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Message
re: What do people do who don’t have enough money for retirement?
Posted on 8/27/23 at 9:07 am to Eighteen
Posted on 8/27/23 at 9:07 am to Eighteen
quote:
These are all real experiences I’ve seen, in addition to too many stories of people taken too young.
This is partially what motivates me. I'm 49 and Mrs. Tantal is 45. She was diagnosed with terminal Stage 4 cancer at 42. She'll probably make it to 46, but 47 is unlikely. Dealing with it made me realize that we only get so many trips around the sun, so we're making the best of what time we have left. We travel often. It's also changed my opinion on retirement planning. My pension is set up in a way that you can chase the money carrot indefinitely. If I worked until 65, it would pay me $14K/month, but what's the point? Why keep working just to sit on a pile of cash because my mobility is declining? I've decided to hang it up in less than 5 years (54) and go enjoy what's left of life while my health still allows it. I won't have as much money as I "want", but I'll have all I'll really need.
3
Posted on 8/27/23 at 9:14 am to Tantal
quote:
This is partially what motivates me. I'm 49 and Mrs. Tantal is 45. She was diagnosed with terminal Stage 4 cancer at 42. She'll probably make it to 46, but 47 is unlikely. Dealing with it made me realize that we only get so many trips around the sun, so we're making the best of what time we have left. We travel often. It's also changed my opinion on retirement planning. My pension is set up in a way that you can chase the money carrot indefinitely. If I worked until 65, it would pay me $14K/month, but what's the point? Why keep working just to sit on a pile of cash because my mobility is declining? I've decided to hang it up in less than 5 years (54) and go enjoy what's left of life while my health still allows it. I won't have as much money as I "want", but I'll have all I'll really need.
So sorry to read this. Praying for you and Mrs. Tantal for all the best.
Thanks for sharing and keeping me honest on the mindset. Need to get another trip on the books for me and Mrs. Eighteen
This post was edited on 8/27/23 at 9:18 am
Posted on 8/27/23 at 9:16 am to jbgleason
quote:
If they come after my retirement, I will leave the country.
Unless it's already off-shore, Uncle Sugar can still get to it. You'd have to cash it out completely, pay the taxes on it, then move what's left somewhere else. As long as you're a U.S. citizen, the government can tax any income originating in the U.S., regardless of where you live.
Posted on 8/27/23 at 9:19 am to Tantal
Tantal
Sounds like you should semi retire and try to travel. Granted if / when the cancer gets too bad that you can’t get around anyways.
Sounds like you should semi retire and try to travel. Granted if / when the cancer gets too bad that you can’t get around anyways.
Posted on 8/27/23 at 9:19 am to BK Lounge
quote:
They do exactly what im gonna do- they move overseas to a LCOL country where you can “live like a king” on a $1500 a month SS check.. not a joke.. hell, ill probably do that even if i *can* afford to retire in America, cause ur money goes a lot farther in other parts of the world , so you can typically retire a lot earlier .
America will probably be so woke and crime-ridden, we will have no choice but to do this.
Posted on 8/27/23 at 9:21 am to Tantal
sorry to hear that baw, best wishes to you and your wife, I always planned to retire at 55 and gave it a trial run but wasn't ready, I did change my mindset to sort of retirement mode meaning I've got enough money to do whatever I want to do and I'm doing just that, if work gets in the way then maybe I'll punch, but between vacation time, sick time, and just flexibility with my schedule, my wife and I lead sort of an "active retiree" lifestyle, we travel all of the time and will go anywhere at the drop of a hat, I no longer miss special occasions because of work, it's a pretty good arrangement
Posted on 8/27/23 at 9:24 am to lsufan112001
quote:
Sounds like you should semi retire and try to travel. Granted if / when the cancer gets too bad that you can’t get around anyways.
We still have 3 kids in school and bills to pay, so we're still somewhat limited on both time and money. She still works. She even sets up her laptop and works remotely while getting her chemo infusions. I think her career is part of what's keeping her alive. I'm afraid that if she didn't have monthly goals to achieve that she might slide downhill quickly.
Posted on 8/27/23 at 9:25 am to jlovel7
Nobody is eating dog food. OP read it on FB and ran over here to post while hyperventilating.
Posted on 8/27/23 at 9:26 am to LSUnatick
quote:
Nobody is eating dog food.
I gave my kids dog bones when they were teething
Posted on 8/27/23 at 9:31 am to Bubb
quote:
America will probably be so woke and crime-ridden, we will have no choice but to do this.
I think we're going to see a rise in more rural gated retirement communities with security for this very reason. There's no way that I'd want to retire in a major metropolitan area, particularly one that's run by Democrats.
Posted on 8/27/23 at 10:21 am to Tantal
I’m 56 now and could financially retire, a guy I work with just did at 55 but he doesn’t have any debt, health care or what I consider a long term plan.
You guys that are considering this at 55, do you plan to pick up some cheap Obamacare or do you have a spouse that has health insurance?
I’m very leary a a major illness or other event with me or the mrs with some crappy insurance could wipe out our savings or one of us has to go to nursing home.
You guys that are considering this at 55, do you plan to pick up some cheap Obamacare or do you have a spouse that has health insurance?
I’m very leary a a major illness or other event with me or the mrs with some crappy insurance could wipe out our savings or one of us has to go to nursing home.
This post was edited on 8/27/23 at 10:30 am
Posted on 8/27/23 at 10:42 am to cbree88
quote:
I’ve heard that some have to resort to eating cat food or dog food.
Thanks to Biden, dog food is alot more expensive per pound than peanut butter and bananas so I’ve made the switch. It does taste alot better.
Posted on 8/27/23 at 10:43 am to AlumneyeJ93
quote:
You guys that are considering this at 55, do you plan to pick up some cheap Obamacare or do you have a spouse that has health insurance?
I know I'm more fortunate than most, but I get to keep my health insurance when I retire. It will be my primary until Medicare kicks in, then it becomes secondary.
Posted on 8/27/23 at 10:45 am to AlumneyeJ93
“cheap Obamacare”…. Probably will not apply to your case.
May want to check into this for coverage versus cost…you will be shocked at the price…. You have to take risk to reduce the cost ..
Yes I used the marketplace medical for a few years .. went on Medicare a few months back.
May want to check into this for coverage versus cost…you will be shocked at the price…. You have to take risk to reduce the cost ..
Yes I used the marketplace medical for a few years .. went on Medicare a few months back.
Posted on 8/27/23 at 10:45 am to AUFANATL
quote:
My parents are elderly and still working fulltime jobs.
Ill always do something as long as I'm physically able because sitting at the house just isn't for me. But once I'm over 60 I do want to able to screw off for several months a year.
I'm behind on retirement as the Covid crash kicked me in the balls pretty well...but its coming back.
This post was edited on 8/27/23 at 10:46 am
Posted on 8/27/23 at 10:46 am to cbree88
quote:
I’ve never actually met a person who eats cat/dog food.
I ate dog food once when I was a kid. It wasn’t good but it was better than the broccoli I was forced to eat
Posted on 8/27/23 at 10:47 am to cbree88
Disability?
Posted on 8/27/23 at 10:58 am to RogerTheShrubber
quote:
That wasn't the point. Its that younger people are not working as much, and older people are taking those jobs.
The point as it was presented is that older people are taking jobs younger people used to do.
While I don't disagree with that to a small extent, Younger people are not lacking work because older people are working more.
There are just as many job opportunities today as there always have been for younger people they just don't want to do them. Again in general. They're off trying to m=become tik tok famous while the older retiree or semi-retiree supplements their income with the low wage entry level job that these young people are too good for.
Posted on 8/27/23 at 10:59 am to Jake88
quote:
Collect free shite from the government.
Work and pay taxes your entire life, get some basic pittance of assistance when you’re too old to contribute any longer and it’s “collect free shite”.
Posted on 8/27/23 at 11:04 am to cbree88
We have two people in our office who are mid 70s. These are white collar professionals. A blue collar guy working at one of our plants is 80.
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