and take the advice in this forum that suits you and your situation and leave the rest behind.

The fact that there are so many financial levels of retirement life is a very interesting point, though. And, yet, there are so many financial levels of every stage of life really.

I agree. Life itself could be 'compartmentalized' into many categories and also levels within those categories (finances, family, housing, religion, things considered 'important', how people spend their time, goals, etc). Retirement is just another stage of life with its own variables and uncertainties. It's better to keep financial levels together in the forum ... so folks can gain added insight and perspectives on what is working/not working for others --- and how one might change their own situation.