| Posted by | Message |
jclem11 
Indiana Fan
Houston, Texas
Member since Nov 2011
2075 posts
| re: Will My Generation Be The First Unable To Retire? (Posted on 10/4/12 at 10:33 am to WavinWilly)
quote:
I'm 23 and am in the mindset that I might have to work for the next 50 years...
I am the same way.
I'm also considering relocating to another country in the next few years as well..
|
| Back to top | |
SilverSpurs13 
LSU Fan
Baton Rouge, LA
Member since Aug 2011
1013 posts
| re: Will My Generation Be The First Unable To Retire? (Posted on 10/4/12 at 10:34 am to elprez00)
Ever heard of "stuffing the mattress?" And no, I'm not talking about banging fat chicks.
|
| Back to top | |
Walt OReilly
Cubs Fan
Member since Oct 2005
65100 posts
| re: Will My Generation Be The First Unable To Retire? (Posted on 10/4/12 at 10:34 am to redstick13)
you arent the first one to tell me that 
|
| Back to top | |
LikeABaussCat
LSU Fan
Greeley, CO
Member since Jul 2012
1468 posts
| re: Will My Generation Be The First Unable To Retire? (Posted on 10/4/12 at 10:37 am to WavinWilly)
My advice, get a 401k with your current employer or a private one.
|
| Back to top | |
Bunk Moreland 
Michigan Fan
Detroit, MI
Member since Dec 2010
3255 posts
| re: Will My Generation Be The First Unable To Retire? (Posted on 10/4/12 at 10:37 am to elprez00)
I think so. Post WWII U.S. is not coming back. Traditional pensions are on the decline and many underfunded. Everyone will be reliant on his 401(k). So, just hope that you earn all of that compound interest the financial guys always say you will get. For several reasons, I don't think that is a given.
|
| Back to top | |
yellowfin 
Illinois Fan
Paige is Pretty
Member since May 2006
51985 posts
| re: Will My Generation Be The First Unable To Retire? (Posted on 10/4/12 at 10:39 am to redstick13)
Friend of mine just got back from 3 years there, schlumberger
|
| Back to top | |
xLxSxUxFxAxNx
LSU Fan
Baton Rouge
Member since Sep 2003
56841 posts
| re: Will My Generation Be The First Unable To Retire? (Posted on 10/4/12 at 10:40 am to jclem11)
to those thinking of relocating to another country.
i'm just curious as to what yo do for a living, what country, do you speak the language, etc.
|
| Back to top | |
jclem11
Indiana Fan
Houston, Texas
Member since Nov 2011
2075 posts
| re: Will My Generation Be The First Unable To Retire? (Posted on 10/4/12 at 10:41 am to redstick13)
quote:
You can forget getting an Australian visa.
Correct. I've looked into it and the requirements are pretty crazy. 
It sucks because I would love to move there.
|
| Back to top | |
RonFNSwanson
LSU Fan
Browtown
Member since Mar 2012
11914 posts
| re: Will My Generation Be The First Unable To Retire? (Posted on 10/4/12 at 10:41 am to WavinWilly)
We will hopefully be living longer lives by the time we get to that age. So working until 75 probably won't be so bad.
|
| Back to top | |
DieselTiger1
LSU Fan
9 Dragon
Member since Oct 2008
12566 posts
| re: Will My Generation Be The First Unable To Retire? (Posted on 10/4/12 at 10:41 am to Walt OReilly)
quote:
Will My Generation Be The First Unable To Retire?
Costa Rica is at the top of my list
my brother is leaving for costa rica in november. its an indefinite stay.
This post was edited on 10/4 at 10:43 am
|
| Back to top | |
ZereauxSum
LSU Fan
Atlanta, GA
Member since Nov 2008
5781 posts
| re: Will My Generation Be The First Unable To Retire? (Posted on 10/4/12 at 10:43 am to xLxSxUxFxAxNx)
I'm a little confused about those saying that they want to live abroad.
If the US economy collapses, an I mean *really* collapses, not like this faux doom and gloom in Europe, then it's probably going to be pretty lousy everywhere on the planet.
|
| Back to top | |
madamsquirrel
LSU Fan
The Snarlington Estate
Member since Jul 2009
17589 posts
 Online
| re: Will My Generation Be The First Unable To Retire? (Posted on 10/4/12 at 10:44 am to elprez00)
My husband and I are right at 40. Since the economic downturn we have changed from planning to retire in a big house to looking at the "tiny house" option.
|
| Back to top | |
dtrack22
Boise State Fan
WTF am I doing here?
Member since Jul 2012
1135 posts
| re: Will My Generation Be The First Unable To Retire? (Posted on 10/4/12 at 10:44 am to DieselTiger1)
Only thing stopping you from retirement is your IRA/401k/savings account...
No reason you can't retire at 65. Guys sound like a bunch of liberals blaming everyone else for your problems
|
| Back to top | |
Walt OReilly
Cubs Fan
Member since Oct 2005
65100 posts
| re: Will My Generation Be The First Unable To Retire? (Posted on 10/4/12 at 10:45 am to DieselTiger1)
i know a handful of people that live there now
they love it
of course the only downside they said was being far away from friends and family
|
| Back to top | |
Cold Pizza 
Ohio State Fan
Member since Sep 2011
7639 posts
| re: Will My Generation Be The First Unable To Retire? (Posted on 10/4/12 at 10:45 am to elprez00)
When SS was started in the Depression, the retirement age set was the same as average life expectancy. The retirement age should be pegged to that. As life expectancy goes up, the retirement age should go up.
Anybody who thinks a pyramid scheme based on a promise by some a-hole 1000 miles away who has no stake in your success or failure is an idiot who deserves to be old and poor.
|
| Back to top | |
OldSouth
LSU Fan
Folsom, LA
Member since Oct 2011
4294 posts
| re: Will My Generation Be The First Unable To Retire? (Posted on 10/4/12 at 10:48 am to DieselTiger1)
quote:
Will My Generation Be The First Unable To Retire?
Costa Rica is at the top of my list
my brother is leaving for costa rica in november. its an indefinite stay
I hope he doesn't hunt.
|
| Back to top | |
Champagne 
New Orleans Saints Fan
French and Spanish Empire Border
Member since Oct 2007
7970 posts
| re: Will My Generation Be The First Unable To Retire? (Posted on 10/4/12 at 10:49 am to dtrack22)
You'd think that your own 401k plan is safe, because it's your retirement money that you worked for.
Let me tell you something -- it's not safe. Your 401k money is only a few Federal Regulations away from being taken from you, against your will, by the Federal Govt for the purpose of investing in Federal Savings Bonds.
LINK
This is an old story. Here is the link:
|
| Back to top | |
yellowfin
Illinois Fan
Paige is Pretty
Member since May 2006
51985 posts
| re: Will My Generation Be The First Unable To Retire? (Posted on 10/4/12 at 10:51 am to OldSouth)
quote:
I hope he doesn't hunt.
I'd trade the fishing down there for my hunting
|
| Back to top | |
CptBengal 
USA Fan
BR Baby
Member since Dec 2007
30726 posts
Online
| re: Will My Generation Be The First Unable To Retire? (Posted on 10/4/12 at 10:52 am to ZereauxSum)
quote:
If the US economy collapses, an I mean *really* collapses, not like this faux doom and gloom in Europe, then it's probably going to be pretty lousy everywhere on the planet.
it wont collapase, but the slow slog towrds a diminishing way of life has begun.
IT WILL GET WORSE BEFORE IT GETS BETTER.
The way out of it is not a 401k. The governments in other cash strapped countries have raided similar programs to pay for themselves. The best way is to hedge EVERYTHING. Diversify to the max. Assets, currencies, equities, etc. Do it in multiple countries, and dont put more than couple eggs in any 1 basket.
To answer someone else, I am a biological oceanographer that does both research for Governments and consults for the fishing industry, as well as statistical consulting. I can work anywhere there is a coast.
|
| Back to top | |
LCA131
Appalachian St. Fan
Home of the Fake Sig lines
Member since Feb 2008
29280 posts
| re: Will My Generation Be The First Unable To Retire? (Posted on 10/4/12 at 10:53 am to yellowfin)
financially, I could retire right now....If I died by Sunday.
|
| Back to top | |
