Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Late retirement: expectations vs. reality
Old 02-05-2015, 12:24 PM   #1
Recycles dryer sheets
 
Join Date: Aug 2011
Posts: 89
Late retirement: expectations vs. reality

Very interesting study about the trend of planning for a late retirement vs. the reality (so far at least) that people are actually retiring earlier.

Health reasons (self or family member) and changes at work are the primary reasons while so many people ( about 50%) end up retiring earlier than they planned.

Much better to plan for an early retirement and keep open the possibility of delaying it if that is doable and desirable when you reach your planned age.

Details are here:Your Retirement Date: Expectation vs. Reality | Stites on Estates
__________________

__________________
boatfishandnature 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 02-05-2015, 12:45 PM   #2
Recycles dryer sheets
 
Join Date: Dec 2012
Posts: 221
Very interesting and somewhat alarming. I'm afraid of means testing in the future.
__________________

__________________
davismills is offline   Reply With Quote
Old 02-05-2015, 02:25 PM   #3
Recycles dryer sheets
Greencheese's Avatar
 
Join Date: Oct 2013
Posts: 261
Adding in higher social security ages don't help either
__________________
Greencheese is offline   Reply With Quote
Old 02-05-2015, 02:31 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2003
Location: Kansas City
Posts: 7,408
Canned at age 49. Given I(we) would have probably had to move to California or Florida to find work. Brutally downsizing budget to make ER work in New Orleans - worked well til Katrina.

One of the worst dark horse choices was Kansas.

heh heh heh - notice post Katrina - in KANSAS! - on a hill waay above the wide Missouri.

Don't tell anyone Kansas City is really a fun place to live. Who knew?
__________________
unclemick is offline   Reply With Quote
Old 02-05-2015, 02:36 PM   #5
Thinks s/he gets paid by the post
Big_Hitter's Avatar
 
Join Date: May 2013
Location: In the fairway
Posts: 4,092
thanks for the link - indeed, most early retirements are health related
__________________
Swing hard, look up
Big_Hitter is offline   Reply With Quote
Old 02-05-2015, 03:03 PM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2003
Location: Kansas City
Posts: 7,408
On the health thing my attitude changed in ER. Along with cutting expenses went on a diet and exercise regimen radically changing my working lifestyle.

heh heh heh - At least on a subconscious level I must have awakened to the relationship between unplanned early retirement and health.
__________________
unclemick is offline   Reply With Quote
Old 02-05-2015, 03:45 PM   #7
Moderator Emeritus
 
Join Date: Oct 2007
Posts: 4,929
Changes in health seem to be the biggest item to upset retirement plans. I suspect the second biggest would be suddenly losing that 'last job before retirement'. Hunting for work while in one's late 50s can be hard on the pre-retiree and on their portfolio.

Other externalities of low probability that might dink about eventual retirement income pale in comparison to loss of health, or job and portfolio. (AKA people worry about the wrong things. I blame cable TV news.)
__________________
M Paquette is offline   Reply With Quote
Old 02-05-2015, 04:35 PM   #8
Thinks s/he gets paid by the post
 
Join Date: Oct 2006
Posts: 3,811
Quote:
First, you should seek to fund your core (more basic) lifetime retirement needs by age 60. Savings from income earned after age 60 can fund “extras” such as travel, education funding for grandchildren, or philanthropy.

Second, decisions about paying for children’s college education shouldn’t rely on workforce participation after age 60.
Always good advice.
__________________

__________________
Independent 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
Troubleshooting under the burden of preconceived expectations Nords Other topics 20 02-07-2010 03:50 PM
Has 2008 adjusted your expectations for investments? soupcxan Young Dreamers 24 01-11-2009 10:49 PM
Semi-RE - did it meet your expectations? PBAT Life after FIRE 13 07-26-2007 10:48 PM
Christmastime and spending expectations free4now FIRE and Money 10 01-04-2007 02:53 PM
market expectations dory36 Other topics 8 03-17-2003 04:46 AM

 

 
All times are GMT -6. The time now is 03:54 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.