LYBM, Retire w/ no Debt...Retirement still bites the dust

[Hydroman]

KXLY.com: News, Weather and Sports for Spokane, WA and Coeur d'Alene, ID | Retirees face hard choices with troubled economy

[dex]

Those articles don't do it for me.
"Gary Laursen retired debt free when he was 60"
Does the article say how old he is now?
Poor article overall.

Instead of faulting the stock market - should the fault be with the lack of X years of expenses in cash equivalents?

Is the lesson better cash flow planning?

The $10,440 increase in health ins is steep - not knowing his situation, it is difficult to know if it was a deal killer.

I can't wait to see my health ins cost increase after breaking my collar bone. Then again I am using the allowable 6 dr. visits in the plan.

[Notmuchlonger]

Time to go back to work Mr Gary Laursen. Maybe someone can pick up a brand new pontoon boat on the cheap. Wasnt it just over a year ago how people were worried about all the baby boomers retiring at once

[youbet]

Quote:

Originally Posted by dex Poor article overall.

I agree Dex. I read it top to bottom and came away with little knowledge as to what went wrong other than he lost his retiree health coverage.

It would be better if articles like this weren't published at all. It's just a stab at a little sensationalism with little detail on the real problems that sent Gary Laursen back to work.......

[fisherman]

Useless article with no relevant info. Just sensationalism. Why don't they write one about people who are still successfully retired and how they do it. They are plenty of people here to consider.

[Hydroman]

He is 62 now.There is a link to a video. It is a human interest story run by the local tv news. The article was just a synopsis.

[haha]

I think it is a good article. It is not supposed to be a textbook; and it is hardly sensationalistic. It's a human interest story of the type that most papers other than the NYT, WSJ and WP run all the time.

People don't have the attention span or interest to read much more. People on this board would really mess up a focus group, because we are not typical.

And when I think about it, a number of people on this board have returned to working, at least part time.

Ha

[ziggy29]

Quote:

Originally Posted by haha And when I think about it, a number of people on this board have returned to working, at least part time.

Which is something that makes it even worse for laid-off job seekers: retirees are also competing for jobs again, and those near retirement who might have otherwise retired in the last year may have looked at their last IRA statement and realized they can't retire and free up the job for someone else...

[guest]

Quote:

Originally Posted by ziggy29 Which is something that makes it even worse for laid-off job seekers: retirees are also competing for jobs again, and those near retirement who might have otherwise retired in the last year may have looked at their last IRA statement and realized they can't retire and free up the job for someone else...

Don't worry Zig.....I am gonna do my part to help out. It is the least I can do! (Retire 25 Dec08)

[ziggy29]

Quote:

Originally Posted by guest Don't worry Zig.....I am gonna do my part to help out. It is the least I can do! (Retire 25 Dec08)

Tell someone who has a good clerical/administrative job in my hometown to retire. We'd really like for my wife to find a job to have a backup paycheck and benefits if mine bites the dust...