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.
This thread is for future retirees. More details would definitely help them.
This is not a boast thread.
To some degree it is the opposite of a boast thread. The OP started with the flips side stuff to think about. The little cautionary bit I posted a little upthread is based on some the actual experience of an older relative but I didn't post the details (certainly would not have been a brag).
Never, never, read never said they would be boasting. I am always amazed that people literally list their complete ownership of things, whether it's a boat out right or the amount in their 401k and on and on and on. I don't necessarily see any of it as a boast but more having to show... hey I did it all the right way, see, see. More like a need for approval.
Is this for future retirees? It's nothing new, stated over and over again in numerous other threads. Amazing... work longer, save more and don't take SS until the bitter end. Yeah, we get it, got it, heard it.
But I didn't work longer and I don't plan to wait til 70 to take SS.
A thought for all not yet retiring but considering it. Yes retirement means leaving work and giving up all of that you now feel unappealing. Yes retirement offers a wonderful sense of freedom, however it is obvious from a number of threads and postings currently in the forum that the following reminder might be helpful:
When you retire you are giving up all possible raises, bonuses, promotions, new jobs etc etc. You are giving up all of the work based salary increases you have enjoyed over the years. From that point on any increase in income will be from SS and possibly pension COLA's. In this current environment they will not be large and your income very easily can and will stagnate unless you have also built in personal retirement income vehicles. Age 62-92 can be a very long time financially if all you are depending on is a predetermined CPI.
That doesn't take into consideration that some of us were just plain tired of working and wanted out. "...all possible raises, bonuses, promotions, new jobs etc etc." are nothing more than betting on the if-come and most were pretty stagnant anyway. My guess is that most of us who pulled the plug voluntarily when we did have few if any regrets.
Sorry, TuborgP but this strikes me as nothing more than a downer thread. I'm sure most of us in the past were savvy enough to figure it out and take it into consideration and most in the future will do so as well.
Well I AM retired and I get a monthly stipend that was just shy of 60% of my salary.... And COLA if it comes during a year.... BUT while my pension is not set up for hos much I have in an account to use from, I will get this monthly stipend from when I retired until I die even if that means I live to be 150 years old....
To some degree it is the opposite of a boast thread. The OP started with the flips side stuff to think about. The little cautionary bit I posted a little upthread is based on some the actual experience of an older relative but I didn't post the details (certainly would not have been a brag).
That doesn't take into consideration that some of us were just plain tired of working and wanted out. "...all possible raises, bonuses, promotions, new jobs etc etc." are nothing more than betting on the if-come and most were pretty stagnant anyway. My guess is that most of us who pulled the plug voluntarily when we did have few if any regrets.
Sorry, TuborgP but this strikes me as nothing more than a downer thread. I'm sure most of us in the past were savvy enough to figure it out and take it into consideration and most in the future will do so as well.
My friend this isn't for us, it is for those not yet retired who will be the future us and food for them to think about. Especially with the evolution expected in SS and pensions. Chained CPI etc. What we can do is to share insight and perspective to help them. You have shared much previously about what you did to secure your retirement. Yes you have had pit falls but are hanging in there and moving on.
Like I said in another thread, doom and gloom. For heaven sake, many things are beyond our control.
Congratulations to all those who have a wonderful retirement. For people like me, we just have to stretch our ability to create a good life on less. And it's possible. Think about what is important to you. Health?? Safe place to live?? Friends?? Family??
I am not going to stew over something that might happen. A couple of hundred years ago people were hauling water from the river/lake/hand-dug well. Holes in the ground/outhouses were for toilet purposes. Log homes, tents, etc. were their homes. Hunted for meat, had vegetable gardens, etc.
And look what they were able to do!! They used their heads/intelligence/brawn and created all of the conveniences we enjoy now.
If something terrible happened do you really believe people wouldn't pull together as in the old days and create something better?
I'm not giving up on the human race and I am not succumbing to negative thinking.
Oops.... when I wrote this, I was thinking about another thread..... my mistake Sorry!!
Last edited by NYgal1542; 10-14-2015 at 04:56 PM..
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.
