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The Case against Retirement
12-14-2009, 09:48 AM
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#1
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 4,391
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The Case against Retirement
Pontificate por favor:
The case against retirement - MSN Money
<Surveys show that a majority of baby boomers say they want to work during their golden years. They're going to get their wish. The key question is no longer "How early can I retire?" It's "Why retire?" >
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12-14-2009, 10:10 AM
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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: Jan 2007
Location: New Orleans
Posts: 47,500
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Now THERE's an article that's going to be popular on this forum! (not!!)
Obviously I think he is full of baloney. I love retired life so far, and see no reason to ever dislike being able to choose how I want to spend my time.
Sometimes I think that articles like this are a failed attempt to persuade baby boomers to never quit their jobs. Sorry! Ain't gonna work for me, and I am going to start getting (rather than contributing to) Social Security in a few years and I won't regret that for a moment.
__________________
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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12-14-2009, 10:23 AM
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#3
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Confused about dryer sheets
Join Date: May 2009
Location: Surprise
Posts: 2
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Articles like this is what discourages people from looking at inexpensive alternatives to retirement.
I would rather retire cheaply than continue to work...how about you?
I retired at 49, am now 64...still retired, by reducing my spending.
It hasn't been a lot of fun though...living on a sailboat, fulltime RVing, living in foreign countries.
When are folks going to wake up and make age the first thing to consider when retiring.
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12-14-2009, 10:43 AM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2005
Posts: 10,252
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Quote:
Originally Posted by shadowtime
When are folks going to wake up and make age the first thing to consider when retiring.
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As soon as they figure out they have enough money/investments to retire at that age and still cover their expenses and healthcare.
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12-14-2009, 11:06 AM
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#5
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Moderator Emeritus
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,873
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Quote:
Originally Posted by W2R
Now THERE's an article that's going to be popular on this forum! (not!!)
Obviously I think he is full of baloney...
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Yes, baloney. Oddly, I craved baloney recently and made a poor boy sandwich; that's as close to the working life as I care to get. I used to eat that on stressful work days.
Thanks for excerpting that, MB:
Quote:
...The key question is no longer "How early can I retire?" It's "Why retire?
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The real question is “Why read MSN Money?” I guess cuz the dog can’t shred an e-zine, we’ll have to do it here.
Welcome, Shawdowtime, great first post. May all those dull activities leave you a few moments to post here.
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12-14-2009, 11:07 AM
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#6
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Confused about dryer sheets
Join Date: May 2009
Location: Surprise
Posts: 2
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That is my point...why not look at ways of reducing expenses including healthcare.
If you do you may find yourself a lot closer to retirement than you think.
Focusing only only money and investments is not what retirement should be about.
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12-14-2009, 11:30 AM
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#7
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Moderator Emeritus
Join Date: Feb 2006
Location: San Francisco
Posts: 8,827
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There's really nothing "wrong" with people who can't retire early. People end up having to work into their 70s as a result of all kinds of circustances: bad luck, bad choices, bad circumstances, and sometimes excessive generosity to others. Preventable or not, it is what it is.
Maybe it's just the nature of my job, but I see too many people in financial (and other) misfortune every day for me to feel smug about their need to keep working. There's a story behind each one, often worth hearing.
Of course, then there are the idiots, but that's another thread .
__________________
Rich
San Francisco Area
ESR'd March 2010. FIRE'd January 2011.
As if you didn't know..If the above message contains medical content, it's NOT intended as advice, and may not be accurate, applicable or sufficient. Don't rely on it for any purpose. Consult your own doctor for all medical advice.
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12-14-2009, 11:36 AM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2006
Location: Collin County, TX
Posts: 9,296
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Quote:
Originally Posted by Rich_in_Tampa
Maybe it's just the nature of my job, but I see too many people in financial (and other) misfortune every day for me to feel smug about their need to keep working. There's a story behind each one, often worth hearing.
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Yeppers...or as I would say, "Walk a few miles in my boots..."
__________________
There's no need to complicate, our time is short..
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12-14-2009, 11:50 AM
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#9
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2009
Posts: 6,695
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Terrible article. What about people who (like me) had a lousy and long commute? Even working only 2 days a week in my last 17 months of working (2007-2008), the whole morning routine including the commute to work made me nauseous. I needed to end the misery which meant retiring (at age 45).
At my old company, I could cash out my company stock (worth about $300k) only if I stopped working there. For the last few years of working there, my only thought was "Why am I still working?" and not, "Why am I still working here?"
Once all the pieces fell into place with regard to my retirement income and expenses (i.e. affordable health insurance), I gave them my resignation.
Best move I ever made.
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12-14-2009, 12:20 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Jun 2002
Posts: 1,637
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<Surveys show that a majority of baby boomers say they want to work during their golden years. They're going to get their wish. The key question is no longer "How early can I retire?" It's "Why retire?" >[/QUOTE]
A lot of the article I've read about boomers who want to work in retirement are along these lines: So and so and his wife are really into wine, baking bread, books or whatever. So they want to cash out of the job with megacorp so they can turn their attention to a vineyard, bakery, independent book store or whatever. It's hard to tell from those articles if the folks really want to [I]work /I] per se or if they want to pursue an interest which is most logically pursued through a job.
__________________
friar1610
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12-14-2009, 12:23 PM
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#11
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gone traveling
Join Date: Apr 2009
Location: Eastern PA
Posts: 3,851
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Those who can retire, do.
Those who can't, either make excuses or write articles such as this, IMHO ...
BTW, I retired (maybe not early, but before the age of 60). I have no regrets and don't feel the loss of anything.
May others find themselves as contented as I am in my life...
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12-14-2009, 12:42 PM
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#12
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Thinks s/he gets paid by the post
Join Date: Oct 2006
Location: North-Central Illinois
Posts: 3,228
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OK....granted, there are those who will need to work past their normal retirement age due to their individual circumstances. That I understand and accept with no problem. There are also those who want to keep working for whatever reason....they like what they do, they do it to keep from getting bored, whatever. Again, I understand and accept that with no problem.
However....the author states:
Quote:
Surveys show that a majority of baby boomers say they want to work during their golden years. They're going to get their wish. The key question is no longer "How early can I retire?" It's "Why retire?" (emphasis added)
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......Ummmm, a majority wants to keep working??
I'd really like to read the wording of the questions on those surveys! I wonder if they were like, "When you reach retirement age would you want to eat out of dumpsters and live in a cardboard box, or would you want to continue working instead?" Because, and I may be totally wrong, I find it very difficult to believe that a majority want to keep working. In fact, in my own little realm of friends and acquaintances, I've found no one that wants to keep working...zilch...nada...zero!!!
Or maybe it's just that the author of the article doesn't grasp the difference between "want to" and "need to". Or perhaps I'm from another planet in another solar system and I just don't "get it"...or else maybe my thinking is warped and twisted beyond the acceptable limits when it comes to things related to retirement. (it's a 'given' that I'm warped & twisted in regards to most things anyway! )
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12-14-2009, 01:01 PM
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#13
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Moderator Emeritus
Join Date: Feb 2006
Location: San Francisco
Posts: 8,827
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Quote:
Originally Posted by Goonie
However....the author states:......Ummmm, a majority wants to keep working??
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Maybe he means that they want to keep working so they don't go bankrupt, i.e. they need to keep working. It really is vaguely written.
I guess the acid test would be to see what percentage of those who are truly FI choose to work for other reasons.
__________________
Rich
San Francisco Area
ESR'd March 2010. FIRE'd January 2011.
As if you didn't know..If the above message contains medical content, it's NOT intended as advice, and may not be accurate, applicable or sufficient. Don't rely on it for any purpose. Consult your own doctor for all medical advice.
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12-14-2009, 01:35 PM
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#14
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Thinks s/he gets paid by the post
Join Date: Oct 2006
Location: North-Central Illinois
Posts: 3,228
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Quote:
Originally Posted by Rich_in_Tampa
Maybe he means that they want to keep working so they don't go bankrupt, i.e. they need to keep working. It really is vaguely written.
I guess the acid test would be to see what percentage of those who are truly FI choose to work for other reasons.
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Yep, that's what I was thinking. It would have been better if he had clarified whether he actually meant "want" or if he really meant to say "need". Because I could understand if a majority had said they "need" to keep working, but not a majority saying they actually "want" to keep working. But, as it's written, it does give hope to those that "need" to keep working....it gives them the security of thinking that most everyone is in the same boat they are....even if it may possibly be a false hope and sense of security.
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12-14-2009, 01:46 PM
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#15
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Dryer sheet aficionado
Join Date: Sep 2009
Location: Columbus
Posts: 49
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IMHO - I think some of this "not wanting to retire" stuff is related to the sad fact that many of my generation are defined by their jobs. They have worked to advance in their companies and become so connected to their jobs that they have little interest and life outside of work. Long hours and constant demands (e-mail, mobile phones, etc) get you so involved in the corporate life that they have no relationships that aren't defined by their jobs. When they quit, they lose their "importance" in life. I feel sorry for them.
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12-14-2009, 01:47 PM
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#16
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Thinks s/he gets paid by the post
Join Date: Dec 2005
Location: Lake Livingston, Tx
Posts: 4,204
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This article is most likely right, as far as the numbers go, as to the necessity to work beyond 60/65, but I believe wrong in the desire to work. I do not doubt that when you take the people that have not LBYM and add to them the number who want to work in retirement that the majority of baby boomers will be working beyond 60. That is a different statement that the majority of baby boomers want to work beyond 60.
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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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12-14-2009, 02:11 PM
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#17
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
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Quote:
Originally Posted by SciFiFan53
IMHO - I think some of this "not wanting to retire" stuff is related to the sad fact that many of my generation are defined by their jobs. They have worked to advance in their companies and become so connected to their jobs that they have little interest and life outside of work. Long hours and constant demands (e-mail, mobile phones, etc) get you so involved in the corporate life that they have no relationships that aren't defined by their jobs. When they quit, they lose their "importance" in life. I feel sorry for them.
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I agree. When I was growing up, it seemed like people had a lot more hobbies and personal interests, even if it was just fishing or collecting stamps or coins.
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12-14-2009, 02:43 PM
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#18
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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I want to retire because it will keep me from going to jail for strangling idiots.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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12-14-2009, 02:58 PM
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#19
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Recycles dryer sheets
Join Date: Aug 2009
Location: Frederick
Posts: 333
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I know people who really do not want to retire. They are one of two types - they are incapable of making decisions and keeping themselves occupied and need someone to tell t hem what to do - or they have little interest outside of the job so they truly do not know what to do with themselves if they don't have the job.
They are not the majority. Not even close.
And then there are those who can't afford to.
__________________
I FIREd myself at start of 2010!
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12-14-2009, 03:13 PM
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#20
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Thinks s/he gets paid by the post
Join Date: Jul 2006
Posts: 1,901
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Great advice on how to make retirement more affordable.
Wait until your too old to do anything.
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“I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said” Alan Greenspan
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