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One in four US employees expect to work past age 70
06-02-2016, 01:05 PM
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#1
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2013
Location: Les Bois
Posts: 5,761
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One in four US employees expect to work past age 70
"Despite an improvement in their financial situation and retirement confidence, roughly one in four U.S. employees believe they won’t be able to retire until after age 70, if at all, according to a survey by Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company. Additionally, nearly one-third (32%) anticipate retiring later than previously planned."
https://www.willistowerswatson.com/e...-beyond-age-70
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06-02-2016, 01:12 PM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2011
Posts: 8,362
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Quote:
Originally Posted by Big_Hitter
"Despite an improvement in their financial situation and retirement confidence, roughly one in four U.S. employees believe they won’t be able to retire until after age 70, if at all, according to a survey by Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company. Additionally, nearly one-third (32%) anticipate retiring later than previously planned."
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.........and every one else is here on this forum!
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Living well is the best revenge!
Retired @ 52 in 2005
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06-02-2016, 01:16 PM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2012
Posts: 6,129
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In related news, with an improvement in their financial situation and retirement confidence, roughly three in four U.S. employees believe they will be able to retire before age 70, according to a survey by Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company. Additionally, over two thirds (68%) anticipate retiring as previously planned or earlier.
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FIREd date: June 26, 2018 - "This Happy Feeling, Going Round and Round!" (GQ)
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06-02-2016, 01:50 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Mar 2014
Location: Southern Cal
Posts: 4,032
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Maybe they should live in a Toyota 4Runner and blog their way to retirement. Some 30s something already is doing that.
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06-02-2016, 01:56 PM
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#5
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Moderator Emeritus
Join Date: Apr 2011
Location: Conroe, Texas
Posts: 18,645
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Quote:
Originally Posted by Fedup
Maybe they should live in a Toyota 4Runner and blog their way to retirement. Some 30s something already is doing that.
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RV's and campers are pretty cheap these days for those who wish to live a bit on the edge:
GMC Other GMC | eBay
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*********Go Astros!*********
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06-02-2016, 01:59 PM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2016
Posts: 8,968
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Yes, bad news is good and good news is bad. I dunno.
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06-02-2016, 02:26 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Mar 2014
Location: Southern Cal
Posts: 4,032
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Quote:
Originally Posted by aja8888
RV's and campers are pretty cheap these days for those who wish to live a bit on the edge:
GMC Other GMC | eBay
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I was looking to buy one but never saw one that cheap. Does it actually work, I wonder? Even just renting for a day would cost $300 from my research. At that rate, I check into a hotel.
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06-02-2016, 02:48 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Jan 2011
Location: Fair Lawn
Posts: 2,940
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06-02-2016, 03:42 PM
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#9
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,473
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Quote:
Originally Posted by Big_Hitter
"roughly one in four U.S. employees believe they won’t be able to retire until after age 70, if at all
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In the year 2000 I thought I'd be lucky if I could retire by age 90.
I retired in 2009 at age 61.
I think many people (particularly late planners like me) are pessimistic about when they will retire. This is part of how we get motivated to shift LBYM and retirement planning into high gear and hit it with all we've got.
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Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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06-02-2016, 03:43 PM
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#10
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Full time employment: Posting here.
Join Date: Jul 2013
Posts: 953
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Quote:
Originally Posted by aja8888
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Maybe we should put the band back together, gather up some groupies, and hit the road!
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06-02-2016, 03:46 PM
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#11
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2016
Posts: 8,968
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When I retired everyone at the Co was shocked. I guess nobody ever retired as young as I. And I wasn't that young. I guess not many people think about it.
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06-02-2016, 04:18 PM
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#12
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gone traveling
Join Date: Sep 2013
Posts: 1,248
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Wait until they get fired or get sick. Then they will change their plans
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06-03-2016, 07:28 AM
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#13
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gone traveling
Join Date: Oct 2007
Posts: 1,135
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06-03-2016, 08:44 AM
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#14
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Thinks s/he gets paid by the post
Join Date: Dec 2005
Location: Lake Livingston, Tx
Posts: 4,203
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Does it change anything if you say "75% of all Americans expect to be retired by age 70"
Doesn't sound so bad t me given that there is some percentage that will never retire, even if the could.
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If it is after 5:00 when I post I reserve the right to disavow anything I posted.
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06-03-2016, 11:17 AM
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#15
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Confused about dryer sheets
Join Date: Oct 2015
Posts: 9
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I believe the debt level most people carry is what makes them feel they need to work until 70. I read some figures the other day....it is truly astounding.
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06-03-2016, 12:11 PM
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#16
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,309
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If you never figured out how to live within your means and save with a regular paycheck, it probably seems impossible to survive on anything less than 100% of your income. OTOH those that practice LBYM can match or exceed their needs without W2 income. A guy from my former job called me to ask how I could do it and he was pleasantly surprised to learn that FICA and Medicare taxes would not apply to his retirement income.
Sent from my iPhone using Early Retirement Forum
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...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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06-03-2016, 05:48 PM
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#17
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Thinks s/he gets paid by the post
Join Date: Jan 2008
Posts: 1,495
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Quote:
Originally Posted by eta2020
Wait until they get fired or get sick. Then they will change their plans
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+1
The "one in four" are in for a rude awakening if you look at the (abysmal) statistics. Many won't make it to their sixties, let alone "after 70". This is why Scott Burns refers to one's fifties as the "fifties minefield", during which the high likelihood of a job loss or serious health condition obliterates the best laid plans.
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06-03-2016, 06:42 PM
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#18
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Thinks s/he gets paid by the post
Join Date: Jun 2014
Posts: 1,069
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Considering 2 in 4 people have below average intelligence, not bad.
Sent from my iPhone using Early Retirement Forum
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06-04-2016, 06:45 AM
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#19
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Thinks s/he gets paid by the post
Join Date: Mar 2015
Location: philly
Posts: 1,219
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Quote:
Originally Posted by jazz4cash
If you never figured out how to live within your means and save with a regular paycheck, it probably seems impossible to survive on anything less than 100% of your income. OTOH those that practice LBYM can match or exceed their needs without W2 income. A guy from my former job called me to ask how I could do it and he was pleasantly surprised to learn that FICA and Medicare taxes would not apply to his retirement income.
Sent from my iPhone using Early Retirement Forum
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Sometimes you do. I think a lot has to do with the type of personality one has.
When my mega Corp had a huge layoff May of 2014 a number of good friends where effected, a lot of them are doing GREAT. What they actually found was a lot of their living paycheck to paycheck was caught up in unnecessaries.
Now all got great severance packages but I am really Wowed by how many simplified their lives and are hanging in there.
One guy John downsized and is actually starting a non profit to help vets with ptsd. His son suffers from it.
Sent from my SPH-L710 using Early Retirement Forum mobile app
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My darling girl, when are you going to realize that being "normal" is not necessarily a virtue? it sometimes rather denotes a lack of courage~Aunt Francis
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06-04-2016, 09:11 AM
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#20
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Moderator
Join Date: Apr 2012
Location: San Diego
Posts: 14,169
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Quote:
Originally Posted by Rustic23
Doesn't sound so bad t me given that there is some percentage that will never retire, even if the could.
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True - my stepmom fits in this category. She's a PhD nurse educator. She was forced to retire (age limits at the university) 20 years ago. So she started teaching for a for profit university. When she stopped driving due to neuropathy she tried to retire again - but the university worked to find her a transportation service. Then they rolled out a whole new computer interface for the grade entry/etc... and she got frustrated learning the new system... so she retired again.... then they talked her into taking a few more courses...
She's 89 and still teaching nursing statistics online part time. (She learned the new system.) She's also still working as a graduate adviser, helping candidates with their thesis and dissertation preparation. She'll never retire and since there is a severe shortage of nursing instructors, she won't need to.
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Retired June 2014. No longer an enginerd - now I'm just a nerd.
micro pensions 6%, rental income 20%
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