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Re: Excellent Retirement Crisis Analysis
Old 06-02-2004, 10:24 AM   #21
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Re: Excellent Retirement Crisis Analysis

Do me a favor: don't bold my name or even use it if you can help yourself.

OK.

It was not my intent to disrupt this thread. I ask that everyone please return to the earlier discussion.
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Re: Excellent Retirement Crisis Analysis
Old 06-03-2004, 10:30 AM   #22
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Re: Excellent Retirement Crisis Analysis

Quote:

At least in my case (age 30), hell no! The boomers have been fools, IMO. Working like the company is your family, sacrificing what really matters in life (family, friends, community, etc.) for a promotion and some shiny consumer crap, then expecting to be taken care of by the rest of us? You guys are out of your minds. How about realistic lifestyles and a re-ordering of priorities?

I agree with you on the priorities issue. Without generalizing, and only speaking to my own experience, I have regrets about working so long and so hard. The upside is I have enough to retire on at about 50 years old. The downside is that I could die tomorrow and not have a chance to enjoy the retirement I worked and sacrificed for. The more moderate course might have been a job that didn't take so much sacrifice and which I could have enjoyed working at for years, if for less money. No one on their death bed ever wishes they had spent more time at work. (There--one generality for Galt).

Martha
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Re: Excellent Retirement Crisis Analysis
Old 06-03-2004, 02:54 PM   #23
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Re: Excellent Retirement Crisis Analysis

I often wished I could have spent more time at work or been able to be in two places at once. The space program had its periods of boredoom but also periods of 'fun and intense' activity.
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Re: Excellent Retirement Crisis Analysis
Old 07-25-2004, 06:53 PM   #24
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Re: Excellent Retirement Crisis Analysis

I'm surprised no one has mentioned what I've heard is a MUST READ paper for people concerned about the 'baby boomer' problem and the stock markets; "Demographics and Capital Market Returns" by Robert D. Arnott and Anne Casscells as published in the March/April 2003 issue of "Financial Analysts Journal". I've read it at least 3 times to absorb it all.

http://www.aimrpubs.org/faj/issues/v.../f0590020a.pdf

Its a 684kb pdf file, but it doesn't take all that long to download.
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Re: Excellent Retirement Crisis Analysis
Old 07-26-2004, 07:23 AM   #25
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Re: Excellent Retirement Crisis Analysis

Hmm, I read the first article posted on this thread and it didn't seem to have such dire conclusions as those being discussed here--actually, I'm in Europe right now and the US' problems regarding supporting an aging population that is not replacing itself is small compared to those in Europe.

I'm at the tail end of the baby-boomer generation - actually consider myself a 'tweener' (sandwiched between boomers and x-ers) - I don't use SS as a planning factor - if it is there - icing on the cake. But then I'm becoming much more libertarian in my views as I age.

Deserat
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Re: Excellent Retirement Crisis Analysis
Old 08-02-2004, 09:20 PM   #26
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Re: Excellent Retirement Crisis Analysis

It took me 49 years to realize that I was working way too hard. I have been walking a tightrope, trying to teach my daughter that working hard brings rewards, but working too hard just wears you out.

I still work hard, at times, but I work a lot less. She also has her father's example to follow. He works all the time, but doesn't make any money. . .

8)

Anne
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Re: Excellent Retirement Crisis Analysis
Old 08-02-2004, 11:46 PM   #27
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Re: Excellent Retirement Crisis Analysis

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*She also has her father's example to follow. *He works all the time, but doesn't make any money. . . Anne
A bad combination of circumstances in a spouse. I used to say to my wife, I wouldn't mind as much you never being available if you were a neurosurgeon, but this is just too much!

Mikey
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Re: Excellent Retirement Crisis Analysis
Old 08-03-2004, 10:17 PM   #28
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Re: Excellent Retirement Crisis Analysis

Mikey,

My thoughts exactly.

He worked as a contractor. I don't know how he managed to make so very little money. I finally talked him into going back into teaching shop. But then I dreaded the summer, when the money-draining "second job" would begin. I think when one is barely breaking even, it should probably be classified as a "hobby" instead of a business!

Good think he's teaching, now that I've divorced him.

Oh well, no bitterness! I was lucky enough to inherit some money so this isn't the impoverished life I was contemplating when I decided to divorce.

Anne
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Re: Excellent Retirement Crisis Analysis
Old 08-04-2004, 07:46 AM   #29
 
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Re: Excellent Retirement Crisis Analysis

I had the worst possible situation.
My former spouse
refused to work and spent money like Mike Tyson. My divorce was
absolutely necessary for me to ER. A sad tale but
true.

John Galt
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Re: Excellent Retirement Crisis Analysis
Old 08-04-2004, 09:12 AM   #30
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Re: Excellent Retirement Crisis Analysis

How is it that Mike Tyson slips into a great number of threads here?
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Re: Excellent Retirement Crisis Analysis
Old 08-04-2004, 09:56 AM   #31
 
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Re: Excellent Retirement Crisis Analysis

Re. Tyson, he is great example of what not to do with your life/finances. Other than that, you can't beat a good Tyson joke, not that I have a corner on the market.
It's so easy to come up with a punch line. Tyson jokes are really my favorite
sort of black humor. It's easy once you know the ropes.
Anyway, let's not fight about it, even if it's not your bag.

John Galt
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Re: Excellent Retirement Crisis Analysis
Old 08-04-2004, 10:27 AM   #32
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Re: Excellent Retirement Crisis Analysis

John Galt, those are some knockout puns. I love slap-stick humor. Bloody funny stuff, that. Good punchlines, too. Especially when you took a jab at Tyson. I practically bust my gut.
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Re: Excellent Retirement Crisis Analysis
Old 09-04-2004, 06:42 PM   #33
 
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Re: Excellent Retirement Crisis Analysis

Hi everyone,
Didn't feel like signing in under my name Liltime. Here's my two cents.
jkirzec: and everyone else. A must read is The Coming Generational Storm, a review is on the first page of retire early homepage. Full of stats but it is an easy read. Chapter 8 "Securing your Future" is good for all.
Speaking as a Generation Xer I would say that assumption is not correct, we are not willing to work hard. We want more of a balance between work/family/leisure. What seems to be a common theme with this generation which can be misinterpreted is that we don't feel as much loyalty to a particular employer, we are somewhat disenfranchised. I personally do not plan to work like a dog till I drop then pay a good chunk in taxes. In 13-15 years I plan to be out of the 9-5 salaried employee category and do some consultant work and have some passive income that is not taxed as highly. I hope others in my generation are paying attention or they will be in for a rude awakening. Higher taxes to pay for Social Security, Medicare, and Medicaid and very little benefit from Social Security by the time we retire, which is already up to age 67(full benefits) and I'm betting will be age 70 by the time I actually get there.
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Re: Excellent Retirement Crisis Analysis
Old 09-05-2004, 04:20 AM   #34
 
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Re: Excellent Retirement Crisis Analysis

Just remember Lili, Murphy was an optimist!

JOhn Galt
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Re: Excellent Retirement Crisis Analysis
Old 09-05-2004, 09:21 PM   #35
 
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Re: Excellent Retirement Crisis Analysis

hey john that sounds funny coming from you! I think i am pretty optimistic but I also like to look at facts. BTW after looking at scenario ER seems more realistic with other half ( recall subject Er plans derailed) DH who works for fed gov't (former jar-head) has defined pension benefit also adjusted to inflation to a degree would make ER possible in 10 years for me although I am younger and planning to re-enter workforce part-time after childcare leave. Calculating ER with only my income in mind although not impossible but not probable before 55. With 2 little ones there's always college, dance, soccer, music, art class etc..... You know!
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Re: Excellent Retirement Crisis Analysis
Old 09-06-2004, 06:22 AM   #36
 
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Re: Excellent Retirement Crisis Analysis

Yes, Lili I do know. I will be 60 on Friday (anyone
sending gifts should e-mail me for address) and am
still dealing with college expenses for my youngest.

John Galt
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Re: Excellent Retirement Crisis Analysis
Old 09-06-2004, 11:24 AM   #37
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Re: Excellent Retirement Crisis Analysis

John -

Regarding gifts, if we send you a small paper bag full of poo, will you be so kind as to put it on your front porch and light it on fire?
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Re: Excellent Retirement Crisis Analysis
Old 09-06-2004, 01:35 PM   #38
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Re: Excellent Retirement Crisis Analysis

John,

I'm sending you my "Kerry Kit," produced by Moveon.org, so that you can view the film and listen to the liberals and get a bumper sticker for your bike. Send address right away!

Anne
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Re: Excellent Retirement Crisis Analysis
Old 09-08-2004, 08:13 AM   #39
 
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Re: Excellent Retirement Crisis Analysis

Hey John an early Happy Birthday! So you survived the kids and made it to your 60th b-day. I can only imagine what's in store. My almost 6 year old is on the right track, she is interested in selling lemonade and some of her toys to earn money. I hope everyone reads the book, got my copy from the library. Too bad I spent the savings on Starbucks and lunch out.
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Re: Excellent Retirement Crisis Analysis
Old 09-08-2004, 08:47 AM   #40
 
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Re: Excellent Retirement Crisis Analysis

Thanks everyone! My wife bought me a king size bed
for my birthday (what a woman!).. I hope it's because
she thinks I'm a king and not in order to put some distance between us

By the way TH, someone actually delivered some "poo"
once. I didn't set it on fire though. I personally
returned it to the sender. It's a good story but I will
save for now.

John Galt
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