Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 07-09-2014, 07:27 AM   #41
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Rocky Inlets
Posts: 24,455
Quote:
Originally Posted by REWahoo View Post
Boomers blowing their kid's inheritances out the tailpipe.
Doesn't bother me any. I'm happy to see the RVs and the auto carriers in full force on the highways. Same with all the freight train traffic here in the Chicago area. Besides, it's better for the grandkids - more job openings.
__________________

__________________
MichaelB is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 07-09-2014, 07:48 AM   #42
Thinks s/he gets paid by the post
2B's Avatar
 
Join Date: Mar 2006
Location: Houston
Posts: 4,330
Quote:
Originally Posted by REWahoo View Post
+1

In the spring our grandsons were playing in a baseball tournament in Houston. We wanted to take our RV over for the weekend but couldn't find a vacancy at any RV park in the area. I checked every park within a 20 mile radius of the tournament and they were all booked - not just for the weekend, but for the remainder of 2014...
Every time I see one of the heart jerk news stories about someone not being able to find a job I just want to reach out and slap them. If you don't have a job in Houston, it's because you don't want one.
__________________

__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
2B is offline   Reply With Quote
Old 07-09-2014, 09:01 AM   #43
Thinks s/he gets paid by the post
Jay_Gatsby's Avatar
 
Join Date: Oct 2004
Posts: 1,719
Quote:
Originally Posted by 2B View Post
Every time I see one of the heart jerk news stories about someone not being able to find a job I just want to reach out and slap them. If you don't have a job in Houston, it's because you don't want one.
Not to derail the thread, but this is often the case in many areas of the country. If there isn't a job where you are, then MOVE where there are jobs.

As for the average age of retirement, I agree that it likely crept upwards due to the recession and hesitancy on the part of Baby Boomers to retire (once bitten, twice shy). The problem, as others have pointed out, is that this creates a career ceiling for Gen X. This cascades down to Gen Y, which wants the jobs currently held by Gen X.

So what are Gen X and Gen Y to do? Many seem to be migrating to companies that aren't top-heavy with Baby Boomers, or in some cases, starting their own companies. This effect may be amplified in coming years by the portability of ACA healthcare insurance. This "road not taken" approach not only satisfies the career track advancement desired by Gen X and Y, but catapults them into positions and compensation they might never have received had they "waited their turn" behind Baby Boomers.
__________________
He had one of those rare smiles with a quality of eternal reassurance in it . . . It faced, or seemed to face, the whole external world for an instant and then concentrated on you with an irresistible prejudice in your favor. -- The Great Gatsby, F. Scott Fitzgerald
Jay_Gatsby is offline   Reply With Quote
Old 07-09-2014, 09:48 AM   #44
Thinks s/he gets paid by the post
Big_Hitter's Avatar
 
Join Date: May 2013
Location: In the fairway
Posts: 4,097
Quote:
Originally Posted by Jay_Gatsby View Post

So what are Gen X and Gen Y to do?
They will find it nearly impossible or extremely difficult to retire without defined benefit income. After the boomers retire, they will be in high demand and will be attracted to companies that offer rich defined benefit plans.

It is impossible in any other retirement design to make up for lost ground as quickly as can be done in a defined benefit plan.

Just my prediction...
__________________
Swing hard, look up
Big_Hitter is offline   Reply With Quote
Old 07-09-2014, 10:10 AM   #45
Thinks s/he gets paid by the post
38Chevy454's Avatar
 
Join Date: Sep 2013
Location: Cincinnati, OH
Posts: 1,584
Late to the party here, but I intend to at least offer my lower age contribution to beat the age 62 retirement by 10 years or possibly more.
__________________
After Monday & Tuesday even the calendar says, W-T-F...

Semi-Retired 7/1/16: working part-time (60%) for now [4/24/16 changed to 80%]
Retired Aug 2, 2017; age 53
38Chevy454 is offline   Reply With Quote
Old 07-09-2014, 10:15 AM   #46
Thinks s/he gets paid by the post
Big_Hitter's Avatar
 
Join Date: May 2013
Location: In the fairway
Posts: 4,097
At one point, my main goal in life was to be retired longer than I worked.

This requires two things, a long life span and an early retirement age.
__________________
Swing hard, look up
Big_Hitter is offline   Reply With Quote
Old 07-09-2014, 10:26 AM   #47
Moderator
Alan's Avatar
 
Join Date: Jul 2005
Location: Eee Bah Gum
Posts: 21,103
Quote:
Originally Posted by Big_Hitter View Post
ACA will absolutely put downward pressure on the average age of early retirements
+1
I would have retired 2 years either but took on a re-location to another State to work on projects until I qualified for retiree health insurance.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Now it's adventure before dementia
Alan is online now   Reply With Quote
Old 07-09-2014, 10:31 AM   #48
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 19,420
Geezers spending money is voluntary wealth redistribution. If they hoard money, then we would have to confiscate some via taxes, then it would not be fun for everybody. I have been doing my share to stimulate the construction business with projects on both my homes. Heh heh heh...
__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is offline   Reply With Quote
Old 07-09-2014, 11:18 AM   #49
Thinks s/he gets paid by the post
Jay_Gatsby's Avatar
 
Join Date: Oct 2004
Posts: 1,719
Quote:
Originally Posted by Big_Hitter View Post
They will find it nearly impossible or extremely difficult to retire without defined benefit income. After the boomers retire, they will be in high demand and will be attracted to companies that offer rich defined benefit plans.

It is impossible in any other retirement design to make up for lost ground as quickly as can be done in a defined benefit plan.

Just my prediction...
Somehow I doubt employers are going to offer defined benefit plans, having migrated away from them over the past 20+ years. That said, because Gen X is smaller than the Baby Boomers and Gen Y, there may very well be a shortage of employees with the requisite experience. This may lead to many employers offering healthier compensation packages for such workers.
__________________
He had one of those rare smiles with a quality of eternal reassurance in it . . . It faced, or seemed to face, the whole external world for an instant and then concentrated on you with an irresistible prejudice in your favor. -- The Great Gatsby, F. Scott Fitzgerald
Jay_Gatsby is offline   Reply With Quote
Old 07-09-2014, 11:35 AM   #50
Thinks s/he gets paid by the post
Big_Hitter's Avatar
 
Join Date: May 2013
Location: In the fairway
Posts: 4,097
If structured properly, DB plans can be a huge attraction/retention tool with little risk.

The 415b limit can be accrued over 10 years, the annual 415c limit is a pittance in comparison.

If I had my choice I would take tax-qualified deferred comp over straight income every time.
__________________

__________________
Swing hard, look up
Big_Hitter is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Rising stocks in retirement debate rages on! Focus FIRE and Money 3 12-09-2013 07:01 PM
average retirement age in US smjsl FIRE and Money 2 05-16-2013 06:32 PM
So, do you feel your age? Act your age? Like your age? vickko Life after FIRE 84 04-10-2010 02:47 PM
Is the Average Age of Widowhood 55? ZMAN Life after FIRE 21 04-10-2007 06:28 AM
more than average savings- average spending shorttimer Young Dreamers 23 11-04-2006 05:32 PM

 

 
All times are GMT -6. The time now is 02:41 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.