Retirement thoughts Past Present Future

[ultrarunner]

One concern again getting attention is the effect of inflation and low interest rates.

Unfortunately know many that I wouldn't say outlived their money but found that big nest egg at 65 with money in T-Bills isn't all that 15 or 20 years down the road even being frugal.

One spry and sharp widow was beside herself having to dip into principal....

Her Accountant Husband said with no debt, social security and interest she is set... inflation and near zero rates changed this...

 

[Doughknob]

.....At the age of 71 clearly it should be serious subject for the 18-25 age group but that seldom happens......

Exactly. It was for me, but indeed it does not seem to be so for most young people. I was putting the Max into my 401K from the start. I was also buying stocks since mid 20s. And trying various side-businesses. All with the idea of creating wealth enough to be secure in older age. It has worked really well. I plan to retire at 58 but also plan to then get another job I like better!

 

[Hay Dude]

Exactly. It was for me, but indeed it does not seem to be so for most young people. I was putting the Max into my 401K from the start. I was also buying stocks since mid 20s. And trying various side-businesses. All with the idea of creating wealth enough to be secure in older age. It has worked really well. I plan to retire at 58 but also plan to then get another job I like better!

Thats what I did-sorta. I beat nails in for 30 years and invested in real estate, gold and stocks.
In my 40’s, I began my dream of custom mowing & farming. I was good at construction and still get calls to build garages & homes. 2020 was about the last year I buckled a tool bag around my waist and I hope to never have to do so again!

 

[RjCorazza]

I retired at 51 after 30 years in the fire service. We always lived well within our means, and were debt free - which goes a long way in being able to retire without significantly changing your lifestyle.
Retiring early is great, but not without it's challenges. Staying active, busy, and productive are practically mandatory imho.

I mow lawns and plow snow in a one mile radius as my retirement hobby, and find it very enjoyable. If I break even I would be satisfied, but I'm actually doing pretty well monetarily with it.

 

[drssg]

When I croak, I hope it's in a nice warm bed, at night, in my sleep, when I'm well past 100.

Probably not realistic, but I'd like to try.

YOU are the problem! If you had the common decency to die at 65, like we used to, we wouldn't be in this mess!

 

[drssg]

But seriously, if we kept to the original intent of social security, the retirement age would be continuously updated to the average life expectancy. It would not be a plan to provide 20 years of happy retirement for those who were unable or unwilling to save for it. It would be an insurance policy for those who live abnormally long.

 

[ovrszd]

I already got screwed by my parents' generation when they raised retirement age from 65-67 back in 1983 because they couldn't manage their finances and refused to fund the promises that they made. Thanks old people. It's your generation that screwed things up. So I don't want to screw my kids as well. Fix the problem. Don't kick the can down the road.

At the very least, make it a tiered increase in age, and don't start the tier for anyone that's already been born. I had the additional 2 years added to me when I was already 22 years old. So, as a young adult, I got screwed by a majority of elderly adults. Thanks.

Stop whining. That's nothing compared to the screwing we are giving the youth of today.....

 

[ovrszd]

Define retirement?

 

[NHBX]

Stop whining. That's nothing compared to the screwing we are giving the youth of today.....

And tomorrow

 

[ultrarunner]

Is the WE a royal WE?

I can think of many ways the tables have turned…

Growing up there was no Section 8 housing, School Lunch, Childcare Credits, Free Cell Phones, Tax Refunds when no taxes paid and so on…
As a property manager how can a property owner be told irrespective if rent is paid or not the owner must continue to maintain, provide services and utilities for years???