Poll:It shows Americans want to stay working

[street]

I hadnt seen this recent poll posted here but found it numbers/Percentages interesting. My thinking is why most want to stay on the job that long. It maybe because they want to and have plenty of money or have too.
https://www.apnews.com/e38b971fb04942eab297ffc9fa7f8d01

 

[Teacher Terry]

The problem is you just don’t know when you will have to retire due to illness, age discrimination, caregiving, etc. Unless poor everyone should be putting money aside for retirement.

 

[Bamaman]

I too have wondered about all the talk about working later in life. Although I grew up in very middle class surroundings, very few people here have worked past 60 or 61. I only know one person from my high school working at age 68.

I retired at 58 1/2, and never regretted a minute about leaving early. We just have so many days on this earth.

 

[Teacher Terry]

My MIL worked until 65 for a bigger SS. A day later she almost dies when her colon twists. Survived the surgery and took her 2 years to feel well enough to travel. Books a cruise with friends and her colon twists again and she didn’t survive. Never got to do any traveling.

 

[HI Bill]

My MIL worked until 65 for a bigger SS. A day later she almost dies when her colon twists. Survived the surgery and took her 2 years to feel well enough to travel. Books a cruise with friends and her colon twists again and she didn’t survive. Never got to do any traveling.

So sorry.

 

[Teacher Terry]

Thanks Bill, she was a wonderful person and never got to enjoy her retirement.

 

[Souschef]

My MIL worked until 65 for a bigger SS. A day later she almost dies when her colon twists. Survived the surgery and took her 2 years to feel well enough to travel. Books a cruise with friends and her colon twists again and she didn’t survive. Never got to do any traveling.

So sorry to hear that, TT. You just never know.
Years ago my MIL was at a convention when a relative died, so they had to keep her until they returned. She told me and my late wife that she did not want us traveling until after she died for the same reason.

Needless to say, we did not heed her. After she passed away, I showed my wife a list of the things we would have missed if we did not travel.

 

[daylatedollarshort]

I hadnt seen this recent poll posted here but found it numbers/Percentages interesting. My thinking is why most want to stay on the job that long. It maybe because they want to and have plenty of money or have too.
https://www.apnews.com/e38b971fb04942eab297ffc9fa7f8d01

Stockholm syndrome?

 

[NW-Bound]

Two lines in the above article sum it up.

According to government data, about 1 in 5 people 65 and older was working or actively looking for a job in June.

For many, money has a lot to do with the decision to keep working.

 

[Winemaker]

DD worked an additional year to 66 in order to take advantage of retiring with a new union contract. He was diagnosed with leukemia a few months later, and he passed at 70. Much too young, but he gave it one hell of a fight. It's been 14 years now.

 

[ckelly78z]

I had fully planned on working until 62, and taking SS, and my 28 year pension early. The major wildcard that I was facing is health care for DW, and I for 3 years until medicare hit (I have alot of pre-existing conditions, and continuing health concerns).

My new plan is still to go "early" at 64, and pay for 1 year of COBRA, before qualifying for medicare. This will also give me a much larger SS, and a 30 year pension, on top of two more years of 401K growth.

I can't imagine a scenario where I will be seeking work after 64 years old.

 

[street]

"For many, money has a lot to do with the decision to keep working".

^ this is true in most cases, I would believe. The question is are they working longer because they need too, or because they want more but could RE?

 

[NW-Bound]

... are they working longer because they need too, or because they want more but could RE?

Hard to say. If people knew the risk of deteriorating health, they would make do with whatever they had.

I believe people's expenses are quite elastic. Some think that they absolutely must spend $100K/year or their life would be miserable, but in war or even personal disasters we have seen people falling into dire straits and yet they survive. They did not go jump off a bridge or a cliff.

Hence, I have often said that life in a van down by the river would not scare me. Of course, I would rather not.

 

[Teacher Terry]

Sous, that’s a odd request your MIL made and I would have ignored it too.

 

[street]

Hard to say. If people knew the risk of deteriorating health, they would make do with whatever they had.

I believe people's expenses are quite elastic. Some think that they absolutely must spend $100K/year or their life would be miserable, but in war or even personal disasters we have seen people falling into dire straits and yet they survive. They did not go jump off a bridge or a cliff.

Hence, I have often said that life in a van down by the river would not scare me. Of course, I would rather not.

True!
I also could live down by the river in a van, but would rather not. Lol I like that and agree. I rough it at the ranch and I enjoy that life style but I also wouldn't want to live that way each day. A lot of work just to survive, and always glad to get back to the worlds conveniences.

 

[ExFlyBoy5]

This quote summarized it well for me...

“Sometimes I fantasize that if I win the lottery, I’d go back to New York,” says Bennett

That is not a very good plan.

 

[kimcdougc]

I could live by the river in my rv. All the conveniences of home. Truck, rv all paid for so could do if we had to. Like you all, I'd rather not.

 

[Chuckanut]

Almost ten years ago, I would have answered the question in away indicating that I would continue to work until I reached my SS full retirement age of 66, at least.

But.....

1.) I lost several good friends and a very close relative to various disease in their 50's and early 60's. This alone could have pushed me over the edge to retirement.

2.) Work became increasingly a negative experience. Not the teaching, but the pressure surrounding it. I won't go into various teaching war stories but among the factors were a 'kick ass and take names' administrator, lack of proper equipment and adequate physical space to teach several classes that were assigned to me, lack of training in subject areas I had no experience teaching, and poor support in regards to maintaining discipline in the classroom.

So, once I figured out how to cover health care before I was eligible for Medicare, I was gone.

 

[badatmath]

If I were only concerned about money I would leave today (not even close to rich). My real concern is insurance. ACA seems to be of poor quality in my state.

 

[AnonEMouse]

If I were only concerned about money I would leave today (not even close to rich). My real concern is insurance. ACA seems to be of poor quality in my state.

Well, that really is a money issue. Given enough money, healthcare is of no concern. You don't have to buy insurance on the ACA exchange. The question is can you afford it.