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Old 03-07-2015, 12:20 PM   #21
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Originally Posted by rodi View Post
OP - how can you not have considered people retired on military pensions as part of the 57%? According to a previous post - you are in the military.
The military makes up less than 1% of the population and those who retire are a small fraction of that.
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Old 03-07-2015, 12:21 PM   #22
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Originally Posted by Major Tom View Post
You mean that you added 2 and 6, and got 8? (Sorry - couldn't resist).


Without any kind of quoted source, this doesn't mean a whole lot and, as others have said, what does the "dependent on government" part mean? I'm guessing it includes those claiming SS, but does it also include people who have substantial personal savings and investments, who are also claiming SS - like many of the people in this forum? It doesn't say, so how can we know?

Was this piece of unsupported "data" used to attempt to scare you into a career in real estate? About the 57% who are "dependant on family, friends or the government" - do you think we should inform them that they are not really retired? Will that figure include me in about 10 or 15 years when, after a 10-15 year period living entirely from my own savings and investments, I will begin claiming SS as well?

My apologies if this post seems a bit acidic, but I have a 9am appointment with my accountant. I'm currently nursing a cuppa joe, and questioning my seemingly endless desire to always book the first appointment of the day in order to "get things over with" .
No worries.

I have been an investor for the last 10 years or so and always looking to learn more. That's why I attended the class.
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Old 03-07-2015, 12:24 PM   #23
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No.


What was the point of the slide in a "real estate class"? Was someone telling you that you need a job that you could do part time after age 65? Or, were they somehow claiming that buying real estate will make you "independent" while buying stocks won't?

Most of the audience of about 30 people had never invested in real estate but about 5-8 had.

The first few hours the speaker just presented some ideas before getting into real estate.
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Old 03-07-2015, 01:39 PM   #24
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It's possible that 8% retire at 65 but I bet probably less. 6% at 64, 5.5% at 63, 5.2% at 62, and so on. I think the current average age of retirement is 61 or 62. Pretty ridiculous in my mind to consider people to be dependent on the government if they are using a government pension programme to which they contributed to for years.

They're just trying to sell something. Most (all?) of these seminars are best used for entertainment value only.
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Old 03-07-2015, 04:34 PM   #25
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I don't have anything to cite, but the " 6 % have died " by age 65 , I'm pretty sure that is way off, a swag would be like 20% so I would question the info they are presenting to you in this class.
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Old 03-07-2015, 05:12 PM   #26
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The military makes up less than 1% of the population and those who retire are a small fraction of that.
Is that a statistic (We all know about statistics...)
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Old 03-07-2015, 09:17 PM   #27
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Did you count all those exclamation marks! That's a dead giveaway to misleading statistics. Probably the hand of Rupert Murdoch.


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Old 03-08-2015, 06:34 AM   #28
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statistics can be skewed any way you want.

the funniest was we saw a anti drunk driving commercial. they said 45% of all accidents involve drinking or drugs.

i said to my wife ,see i knew it. it is actually safer to drive stoned , statistics prove it since the straight folks have 55% of the accidents.

i rarely pay attention to any statistic. insurers care about them . they can tell us how many will live and die each year.

but since they can't tell us who , we only have two outcomes . things work out or they don't.

in any case we still have to plan until 90-95 because it might be us.
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Old 03-08-2015, 09:07 AM   #29
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I don't have anything to cite, but the " 6 % have died " by age 65 , I'm pretty sure that is way off, a swag would be like 20% so I would question the info they are presenting to you in this class.
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* FWIW, according to the 2010 US Life Tables, 15% of newborns die before age 65, 13% of people age 35 die before 65, and 6% of people age 59 die before 65.
Is it true, only 8% Retire at age 65?
Products - Life Tables - Homepage
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Old 03-08-2015, 10:56 AM   #30
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My guess of 20% have died by age 65 is off , gov. says about 15% overall from the 2010 life tables.

http://www.cdc.gov/nchs/data/nvsr/nvsr63/nvsr63_07.pdf
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Old 03-08-2015, 11:17 AM   #31
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According to Gallup, the reality is that the average retirement age of Americans is 62.

I made it by age 61.5, whew! Just under the wire. But wait! The average retirement age in 2009, when I retired, was 60 instead of 62. So, I guess I was not actually an early retiree at all.

Anyway, as you can see from this graph from Gallup, people ARE having a hard time retiring as early as they once did, but the situation is not as dire as some might have us believe. I wish this graph was of medians instead of averages, but I think it gives us a general idea at least.
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Old 03-08-2015, 11:53 AM   #32
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Originally Posted by Lakewood90712 View Post
My guess of 20% have died by age 65 is off , gov. says about 15% overall from the 2010 life tables.



http://www.cdc.gov/nchs/data/nvsr/nvsr63/nvsr63_07.pdf

I could easily dismiss the life tables because I was born healthy, no genetic problems, and didn't do too many stupid male things that tend to kill us. Unfortunately now turning 50 the enviable reliability factor of the tables will be coming at me in full force. Just have to hope there is a chair under my rear every time the music stops from here on out.


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Old 03-08-2015, 12:11 PM   #33
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Sigh. I get so tired of the way statistics are used by people with agendas.
In general, the only people who will bother to come up with a statistical presentation have an agenda. Why else leave the hammock?

Ha
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Old 03-08-2015, 12:19 PM   #34
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I could easily dismiss the life tables because I was born healthy, no genetic problems, and didn't do too many stupid male things that tend to kill us. Unfortunately now turning 50 the enviable reliability factor of the tables will be coming at me in full force. Just have to hope there is a chair under my rear every time the music stops from here on out.


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Just get a sex change operation and you might immediately shift your curve up by several years. Chair found!

Ha
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