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Started By
Message
re: Here's How 24% of Baby Boomers Are Solving Their Retirement Crisis
Posted on 12/28/17 at 8:08 am to GreatLakesTiger24
Posted on 12/28/17 at 8:08 am to GreatLakesTiger24
Have you ever noticed rich people don't seem to retire?
Totally anecdotal, but people like Branson, Gates, Buffett (Jimmy and Warren) on and on. Coaches like Dick Lebeau, Bill Snyder and Joe Paterno (before pedogate).
Always wondered why retirement is a big thing for middle class and not for the rich.
My pet's vet is 82 years old. My wife's old pediatrician is 75+. My dentist in Titusville died when he was 66 and was still practicing.
I mean, all these people can ride off into the sunset whenever they feel like it, but choose to go on.
Is it just happiness doing what they love that keeps them going?
Totally anecdotal, but people like Branson, Gates, Buffett (Jimmy and Warren) on and on. Coaches like Dick Lebeau, Bill Snyder and Joe Paterno (before pedogate).
Always wondered why retirement is a big thing for middle class and not for the rich.
My pet's vet is 82 years old. My wife's old pediatrician is 75+. My dentist in Titusville died when he was 66 and was still practicing.
I mean, all these people can ride off into the sunset whenever they feel like it, but choose to go on.
Is it just happiness doing what they love that keeps them going?
4
Posted on 12/28/17 at 8:08 am to GetCocky11
quote:
then they steal jobs from younger people by working a part-time second job
What stealing? If you millenials suck so hard that they would rather hire an old man that is on you.
Posted on 12/28/17 at 8:08 am to Bunk Moreland
quote:
I wonder if the numbers are skewed a bit because they have defined benefit pensions.
That’s what I’m wondering. How did it factor in pension plans?
Posted on 12/28/17 at 8:09 am to Raleigh Tiger
You seem upset.
Posted on 12/28/17 at 8:09 am to Bunk Moreland
quote:
I'm not really a fan of Social Security, but we almost need it because people are too stupid to save.
I mean, they were told the retirement would be there. Social security isn’t an entitlement. It’s paid into by the workers. I’ve been paying in since I was 14 and will likely never see a dime of it.
Posted on 12/28/17 at 8:10 am to GreatLakesTiger24
To all be so conservative and hate the government, they sure do demand the government take care of them now
Muh medicare. Muh social security.
Hypocrites
Muh medicare. Muh social security.
Hypocrites
This post was edited on 12/28/17 at 8:10 am
Posted on 12/28/17 at 8:10 am to GreatLakesTiger24
quote:
The average household aged 56 to 61 has just $163,577 set aside for the future
My wife and I always thought we were woefully behind in our retirement savings. The last time we met with our financial adviser he showed us a chart of where we'll be at retirement age. We're gonna be better off than 85 percent of Americans. I was shocked, but I can tell you we're well ahead of that $163K with many more years to go.
It's sad that in a country with so much opportunity that so few take advantage of those opportunities. It's also a sad testimony to the fact that so few actually plan for tomorrow. They have credit card debt out the arse and believe somehow that it'll get paid off without sacrifice. I don't get it.
Posted on 12/28/17 at 8:10 am to GreatLakesTiger24
quote:
the median savings balance for that age group is just $17,000.
This isn't a retirement savings. This is a downpayment on a car.
Posted on 12/28/17 at 8:11 am to BluegrassBelle
quote:
I’ve been paying in since I was 14 and will likely never see a dime of it.
at anyone who thinks social security is going anywhere. Posted on 12/28/17 at 8:11 am to BluegrassBelle
quote:
Social security isn’t an entitlement.
Posted on 12/28/17 at 8:11 am to gatorrocks
quote:
Is it just happiness doing what they love that keeps them going?
Which would you rather retire early from? An NFL coaching job or working on an assembly line somewhere like Ford or Toyota?
Posted on 12/28/17 at 8:12 am to GetCocky11
quote:
So they refuse to retire from their primary job because they have no savings
And then us younger people that are in our 30s, that should be higher on the ladder by now, aren't putting as much back for our retirement years either. The cycle continues!
Posted on 12/28/17 at 8:13 am to slackster
quote:
at anyone who thinks social security is going anywhere.
If I decide to teach at any point in the state of Kentucky, I can’t draw any social security I’ve ever paid in.
And our pension is in bad, bad shape because the state kept “borrowing” off it for pet projects but not putting the money back. That was also said to “be there” when we retire. But it won’t be.
Posted on 12/28/17 at 8:13 am to mtntiger
quote:
My wife and I always thought we were woefully behind in our retirement savings. The last time we met with our financial adviser he showed us a chart of where we'll be at retirement age. We're gonna be better off than 85 percent of Americans. I was shocked, but I can tell you we're well ahead of that $163K with many more years to go.
To be fair, you can be well ahead of 85% of Americans and still have inadequate savings to maintain your lifestyle during retirement. That being said, congratulations on the planning. It's always nice to have an idea of what you need well before you retire. Can't tell you how many people I've met who retire and then sit down with an advisor for the first time.
Posted on 12/28/17 at 8:13 am to GreatLakesTiger24
quote:
They can't stop losing
Meanwhile a significant portion of their children are living in the parents basement.
Posted on 12/28/17 at 8:14 am to mtntiger
quote:
My wife and I always thought we were woefully behind in our retirement savings. The last time we met with our financial adviser he showed us a chart of where we'll be at retirement age. We're gonna be better off than 85 percent of Americans. I was shocked, but I can tell you we're well ahead of that $163K with many more years to go. It's sad that in a country with so much opportunity that so few take advantage of those opportunities. It's also a sad testimony to the fact that so few actually plan for tomorrow. They have credit card debt out the arse and believe somehow that it'll get paid off without sacrifice. I don't get it.
In the exact same boat. I’m going to retire in 10 years at 50. Same here on the savings and the talk with FA. The reason is simple. Greed.
The American Dream. The overwhelming majority of people spend money they don’t have on stuff they don’t need. They don’t think about next month much less 40 years from now.
Dave Ramsey is a millionaire because people in this country are too stupid to know not to spend money on stupid shite.
That’s not a boomer or millennial problem. That’s a moron problem. And we’ve got a helluva lot more morons around here than not.
Posted on 12/28/17 at 8:14 am to jvilletiger25
quote:
aren't putting as much back for our retirement years either.
Speak for yourself. I have plenty saved and up my contribution 1% each January 1st.
Posted on 12/28/17 at 8:14 am to BluegrassBelle
quote:
Which would you rather retire early from
Duh!
It's just sad that so many people do things they hate for 30-40 years. Hate to see that.
Posted on 12/28/17 at 8:15 am to BluegrassBelle
quote:
If I decide to teach at any point in the state of Kentucky, I can’t draw any social security I’ve ever paid in
The state of Kentucky doesn't decide that for you, the federal government does. It's called the Windfall Elimination Provision, and simply working for a year won't eliminate your SS.
Posted on 12/28/17 at 8:16 am to gatorrocks
quote:
It's just sad that so many people do things they hate for 30-40 years. Hate to see that.
I mean I’d love to be in art restoration but most people still have to work to pay the bills.
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