another gloomy retirement article

[scrabbler1]

Beowulf, the median is half-above and half-below, not the average. But the median IQ is probably pretty close, if not the same, as the average IQ.

 

[Nemo2]

"Think of how stupid the average person is, and realize half of them are stupider than that."

George Carlin

 

[beowulf]

Beowulf, the median is half-above and half-below, not the average. But the median IQ is probably pretty close, if not the same, as the average IQ.

I agree. It all depends on the number of data points. If the number is relatively small, the median and average can be far apart. For example, with home prices:

Here are 11 fictional home prices.

$100,000
$101,000
$102,000
$103,000
$104,000
$105,000
$106,000
$107,000
$650,000
$1,000,000
$3,000,000
The median price of these 11 homes is $105,000. Five homes were lower priced and five homes were higher priced.

The average price of these 11 homes is $498,000. That's what you get if you add up all those prices and divide by 11.

In the case of IQs, we are dealing with 10s of millions, if not hundreds of millions of data points. In this case, the average and median are essentially the same. And are couched in terms of standard deviations, not the number of people in each group. There are many examples of IQ curves available if anyone wants to see one.

 

[JoeWras]

I don't have the math learning to figure out the difference between median and mean*. But since I was taught with the new math, and I can express the median in base 5 arithmetic.

BTW, new math isn't all bad. By learning stuff like base 5 in 5th grade, I was ready for computer math in high school.

* - Just kidding, I remember days and days of picking out mean and median from sets of numbers. And, in the spirit of new math, it WAS a SET.

 

[beowulf]

Base 5 math? I guess we had that back in the day. Except we called it finger and toe math.

 

[JoeWras]

Base 5 math? I guess we had that back in the day. Except we called it finger and toe math.

I remember my mom looking at my homework, shaking her head and muttering something like "Dear Lord."

For you, mom:

 

[Rianne]

Another look at Vanlife, I got a kick out of it..
https://www.facebook.com/viralmotion/videos/1413000455496064/

Hope the link works, first time posting a link..

That was great! What's even funnier, all the hippie, yippie flower children have become conservative republicans

 

[48Fire]

One couple owed a couple of businesses. Another let her employer "manage" her 401k into non-existence.

Just because someone "owns their business" doesn't mean it will make a profit. I have known some people that have mortgaged their homes to keep it afloat. And letting someone manage their 401k is not that uncommon. Not everyone is financially savvy, so passing the risk on to individuals is going to be a problem in some cases.

Put me in the sympathetic category. I see MANY older people working, and I wonder why.

 

[kite_rider]

At the same time, I have a hard time identifying strongly with Gen-X. Although I watched Reality Bites and listened to Nirvana, I was a little bit old for it to strongly resonate. I don't get mad about it, though, I learn from the stupidity of those boomers ahead.

Maybe you should check out Office Space? My former co-workers always thought I was like Peter for some strange reason...

Hope I didn't come across as harsh on my mini-rant. But I just couldn't get over the irony/contrast between the high praise and admiration that Millennials shower over people who leave it all for the freedom of RV life and the pity and scorn that I see here for who are also living RV life.

I could get snarky and mention that the couples in this article were getting social security and medicare. Many of the #Vanlifers have no healthcare coverage and would feel like they won the lottery if they had a monthly social security check.

Then I could do another rant and remind folks that many GenX's are cynical and don't really expect SS or Medicare to be there for them once we hit the magic age of eligibility. This, despite a lifetime of contributions to the system. We come to this sad conclusion thanks to the excellent financial education from our Boomer overlords. When a financial scheme has obligations that far exceed it's contributions, it's considered insolvent. While this has been well understood for years now, there seems to be no political will to address it.

But no, I won't go there.. Just keep it positive.

 

[JoeWras]

Check out Office Space? I have the Flair! I own a DVD copy and have a red stapler.

Mike Judge is within a few months of my age, so yeah, I kind of identify with a lot of his thinking. It doesn't hurt that I live that life at w*rk every day.

It is all good. No worries.

 

[Amethyst]

You must really love the phrase, "I need a discount. I'm a senior citizen on a fixed income!"

BTW those folks in their 70's are mainly "silent generation," not baby boom. They are called "silent" because (unless minority) they seemingly had it easy and therefore didn't like to rock the boat, unlike the successor generation which rocked it on a regular basis. They will be around for quite a while yet, so don't forget to blame them too!

I could get snarky and mention that the couples in this article were getting social security and medicare. Many of the #Vanlifers have no healthcare coverage and would feel like they won the lottery if they had a monthly social security check.

 

[Walt34]

...but I have yet to see anyone but myself offer the advice of taking a typing class.

Oh, I have, several times. One of the two most practical and useful classes I took in H.S. was a class in typing (the other was in personal finance). I cannot claim that I was forward thinking; I only took the class because I knew they could not make me buy a typewriter and therefore could not assign homework, and I hoped to be the only guy in a classroom full of girls (this was 1967-68 so lots of gender separation). It almost worked, one other guy had the same idea so there were two of us. Still, not bad odds.

Both classes have proven to be a lot more useful than the time spent on plain geometry, which I don't think I have used since then.

 

[kite_rider]

Check out Office Space? I have the Flair! I own a DVD copy and have a red stapler.

Mike Judge is within a few months of my age, so yeah, I kind of identify with a lot of his thinking. It doesn't hurt that I live that life at w*rk every day.

A Mike Judge fan and you own a DVD?! Yes, you are actually a GenX'er despite your age.

 

[daylatedollarshort]

I could get snarky and mention that the couples in this article were getting social security and medicare. Many of the #Vanlifers have no healthcare coverage and would feel like they won the lottery if they had a monthly social security check.

This article was also linked to on Reddit, and one Redditor mentioned that living in an RV and doing seasonal work like campground host was the life he was aspiring to live.

I don't quite get with $22K in SS, Medicare and living in an RV they both have to work full-time to make ends meet. It would be interesting to see their budget. How much does living in an RV cost per year if you aren't doing a lot of traveling around?

 

[kite_rider]

This article was also linked to on Reddit, and one Redditor mentioned that living in an RV and doing seasonal work like campground host was the life he was aspiring to live.

I don't quite get with $22K in SS, Medicare and living in an RV they both have to work full-time to make ends meet. It would be interesting to see their budget. How much does living in an RV cost per year if you aren't doing a lot of traveling around?

I just came across yet another #Vanlifer site today and they were estimating $3,000 per month. This includes the payment on the van they didn't fully own. I should point out that the folks at FarOutRide aren't trying to just get by... they are trying to live the life. So lots of travelling around and having fun which costs additional $$.

Vanlife Actual Cost | FarOutRide

Great website by the way and fairly typical the #Vanlife craze..

 

[jazz4cash]

Just because someone "owns their business" doesn't mean it will make a profit. I have known some people that have mortgaged their homes to keep it afloat. And letting someone manage their 401k is not that uncommon. Not everyone is financially savvy, so passing the risk on to individuals is going to be a problem in some cases.



Put me in the sympathetic category. I see MANY older people working, and I wonder why.

Passing management risk of a a 401k to an employer is a huge red flag. She likely believed she had no options. Most reputable employers want a firewall to avoid potential liability.

 

[jazz4cash]

Oh, I have, several times. One of the two most practical and useful classes I took in H.S. was a class in typing (the other was in personal finance). I cannot claim that I was forward thinking; I only took the class because I knew they could not make me buy a typewriter and therefore could not assign homework, and I hoped to be the only guy in a classroom full of girls (this was 1967-68 so lots of gender separation). It almost worked, one other guy had the same idea so there were two of us. Still, not bad odds.

Both classes have proven to be a lot more useful than the time spent on plain geometry, which I don't think I have used since then.

Yup me too! I even had to go to summer school after 9th grade. My regular school was all male so having girls in the class was great. I recall we had a thread on this. Typing was "not required" for professionals back then but we didn't know computer keyboards were coming in and everyone would use them. I didn't ever get the personal finance class but did have engineering economics in freshman year

 

[meierlde]

When I was in In Junior High (some of you may call it "middle school" where you grew or lie) in the early 70s, they still taught a class on "Home Economics". It covered everything from understanding savings account and checkbooks to cooking to sewing to typing. It was a required class for both boys and girls.

It focused on the basics but it helped lay a foundation for managing a household (I was doubly fortunate in that my parents also taught me and my siblings many of these things). I think the class was removed as minds greater than mine felt it "reinforced stereotypes". Something along the lines of those who did well in the class might feel that homemaker or servant was their only option in life.

Unless it was unusual Home Ec was for girls only the guys got shop. In the 1960s they even taught Home Ec in High School and there were degrees in it available at landgrant schools.
IMHO guys need some of it just like girls need some shop, all be it not what was taught way back when, more in the line of simple home repair such as change a toilet flapper valve etc, how to locate shutoff valves etc.

 

[meierlde]

Oh, I have, several times. One of the two most practical and useful classes I took in H.S. was a class in typing (the other was in personal finance). I cannot claim that I was forward thinking; I only took the class because I knew they could not make me buy a typewriter and therefore could not assign homework, and I hoped to be the only guy in a classroom full of girls (this was 1967-68 so lots of gender separation). It almost worked, one other guy had the same idea so there were two of us. Still, not bad odds.

Both classes have proven to be a lot more useful than the time spent on plain geometry, which I don't think I have used since then.

Back when I was in school in the 1960s they offered typing class in summer school so I took it. Also one way I was a prophet back then I said that when I grew up my typewriter would learn how to spell. It Did! (because it became a computer the old fashioned typewriter did not)

 

[growing_older]

Also one way I was a prophet back then I said that when I grew up my typewriter would learn how to spell. It Did! (because it became a computer the old fashioned typewriter did not)

I think maybe there was a brief time when typewriters did have spelling correction. But the fancier word processors pushed them aside, only to be usurped by the microcomputers shortly after that.

https://www.smithcorona.com/blog/pdf/Spellmate.pdf

 

[Nemo2]

I think maybe there was a brief time when typewriters did have spelling correction. But the fancier word processors pushed them aside, only to be usurped by the microcomputers shortly after that.

And then...as they got smarter...they learned to substitute words for others that weren't intended......and they laughed and laughed....

 

[meierlde]

I think maybe there was a brief time when typewriters did have spelling correction. But the fancier word processors pushed them aside, only to be usurped by the microcomputers shortly after that.

https://www.smithcorona.com/blog/pdf/Spellmate.pdf

Had a chance once to use one of the ibm supertypewriters, I recall you stored your work on cards. The big thing was you could change the greeting etc of a letter but keep the same body. (in 1976)

 

[HGTVfan]

I guess I didn't realize that many on this site lack empathy. I had good friends that even with health insurance died broke. That was because she had 8 bouts with cancer and he had 4. They sold everything before dying and paid off all their debt. Most of their $ was gone by then from all the medical bills left after insurance paid. She ended up in a nursing home and after a year on Medicaid until she died. Not exactly golden years.

+1

 

[JoeWras]

I guess I didn't realize that many on this site lack empathy. I had good friends that even with health insurance died broke. That was because she had 8 bouts with cancer and he had 4. They sold everything before dying and paid off all their debt. Most of their $ was gone by then from all the medical bills left after insurance paid. She ended up in a nursing home and after a year on Medicaid until she died. Not exactly golden years

.+1

For sure, there are cases of really bad luck, and these people deserve our support.

From the article, I'm just dumbfounded by "the company manager wanted to help manage the 401k". For that, I say these folks were criminal victims. This is not the norm.

As someone who needs to pay for his own HI, I get it about medical bills. That's one reason I'm OMY. I am budgeting $20k per year in today's dollars for HI. That's not obtainable for some. Hopefully, ACA will hold together and help those who cannot.

My BIL2, smart guy, had HI but decided to drop it to help get a little extra cash to gamble with. This is where my empathy stops.

 

[Danmar]

It isn’t very difficult to come up with reasons why empathy is not warranted, if you want to. I would rather not dwell on these “reasons” and simply be empathetic in a more general way. For this reason I generally ignore these types of articles. Many of us here have done so well compared to so many. I would rather take the “ high road” and thank my “lucky stars” rather than look for reasons why they deserve what they got. But if it makes you feel better, carry on.