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another gloomy retirement article
09-29-2017, 12:38 PM
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#1
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Thinks s/he gets paid by the post
Join Date: Jul 2011
Location: Bernalillo, NM
Posts: 2,717
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another gloomy retirement article
__________________
"We live the lives we lead because of the thoughts we think" ...Michael O’Neill
"We can cannot compel others to do our will" ....Norman Goldman
"There never is shortage of the gullible to accept the illogical"...Anonymous
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09-29-2017, 12:40 PM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2013
Location: ATL --> Flyover Country
Posts: 6,649
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Quote:
Originally Posted by timo2
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I read about 2 sentences and realized that this is a story that has been repeated over and over and over and over.
Edit...and the political slant of the article is well...that can't be discussed here.
__________________
FIRE'd in 2014 @ 40 Years Old
Professional Retiree
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09-29-2017, 12:46 PM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Posts: 6,506
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Please hold until I get the world's smallest violin to play the saddest tune.
__________________
There must be moderation in everything, including moderation.
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09-29-2017, 12:48 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Nov 2009
Location: SF East Bay
Posts: 4,342
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I like the photo at the head of the article, especially the way the photographer has used the color temperature to contrast the blue of the outside with the warmer inside lighting.
Oh, this is an article about older folk who are struggling to make ends meet! Sorry - I was waylaid by the cool photo! A brief synopsis of the article accompanied, perhaps, by your own opinions, would have been nice. I only scan-read the article and looked at the photos, but haven't there always been a significant number of people who struggled to get by in old age? I'm guessing the problem was even worse before the introduction of SS, Medicare, and various other related benefits.
I'm not without sympathy for folks who are struggling in their senior years - not at all, but this doesn't seem like news to me, though there was an extra angle added, of the view that increasingly, people lower down the financial "ladder" are being left behind. I do like the header photo though, and the one of the couple in the laundromat. That's a classic wide-angle photojournalism perspective, taken from close-up.
My main take-away from this article was something we all know here - that life can be tough if you're not financially literate.
__________________
Contentedly ER, with 3 furry friends (now, sadly, 1).
Planning my escape to the wide open spaces in my campervan (with my remaining kitty, of course!)
On a mission to become the world's second most boring man.
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09-29-2017, 12:49 PM
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#5
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Full time employment: Posting here.
Join Date: Mar 2017
Posts: 629
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Quote:
Originally Posted by ExFlyBoy5
I read about 2 sentences and realized that this is a story that has been repeated over and over and over and over.
Edit...and the political slant of the article is well...that can't be discussed here.
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Agreed....I quit reading when I got to this:
Quote:
Fundamental changes in the U.S. retirement system have shifted responsibility for saving from the employer to the worker
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like this is a bad thing. Being responsible for ourselves? Unheard of!
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09-29-2017, 12:55 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Jul 2011
Location: Bernalillo, NM
Posts: 2,717
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Quote:
Originally Posted by Major Tom
Oh, this is an article about older folk who are struggling to make ends meet! Sorry - I was waylaid by the cool photo! A brief synopsis of the article accompanied, perhaps, by your own opinions, would have been nice.
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Sorry about forgetting a synopsis, I like it when people include that also. I am flabbergasted that this same type story keeps getting rehashed every so often. And these type stories are just going to keep coming and coming, as the boomers (I'm one) age out.
This type of thing is one reason DW and I don't like saying we are retired.
__________________
"We live the lives we lead because of the thoughts we think" ...Michael O’Neill
"We can cannot compel others to do our will" ....Norman Goldman
"There never is shortage of the gullible to accept the illogical"...Anonymous
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09-29-2017, 12:56 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Jul 2015
Location: Beaverton
Posts: 1,382
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Read some of the online comments. Very telling.
__________________
Jump in, the water's warm.
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09-29-2017, 12:57 PM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2013
Location: ATL --> Flyover Country
Posts: 6,649
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Quote:
Originally Posted by Bir48die
Read some of the online comments. Very telling.
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OH NO!!! That is a TERRIBLE idea!
__________________
FIRE'd in 2014 @ 40 Years Old
Professional Retiree
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09-29-2017, 12:58 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Mar 2017
Location: New York City
Posts: 2,838
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Wow, I got the headline, then I got "keep reading for a $1".
I'll take the above posters word for it, its an article I could live without spending a buck.
__________________
Withdrawal Rate currently zero, Pension 137 % of our spending, Wasted 5 years of my prime working extra for a safe withdrawal rate. I can live like a King for a year, or a Prince for the rest of my life. I will stay on topic, I will stay on topic, I will stay on topic
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09-29-2017, 01:04 PM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2014
Posts: 7,057
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I thought it was sad.
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09-29-2017, 01:10 PM
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#11
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Thinks s/he gets paid by the post
Join Date: Jan 2013
Location: SoCal, Lausanne
Posts: 4,408
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This is a free country. People have a right to live beyond they means and not save anything for retirement. That was their choice. Those that lived responsibly and saved for a comfortable retirement should not feel any sympathy for them. Sure there are cases where some have health issues early in life that prevent them from working and saving. However, the vast majority are living well beyond their means. Just look at the cars that some people drive and the clothes they wear. If they want to spend money on image rather than a safety net, that is their choice. They don't deserve sympathy as they approach retirement age.
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09-29-2017, 01:14 PM
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#12
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Thinks s/he gets paid by the post
Join Date: Jul 2011
Location: Bernalillo, NM
Posts: 2,717
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Quote:
Originally Posted by Teacher Terry
I thought it was sad.
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It is sad. IIRC from past threads, this site is populated primarily by INTJ/INTP folks (including me) who by definition have difficulty with empathy, especially when most of us have planned and planned and planned to ensure funding in old age.
__________________
"We live the lives we lead because of the thoughts we think" ...Michael O’Neill
"We can cannot compel others to do our will" ....Norman Goldman
"There never is shortage of the gullible to accept the illogical"...Anonymous
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09-29-2017, 01:18 PM
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#13
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2011
Posts: 8,368
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Quote:
Originally Posted by Blue Collar Guy
Wow, I got the headline, then I got "keep reading for a $1".
I'll take the above posters word for it, its an article I could live without spending a buck.
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+1
__________________
"Exit, pursued by a bear."
The Winter's Tale, William Shakespeare
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09-29-2017, 01:21 PM
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#14
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Thinks s/he gets paid by the post
Join Date: Jun 2013
Posts: 1,561
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Paragraph 5
"And at a time when 10,000 baby boomers are turning 65 every day, Social Security benefits have lost about a third of their purchasing power since 2000"
Yet every month, a certain entity tells us there's no inflation. LOL
As for the rest of the article, I can't comment any further because I would get too
P _ _ _ T _ _ _ L
__________________
"No beast so fierce but knows some touch of pity, but I know none, therefore am no beast"
Shown @ The End Of The Movie 'Runaway Train'
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09-29-2017, 01:23 PM
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#15
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Thinks s/he gets paid by the post
Join Date: Jun 2013
Posts: 1,561
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Quote:
Originally Posted by Freedom56
This is a free country. People have a right to live beyond they means and not save anything for retirement. That was their choice. Those that lived responsibly and saved for a comfortable retirement should not feel any sympathy for them. Sure there are cases where some have health issues early in life that prevent them from working and saving. However, the vast majority are living well beyond their means. Just look at the cars that some people drive and the clothes they wear. If they want to spend money on image rather than a safety net, that is their choice. They don't deserve sympathy as they approach retirement age.
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Well done Freedom!
__________________
"No beast so fierce but knows some touch of pity, but I know none, therefore am no beast"
Shown @ The End Of The Movie 'Runaway Train'
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09-29-2017, 01:30 PM
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#16
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2014
Posts: 7,057
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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.
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09-29-2017, 01:37 PM
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#17
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gone traveling
Join Date: Oct 2016
Posts: 255
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Quote:
Originally Posted by ownyourfuture
As for the rest of the article, I can't comment any further because I would get too
P _ _ _ T _ _ _ L
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plentiful? piratical? polytonal? practical?
As others have noted, we've heard this story many times over. My question is, what will it mean? As more and more boomers reach retirement age, without the means to retire, what happens?
If they all stay working, will there be enough jobs for the next generation?
If they don't earn enough to support themselves, or become too ill/feeble to support themselves, who will support them; where will the money come from? More government borrowing? Higher taxes? Reduced benefits for (or increased taxes on) those that don't need much extra for retirement, because they were foolish enough to save up a nest egg over the course of their working years?
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09-29-2017, 01:43 PM
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#18
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Thinks s/he gets paid by the post
Join Date: Mar 2009
Posts: 2,985
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Without reading the article I felt sorry for the people described. However after taking the time to read the link I'm not so sympathetic. From my life experience they made their decisions, worked at their own business, lifestyle choices etc. Give me a break.
Like many here I endured an endless amount of BS in the corporate world for 36 years. Sucked it up and moved on while the kids were young, keeping a job was of paramount importance. While we took vacations it was always on a budget. It's still a game we play to see who can get the best hotels at the best rates. If I decided to go full time RVing like the article's subjects I would expect HIGHER not lower expenses.
And I've been at a laundromat more than once in the last year.
__________________
Took SS at 62 and hope I live long enough to regret the decision.
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09-29-2017, 01:47 PM
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#19
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2014
Posts: 7,057
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Older people that I know without a lot of $ have moved into senior housing and they pay 30% of their income for rent. They don't have cars, take vacations or go out much. The apartment complex has a lot of free events. They also have a group that plays cards regularly, etc. That sounds better to me then living in an RV and scrubbing toilets. Luckily we won't be in either group unless something catastrophic happens.
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09-29-2017, 01:50 PM
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#20
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2014
Posts: 7,057
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2 years ago we met some retirees that lived in their RV's and they had lower expenses because they would spend 6 months in one location and rent by the month. They would go places where they did not need either air or heat depending on the season. The people we met were pretty happy with the lifestyle and were not working. They had sold their homes.
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