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Old 03-06-2014, 10:08 AM   #21
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You are right on the aging bit. Most people don't realize that you can go down fast after 70. Some do well into their 80's but its the 7th decade that weeds out those with good genes and those not so good.

That's why I've decided on a 5% WR for when we are in our 60's. Can always throttle it down in our later years.
Several times on this forum I've mentioned a life-changing meeting I had with a fellow.

He asked how old I was and then he said: "So, you're 60. Do you realize that even if you live to be 90, you've only got 15 or 18 good summers left? After that, things start going downhill"

It really hit me upside the head!

My extremely young 87 yo mother is proof. Despite amazing health and vitality, she's slowed down and just doesn't want to do the things she used to.
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Old 03-06-2014, 10:27 AM   #22
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Last year I when traveling abroad I was talking to a fellow who was 72. He was active and healthy. He told me that in his experience just about everybody he knew, no matter how fit and otherwise healthy, slows down and does less in their 80's. That's why he and his younger bride (only 70) we're planning on traveling and being busy well into their 70's.
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Old 03-06-2014, 10:34 AM   #23
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Maybe that's the real reason he didn't hire me!
Did you stagger in, clutching a half-empty wine bottle? Those sorts of things are dead giveaways in job interviews, you know
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Old 03-06-2014, 01:07 PM   #24
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He asked how old I was and then he said: "So, you're 60. Do you realize that even if you live to be 90, you've only got 15 or 18 good summers left? After that, things start going downhill"

It really hit me upside the head!

My extremely young 87 yo mother is proof. Despite amazing health and vitality, she's slowed down and just doesn't want to do the things she used to.
My grandmother's cousin, who just turned 89 in October, mentioned something recently that was a bit of a wakeup call to me. She still has her wits about her and still drives, and likes to go out. But, she says there's nobody her age to hang out with anymore. She used to run one of those Red Hat Society groups, but gave it up because the membership started dropping off like flies.

At the Senior Citizens' groups, it's mainly people in their 60's or lower 70's. I sort of tend to group them all together as "old people", but, when you think about it, those other people are for the most part, young enough to be her kids. She goes out with some friends to a local restaurant that has live bands, but again, she says it's mainly the young-uns, in their 60's or early 70's.

She still has plenty of friends her own age who are still alive. Only problem is, they're either in old folks homes, or can't/won't leave their own homes anymore. Like my grandmother. She'll go out for doctor's appointments, maybe down to my Mom's once a year for Christmas, but that's about it.
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Old 03-06-2014, 04:50 PM   #25
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You are right on the aging bit. Most people don't realize that you can go down fast after 70. Some do well into their 80's but its the 7th decade that weeds out those with good genes and those not so good.

That's why I've decided on a 5% WR for when we are in our 60's. Can always throttle it down in our later years.
This is why I love the dialog on the Netflix series Derek when he is lamenting about turning 50:

"50 is young! Don't you know 50 is the new 40? 60 is the new 50 and 70 is the new 60"

"What about 80?" asks a octogenarian

"80 is still 80, you're *&**ed"

https://showyou.com/v/y-Bq34cZi7dJY/...d-uk-channel-4
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Old 03-06-2014, 05:41 PM   #26
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OK, so maybe half the country is living above their means? We have not raised our standard of living in two decades, choosing instead to bank the raises and bonuses. Maybe that's why we are retiring early.
I was always amazed at the number of people who had 35+ years in the Federal Government and under the CSRS pension plan who sweated about when they would get their first pension check. A lot of these people were GS-13s and up and had a working spouse.
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Old 03-06-2014, 06:46 PM   #27
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I was always amazed at the number of people who had 35+ years in the Federal Government and under the CSRS pension plan who sweated about when they would get their first pension check. A lot of these people were GS-13s and up and had a working spouse.
I'm assuming you are saying that they were worried about the time between their last paycheck and their first pension check.

Where I used to work, we switched from getting paid 2 times per month to getting paid every two weeks about 10 years ago. The way the calendar fell people had to go about 3 weeks between checks when the switch occurred. There was a huge panic. Lots of people worried they could not do it.
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Old 03-06-2014, 06:57 PM   #28
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The way the calendar fell people had to go about 3 weeks between checks when the switch occurred. There was a huge panic. Lots of people worried they could not do it.
Apparently that is very common, living paycheck-to-paycheck. At one place my older sister used to work if the Friday paychecks didn't come out before noon lots of people, many earning six-figure salaries, couldn't buy lunch.

And at my last job for reasons I've forgotten we didn't get paid on one Friday but did the following Monday. No biggie for most but I was amazed at the number of people freaking out how they were going to get through the weekend. One guy took out a payday loan!

I don't get it. What do these people do when the transmission falls out of the car or the washing machine croaks? Whip out the plastic I guess.
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Old 03-06-2014, 07:34 PM   #29
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................

........ What do these people do when the transmission falls out of the car or the washing machine croaks? ...........
Call one of us and give us a sob story.
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Old 03-06-2014, 09:15 PM   #30
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Not surprising given the growing income gap, the low savings rate, and the increase in consumer debt.
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Old 03-07-2014, 06:35 AM   #31
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I was always amazed at the number of people who had 35+ years in the Federal Government and under the CSRS pension plan who sweated about when they would get their first pension check. A lot of these people were GS-13s and up and had a working spouse.
I retired about two months ago...under FERS. There are several people where I work(ed) that are CSRS 13's and higher that are living paycheck to paycheck. Some 35+ years, too. Your observation is valid Helen. They are lucky to have a job because most of their job performance is below par, too.
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Old 03-07-2014, 07:54 AM   #32
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Last year I took a seasonal cashier job at a chain hobby store, just "for fun". I loved it - lots of chatter with customers about their projects, a big employee discount weekend, and I enjoyed just getting out of the house. Easy work & no stress when I left at the end of the day (usually 4 hour shifts). They asked me to stay on, but I decided not to because of some family health issues that popped up. I may do it again., but it's really nice to have the choice.

I know for a fact that I was just as fast as the 20 year-olds, and had some customers who told me they loved my attitude. One regular customer said I was the best cashier in the store, LOL. More than once, after ringing up a purchase, the customer changed the amount of cash she handed over and I had to figure out the change in my head. They laughed that I was able to figure it out, as many younger employees just can't do it. So yes, I think the older generation has a leg up for some of these jobs, if they want them!

On a side, perhaps political note, there is lots of talk here in Maryland and elsewhere (ex: fast food employees) about raising the minimum wage from $7.25 to $10.10 or more because "people can't live on minimum wage." I truly believe that some of them are shooting themselves in the foot, because if the minimum wage goes up that high, you might find more people like me finding it worthwhile to take that part time job. You'll get better workers, and some of the people who think they "deserve" more money for poor work will find themselves out on the street.
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Old 03-07-2014, 08:03 AM   #33
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Last year I took a seasonal cashier job at a chain hobby store, just "for fun". I loved it - lots of chatter with customers about their projects, a big employee discount weekend, and I enjoyed just getting out of the house.
A store like Hobby Town in Frederick? The first time I walked in there I said "Uh, oh, I could get in serious trouble in here!" and the guy at the register, about my age, laughed and said "That's what we want you to do."

I think it would be unwise for me to be exposed to all that constant temptation.
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Old 03-07-2014, 10:34 AM   #34
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I don't get it. What do these people do when the transmission falls out of the car or the washing machine croaks? Whip out the plastic I guess.
That gave me a bit of a flashback. My washing machine DID croak, in early 2009 around the bottom of the Great Recession. Oops, actually no, it was the dryer, now that I think about it. Even though I still had money, I was fretting more over the ~$200K I had "lost", plus the ~$12K I had just spent converting the house from oil heat to an all-electric heat pump (needed all new ductwork and new circuit breaker with upgraded amp service, so that's why it was so pricey).

Even though I'm in much better shape now than I was back then, I think I'd still fret a bit if the washer or dryer went down. Old habits die hard, I guess.
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Old 03-07-2014, 05:41 PM   #35
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Even though I'm in much better shape now than I was back then, I think I'd still fret a bit if the washer or dryer went down. Old habits die hard, I guess.
There is hope. The Internet is, among other things, a huge library of information. More than once I've found how to repair stuff that I was clueless about. Just this afternoon I was thinking we might have to replace a 12-year-old washing machine but 15 minutes of searching saved us much more than 15%. In short I'll be able to fix the washing machine for a grand total of $10.95 and about ten minutes of time.

The post about it is here: Your recent repair?
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Old 03-07-2014, 05:52 PM   #36
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Several times on this forum I've mentioned a life-changing meeting I had with a fellow.

He asked how old I was and then he said: "So, you're 60. Do you realize that even if you live to be 90, you've only got 15 or 18 good summers left? After that, things start going downhill"

It really hit me upside the head!

My extremely young 87 yo mother is proof. Despite amazing health and vitality, she's slowed down and just doesn't want to do the things she used to.
My sister's grand-MIL was a real goer into her 90s. You just never know...
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