Page 3 of 10 FirstFirst 123456 ... LastLast
Results 21 to 30 of 96
  1. #21
    Platinum Member
    Join Date
    Oct 2003
    Posts
    600
    Location
    western Kentucky

    Default Re: Retirement

    To answer some items.

    I don't trust retirement planners either. But they are a tool to get one pointed in the right direction. I made everything worst case in my estimations. Fidelity does not get fees from me for managing my account. They get them from my employer. That was THE main reason I left my money with them instead of moving it when the plant closed.

    Second, we pay some on our health insurance but the greatest part of the bill is paid by the Commonwealth (Kentucky is not a state) of Kentucky and my previous employer. The bill will go up but is still manageable.

    Third, I didn't figure in the reduction in some costs on purpose. For example, I am driving 81 miles every day, 22 mpg makes for a $240 gas bill each month. I left that expense in.

    Third, we have enough put back to make it once age 62 arrives and I start drawing Social Security. What I am concerned about is the gap years from 57 to 62. I think I have a way around that, will have to see Tax Man next week to check it out. By the way, my wife can never draw any Social Security, she is in a different retirement system. But last November she had to start paying Medicare as "shared responsibility" from Obamacare. I am now a registered Democrat who votes straight Republican.

    Fourth, it doesn't matter, I am retiring sometime between March 15th and July 1st. The only thing that will stop that happening is Obama and the Corruptocrats seizing all the 401Ks which I understand they want to do.

  2. #22
    Veteran Member troutsqueezer's Avatar
    Join Date
    Sep 2010
    Posts
    1,048
    Location
    Pilot Hill, CA.
    Tractor
    Kubota B21

    Default Re: Retirement

    Is the money as important as how long one can expect to live after retirement? Check out the tables in this website. For those in engineering or any job that has a high stress level associated with it, the effect of retirement age upon life expectancy is shocking, if you believe the results reported on this website. For example: Retiring at 62, you can expect to live until 71. Retire at 65, it drops dramatically to 67. Retire at 55 and you can expect to live to 85.

    http://faculty.kfupm.edu.sa/coe/gutu...sc/retire1.htm
    - Dennis

    Once you see the bandwagon, it's too late.
    www.goldfinch-acres.com
    Kubota B21
    Polaris Ranger
    Yamaha Kodiak

  3. #23
    Super Member texasjohn's Avatar
    Join Date
    Oct 2005
    Posts
    5,042
    Location
    Central Texas, Jarrell
    Tractor
    Kubota 5030HSTC

    Default Re: Retirement

    Troutsqueezer, amazing paper relating retirement age and longevity!! Thanks for providing it... I retired at 55, makes me glad I did!
    Joy is having the tools you need and needing the tools you have!

    Kubota 5030 HSTC, BB, Danueser PHD, LA853 QA HD FEL w JD toothbar, 3pt chisel, 3 pt disk, 6' shredder, Kubota FEL hay spike, 3pt hay fork w carryall, Kubota RTV 1140

  4. #24
    Elite Member Redneck in training's Avatar
    Join Date
    Nov 2008
    Posts
    2,641
    Location
    South Central Iowa
    Tractor
    TYM 330 HST with FEL

    Default Re: Retirement

    The article states the fact but it doesn't address why. I think it does something to do with money. Assuming that those who could retire at 50 had the money to do it I may conclude that the affluent people can live longer than those less affluent. It is a matter of life style choices we make or are forced on us. Those who can afford to retire at 50 apparently had the money to do it and could make the choices they wanted. Those who are still working after 65 apparently don't have the money even now and have only limited freedom to make choices that want.

    There was another article I read while ago that showed statistical data concluding that if you live over 60 and have no health issues you will very likely live at least till 85.
    Ladia

  5. #25
    Super Member texasjohn's Avatar
    Join Date
    Oct 2005
    Posts
    5,042
    Location
    Central Texas, Jarrell
    Tractor
    Kubota 5030HSTC

    Default Re: Retirement

    Deep inside the article there was the following theory proffered...sounds realistic to me since it merges the ideas of affluence, stress induced health issues and planning which may reduce stress.


    "The hard-working late retirees probably put too much stress on their aging body-and-mind such that they are so stressed out to develop various serious health problems that forced them to quit and retire. With such long-term stress-induced serious health problems, they die within two years after they quit and retire.

    On the other hand, people who take early retirements at the age of 55 tend to live long and well into their 80s and beyond. These earlier retirees probably are either wealthier or more able to plan and manage their various aspects of their life, health and career well such that they can afford to retire early and comfortably."
    Joy is having the tools you need and needing the tools you have!

    Kubota 5030 HSTC, BB, Danueser PHD, LA853 QA HD FEL w JD toothbar, 3pt chisel, 3 pt disk, 6' shredder, Kubota FEL hay spike, 3pt hay fork w carryall, Kubota RTV 1140

  6. #26
    Elite Member smstonypoint's Avatar
    Join Date
    Oct 2009
    Posts
    3,731
    Location
    SC (Upstate) & NC (Piedmont)
    Tractor
    NH TN 55, Kubota RTV 900, Bad Boy Outlaw 61" ZTR

    Default Re: Retirement

    Quote Originally Posted by troutsqueezer View Post
    Is the money as important as how long one can expect to live after retirement? Check out the tables in this website. For those in engineering or any job that has a high stress level associated with it, the effect of retirement age upon life expectancy is shocking, if you believe the results reported on this website. For example: Retiring at 62, you can expect to live until 71. Retire at 65, it drops dramatically to 67. Retire at 55 and you can expect to live to 85.

    Ephrem:
    I agree that the data are shocking. Extraordinary claims require extraordinary proof in my book. I have tried, without success so far, to track down the original paper by Ephrem (Siao Chung) Cheng in order to learn more about his study, research methods, etc.

    I did find this report from Boeing (not an uninterested party) that states the claim by Cheng is an "urban myth."

    http://www.boeing.com/companyoffices...nars/Rumor.pdf

    I'm not arguing against early retirement. I'm just skeptical of the claims by Cheng.

    Steve

  7. #27
    Platinum Member LostInTheWoods's Avatar
    Join Date
    Jun 2009
    Posts
    836
    Location
    Central Kentucky
    Tractor
    Kubota BX2660

    Default Re: Retirement

    Quote Originally Posted by smstonypoint View Post
    I agree that the data are shocking. Extraordinary claims require extraordinary proof in my book. I have tried, without success so far, to track down the original paper by Ephrem (Siao Chung) Cheng in order to learn more about his study, research methods, etc.

    I did find this report from Boeing (not an uninterested party) that states the claim by Cheng is an "urban myth."

    http://www.boeing.com/companyoffices...nars/Rumor.pdf

    I'm not arguing against early retirement. I'm just skeptical of the claims by Cheng.

    Steve
    Gentlemen,

    I am still a bit shy of 40, but I am willing to retire now so that we can put these theories to the test. If 55 is good, 40 should be better, right?

    Please PM me so that we can make arrangements for transferring your funds to my accounts to support my early retirement. Contact friends and family to help as well, as this is important research. I will do my part and update you monthly on my well-being.

    For the cause,

    Lost
    "I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them"
    - Thomas Jefferson

    Opportunity is missed by most people because it is dressed in overalls and looks like work.
    - Thomas Edison

  8. #28
    Elite Member smstonypoint's Avatar
    Join Date
    Oct 2009
    Posts
    3,731
    Location
    SC (Upstate) & NC (Piedmont)
    Tractor
    NH TN 55, Kubota RTV 900, Bad Boy Outlaw 61" ZTR

    Default Re: Retirement

    Quote Originally Posted by LostInTheWoods View Post
    Gentlemen,

    I am still a bit shy of 40, but I am willing to retire now so that we can put these theories to the test. If 55 is good, 40 should be better, right?

    Please PM me so that we can make arrangements for transferring your funds to my accounts to support my early retirement. Contact friends and family to help as well, as this is important research. I will do my part and update you monthly on my well-being.

    For the cause,

    Lost
    Sir,

    Depending upon the beneficence of others to support your early retirement will be of no avail. Just invest your funds with our firm (Dewey, Cheatham, and Howe) and earn 20% per annum. You will be able to retire in short order.

    Sincerely,
    Charles Ponzi and Bernie Madoff
    Attached Thumbnails Attached Thumbnails Retirement-ponzi.jpg   Retirement-bernie-madoff.jpg  

  9. #29
    Platinum Member eepete's Avatar
    Join Date
    Sep 2009
    Posts
    962
    Location
    Efland, NC
    Tractor
    JD 4520, Kubota B21, JD 318

    Default Re: Retirement

    I wish companies had a track where you could get "demoted" as you got into your 50's. Your pay goes down, your responsibility goes down. In the work world, so much of the output, org chart and pay is geared toward that fight with your esteemed colleges as you all try to fit on the top of the pyramid.

    I know of a few engineers in their 50's who got canned and never saw it coming. They assumed their salary would always go up. Then one day it was possible to replace them with two young pups that would get 2.5 times as much work done.

    I tend to agree with the theory that your creativity goes down as time goes on, but your experience goes up. So for a great deal of your work life, creativity times experience is a constant. I think from 55 to 65 this rule starts to break down. Technology changes, senior moments occur, the world's focus changes.

    It would be nice if we could structure things so that there was some option between burn yourself out or stop working. I'm guessing that most have a hard time with the cut in pay and responsibility (control of the project- gotta let a young pup call the shots). That's sad because if you continue to live in a "do or die" world and your in that 55 to 65 range, "die" starts to become the most prevalent outcome.

    My idea of a great retirement would be to work about 9 months out of the year for a 30% less than a new hire engineer. I'd do all that old boring stuff that used to be cutting edge. The 3 months off would be driven by the project timing. Unfortunately, I know of no businesses that would be willing to go this route. The hidden cost of employees (taxes, health insurance, retirement) don't help here either. I suspect that this is why consulting is popular, but I think the work is far more sporadic than most would let on.

    Pete
    '09 JD4520 Cab (60HP), '97 KubotaB21 TLB (21HP), MX6 rotary mower, SB1106 6' Sickle Bar, BB3272 6' box blade, GradeMaster 7' Landplane, 6' landscape rake, Woods GTC 40" tiller, PHD 9" auger, 4' x 8' chain harrow, '90 JD318 (18HP gas) with 48" MM mower, 54" front blade, 47" snowblower.
    Volunteer Firefighter.

  10. #30
    Elite Member smstonypoint's Avatar
    Join Date
    Oct 2009
    Posts
    3,731
    Location
    SC (Upstate) & NC (Piedmont)
    Tractor
    NH TN 55, Kubota RTV 900, Bad Boy Outlaw 61" ZTR

    Default Re: Retirement

    Quote Originally Posted by eepete View Post

    My idea of a great retirement would be to work about 9 months out of the year for a 30% less than a new hire engineer.
    Pete,

    Depending on degree requirements, certification, etc.; teaching might be an option. But I expect that salary would be a major stumbling block.

    Steve

Page 3 of 10 FirstFirst 123456 ... LastLast

Similar Threads

  1. My Retirement Plan
    By ctpres in forum Rural Living
    Replies: 69
    Last Post: 06-26-2010, 07:49 AM
  2. Retirement home in Virginia?
    By Scozz in forum Related Topics
    Replies: 12
    Last Post: 02-22-2006, 08:16 PM
  3. How is retirement treating you??????
    By Junkman in forum Related Topics
    Replies: 16
    Last Post: 08-16-2005, 09:54 PM
  4. Social Security/Personal Retirement Accounts
    By TerryinMD in forum Related Topics
    Replies: 25
    Last Post: 03-09-2002, 08:57 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
© 2013 TractorByNet.com. TractorByNet is a registered trademark of IMC Digital Universe, Inc. Other trademarks on this page are the property of their respective owners.