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Americans Working Longer
Old 12-14-2018, 04:47 PM   #1
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Americans Working Longer

Lately, I have heard news articles of Americans are working longer and not retiring early. Seems to be a new trend in working well into the 60's and ER isn't that popular thing to do. It seem like I been hearing this more and seeing articles about it more in the last 5 month's or so. Anyone else notice the news about this. Here is just one article that I posted on the subject. Not saying it is good or bad just saying the thinking is now work, work and work! LOL Good for them.
https://www.cbsnews.com/news/retirem...rking-past-65/
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Old 12-14-2018, 04:55 PM   #2
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I've been noticing those articles too, perhaps because I'm a regular on this forum and I'm well aware how fortunate we are to be in the position we are.
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Old 12-14-2018, 05:20 PM   #3
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I believe it has to do with the fact that fewer and fewer have defined benefit pensions. It's probably a trend that will continue for quite awhile.
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Old 12-14-2018, 06:55 PM   #4
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Most of our friends won’t retire until between 60-66. I still work part time by choice at 64. It would be horrible to be a Walmart greeter at 80.
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Old 12-14-2018, 07:11 PM   #5
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........ It would be horrible to be a Walmart greeter at 80.
It would be horrible to be a Walmart greeter at any age.
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Old 12-14-2018, 07:28 PM   #6
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I respect anyone who works whether they are a Walmart greeter or are a CEO of a major Corp.
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Old 12-14-2018, 07:35 PM   #7
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Pensions are huge. I had an old school mate I seen last summer and he told me, he would have to work well into his 60's. He actually had a higher paying profession then me and he is conservative person. He said he couldn't retire early because they didn't have a pension plan.
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Old 12-14-2018, 07:43 PM   #8
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I'm sorry but this rubbed me the wrong way. I'm sure that it was in jest but I'm not on this forum to read posts demeaning parts of society. Be grateful and thankful, not condescending.
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Old 12-14-2018, 07:47 PM   #9
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Many folks on this site don't have a pension, or a relatively small one. Nevertheless, we retired early.
If things go south, one needs Plan B and possibly C and D even.
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Old 12-14-2018, 07:55 PM   #10
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I don't know a single person who plans to retire early. Most people I work with plan to work until they are physically unable to. Most will then have to go on disability. Low to moderate income blue collar workers don't have a lot of options. I live far cheaper than most and fully expect to retire in my 50's even though at age 39 I still have not hit $50K gross income in any one year. Most people are unwilling to live on so little and will work until their bodies give out.
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Old 12-14-2018, 08:16 PM   #11
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Birdie, what I meant is that it would be horrible at age 80 to be standing 5 days a week working. There is honor in all work.
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Old 12-14-2018, 08:28 PM   #12
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Many folks on this site don't have a pension, or a relatively small one. Nevertheless, we retired early.
If things go south, one needs Plan B and possibly C and D even.
Seems majority of people on this forum are/were 6-figure earners. Shouldn't be difficult to retire early on a large income like that. Majority of the general public makes less than $50K/yr gross. Much harder to FIRE on that income with no pension.
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Old 12-14-2018, 08:33 PM   #13
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Seems majority of people on this forum are/were 6-figure earners. Shouldn't be difficult to retire early on a large income like that. Majority of the general public makes less than $50K/yr gross. Much harder to FIRE on that income with no pension.
Agree with you on that thought in general, but there have been some written threads of folks here never earning 100k.
HCOL vs. LCOL area also comes into play.
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Old 12-14-2018, 09:12 PM   #14
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Also the field you work in matters. Despite 3 graduate degrees the most I ever made was 62k in human services.
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Old 12-15-2018, 02:17 AM   #15
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Seems majority of people on this forum are/were 6-figure earners. Shouldn't be difficult to retire early on a large income like that. Majority of the general public makes less than $50K/yr gross. Much harder to FIRE on that income with no pension.
Not every well-paid worker knows to save. I left behind many coworkers at megacorp who still toiled away.
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Old 12-15-2018, 03:59 AM   #16
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Seems majority of people on this forum are/were 6-figure earners. Shouldn't be difficult to retire early on a large income like that. Majority of the general public makes less than $50K/yr gross. Much harder to FIRE on that income with no pension.
Two parts to this, offense and defense. If you earn lots and spend it all without savings and investments, then it's hard to retire early.
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Old 12-15-2018, 05:44 AM   #17
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I guess this falls under the spending rubric, but I wonder whether some percentage of this is due to 1) those home equity loans which were pushed so hard before the crash (and I hear them being pushed again); and 2) second families that produce children.

A number of my peers have taken out home equity loans to change "dated" bathrooms and kitchens. From what I've seen, this improves the value of a house only slightly. But few seem willing to wait until they've saved up the necessary amount, thinking, I suppose, that there's no reason to deprive themselves of enjoying the updates for years.

And I look at the number of my colleagues who are supporting their second families into college right now, and I think that it is a significant factor in their continuing to work.
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Old 12-15-2018, 05:57 AM   #18
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I was self employed and did not "retire" until I was 69. I didn't work that long because I had to but because I enjoyed working. DH retired in 2008 at the age of 62 and was delighted to retire at that point. Numerous friends of ours still work and are in their 70's. For the most part, they are self-employed. My point is, not everyone wants to retire early and not every older worker is employed because of financial reasons.


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Old 12-15-2018, 05:58 AM   #19
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I'm sorry but this rubbed me the wrong way. I'm sure that it was in jest but I'm not on this forum to read posts demeaning parts of society. Be grateful and thankful, not condescending.


Me too Birdie, my dad was a retired NYC police officer He had way more money than he needed for his standard of living. He went back to work at Home depot. Why? he was a really handy guy, had lots of knowledge on fixing stuff and he loved, loved, loved the interaction with the trades guy.

He worked until he was about 78 and the guys loved him, customers loved him. when he passed home depot showed up and out. huge floral arrangement and a donation made in his honor.

I hate the "elitist" attitude people here display from time to time, not often but every once in a while it pops out.
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Old 12-15-2018, 06:02 AM   #20
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I think pensions are a huge factor. My pension was cut halfway through my working career. So in my 40's I then had to play catch up, which pretty much meant a severe cut in living. it sucked.

one thing that I don't fully agree with is the working if you can to 70. lol, I'm late 50's and I've already had one knee replacement and the other knee is shot and just biding it's time until it gets replaced.

More times than not apersons health may not let them work until 70.

lastly I know too many people who worked until late 60's and 70's only to die a few years later.
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