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02-22-2012, 05:47 AM
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#1
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Dryer sheet aficionado
Join Date: Apr 2004
Posts: 44
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Work til you drop
Old news around here, but boomers are beginning to realise they can never retire.
FTA:
"My advice is above all don't retire," he says. "If you like your job at all, hold onto it. Because getting (it) back in in this era is essentially impossible."
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02-22-2012, 07:12 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: Aug 2011
Location: West of the Mississippi
Posts: 17,134
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Glad to have read the article. Once again it makes me think that we should provide a phase-out period for older workers. Allow some part-time work for 5-10 years. This would help older people handle the economics of retirement and open some jobs for younger people. My 2 cents.
__________________
Comparison is the thief of joy
The worst decisions are usually made in times of anger and impatience.
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02-23-2012, 09:36 AM
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#3
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Thinks s/he gets paid by the post
Join Date: Dec 2009
Location: Alberta/Ontario/ Arizona
Posts: 3,393
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I read a report today that stated that one third of all job growth in Canada since the recession is due to people 60 and over. People 60 and over represent about 8% of all workers. Seems surprising to me.
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02-23-2012, 10:08 AM
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#4
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Thinks s/he gets paid by the post
Join Date: Mar 2007
Posts: 1,854
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If you enjoy working, go for it. I specifically planned from age 24 to someday be able to choose whether I wanted to work.....and I'm nearly there now. I probably will work at something, which is why I call it "rehirement", but it will be fewer hours, much lower stress, and not in the current field I'm in (corporate finance).
It will be nice to have the option!
__________________
"Live every day as if it were your last, and one day you'll be right" - unknown
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02-23-2012, 10:29 AM
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#5
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Recycles dryer sheets
Join Date: Sep 2008
Posts: 169
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Articles like this just make me shake my head. They focus on making more and spending more. That mentality is driving overconsumption, poor health and broad dissatisfaction in the USA. The question should be "How much is enough?".
Unfortuntely, cutting back never lined the pockets of financial analysts, brokers, etc. So it very rarely gets any consideration.
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02-23-2012, 10:33 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Jul 2009
Posts: 1,934
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I just don't get it. Telling most people to just keep working is like telling a half-dead pack mule, "It's okay. Just keep walking."
I've never understood this kind of "advice."
__________________
And if I claim to be a wise man, it surely means that I don't know.
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02-23-2012, 12:08 PM
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#7
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Full time employment: Posting here.
Join Date: Dec 2005
Posts: 567
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I am almost 64 and think every day about when to retire. My job is ok 10 months a year and the benefits are really good. I have about enough saved to retire but giving up the paycheck will limit my spending in retirement.
Yesterday I got diabetes and my health insurance paid 100% of the medicine and I had only a 30 co pay for the office visit. I think it will pay for testing equipment too.
I have 192 hours sick pay so can go to doctors on company time and dietitian classes.
I could quit and get Cobra but that is 800 a month or more. Medicare will start in 14 months if unemployed but having great insurance is better.
I can earn over 70K on this job, have hundreds of hours of vacations and sick leave or quit and live on my life savings and SS. Every year I work gets me an extra 100 a month or more for life. If I quit I have more time to eat so working is probably better for my health.
I might work until I am 65 but maybe 66 or even 67 so I can retire with more money.
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