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if you look at the study they took any taxes and depreciation on the vehicle in to the equation .
the 4.77 an hour costs for the vehicle include those write offs . vehicle costs can be very high and that is what hurts . just what uber takes and what vehicle costs run can cut that 25 an hour in half
My strategy has been to pay off all bills including the car and mortgage and moving to a low cost area. The SS I will receive at 62 after doing this will give me more spendable income than I currently have working with a house and car payment. I also have a 401k.
Also for myself, I can't continue to work indefinitely. My work is physically demanding and I just can't keep doing it into my late 60s and beyond. My body won't allow it. I won't be returning to work after I quit unless it's a small part time job and only if I want to not need to.
We did the same, plus retiring to a low COL. We had physical jobs, and no amount of mental acuity could make up for loss of physical capabilities. Age 60 also.
Now if someone would offer me an online proof-reading job, I'd be all over that.
My dad was still doing physical therapy work in his 80s; didn't need the $$ but loved his work. At that point he was just volunteering in nursing homes since he didn't have the computer skills for a "real" job.
Wal-Mart uses that pool of too early retirees to become greeters.
"Welcome to Wal-Mart"
That is a grim future I planned to never experience.
We had a great greater at our store and everyone loved him. He said he took the job to get out of the house and be around people and he could make you smile even if you were having a bad day. He died shortly after they decided to do away with greeters. We don't go to Walmart often, there are a just a few things we pick up there now and then. I did read that they planned to hire greeters again but it hasn't happened in our town.
Me too. I like to read between the lines on their websites. Note how many are: a) extolling the wonders of early retirement and, b) constantly pushing you to buy their new book about it. The most hilarious of the FIRE websites details the author's successful retirement and that he just drives for Uber because it's fun or something.
Someday I'm going to write a parody of "Strangers in the Night" called "Strangers in My Car".
I don't know anyone who has had to return to work for money because they retired too early. I do know people who will never be able to retire without seriously impacting their money and lifestyle.
One friend is in her early 70's and still works part-time as a nurse out of necessity. Her husband also works part-time in sales. Great people, but they never made smart financial decisions. Their retirement was a verbal promise from the husband's boss that he would "take care of them in retirement" so they shouldn't worry. Well, 10 years ago, his small company went under and there was no retirement money for my too trusting and naive friends. They are just getting by right now thanks to working part-time. Unfortunately, any negative financial happening might be enough for them to lose their still-mortgaged house.
As for driving for Uber or Lyft, I would hesitate out of safety concerns. I would feel more comfortable driving for a local auto dealership like a cousin used to do after retiring. They shuttle people who were having their cars repaired as well as go out of town to pick up cars from other locations. You wouldn't be using your own car, which is a big plus, but you wouldn't have the freedom like working for Uber or Lyft.
I retired almost a year ago at 65 with a tiny private pension that I have been dipping into way too often, so I just got a part time (20 hrs/wk) online editing job so I can stop dipping. I hated the position I retired from, so that was never an option, but I'm hoping this works out.
Wal-Mart uses that pool of too early retirees to become greeters.
"Welcome to Wal-Mart"
That is a grim future I planned to never experience.
I will never make any negative comment about people working at Walmart in their 70s. I know one personally now. You can never tell she’s 72, reasonably youthful and healthy. She’s definitely not a greeter, I forget where she works at Walmart.
Last edited by NewbieHere; 12-02-2018 at 11:33 AM..
I have been talking about retirement and employment with many of my friends, neighbors, and family recently and I have been shocked by how many of them have nearly run out of money and are trying desperately to get a full-time job.
Many of them are in their late 60s and 70s. A number of things happened to them that has caused an urgent need to get a full-time job. These include:
1) Their spouse died and they no longer have his/her Social Security and or Pension or Annuity check. And they did not buy life insurance to make up for the difference.
2) They were told by friends (or Dave Ramsey) that the stock market returned 9% a year so they took out that amount in withdrawals, instead of the conservative 3-4% recommended figure.
3) They did not budget their money and overspent.
4) They had huge emergency expenses, such as medical costs without a Medicare supplement.
Do you think the people I know who are trying to get back into the workforce in their 70s due to poor financial planning or emergencies are all that unusual? Do you think it is possible for someone in their 70s to get another full-time professional job in their field? Any advice or observations?
isnt the widower allowed to get the SS benefits after the spouse passes?
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