Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Yahoo story - media has it all wrong as usual
Old 07-23-2012, 07:38 PM   #1
Recycles dryer sheets
2035's Avatar
 
Join Date: Jan 2012
Posts: 214
Yahoo story - media has it all wrong as usual

I hope that I posted this correctly...as I'm on my phone.

This lady was living on her hubby's SS plus a "healthy nest egg of $120k" in her 60s and had to back to work after the downturn...duh! I'm not leaving until I have at minimum 15x my ending salary.


http://finance.yahoo.com/news/woman-...W9ucw--;_ylv=3
__________________

__________________
2035 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 07-23-2012, 11:12 PM   #2
Full time employment: Posting here.
flyfishnevada's Avatar
 
Join Date: Jan 2010
Location: Smith
Posts: 743
1. That article is in the dictionary next to the word "bias"

2. She did the only thing she could because her SS and 401K "wasn't quite enough"? If that's accurate, did she try reducing spending slightly?

3. "I'm happy being out of retirement and back to work", The woman is lying to herself.

4. "Eighty-six percent of workers in their 60s say they will work past age 65." Duh! Gee, 64 year old overwhelming might work until they are 66. Ask 50 year olds the same question.

I could go on.
__________________

__________________
Retired July 4th, 2010 at age 43
Trout Bum, Writer, Full-Time Dad and Husband


flyfishnevada is offline   Reply With Quote
Old 07-24-2012, 12:20 AM   #3
Thinks s/he gets paid by the post
Lakewood90712's Avatar
 
Join Date: Jul 2005
Posts: 1,316
"With a healthy $120,000 in her retirement account, she decided it was time to ride out her savings and leave her desk job behind."

120k A healty ballance at retirement ? WTF? Well good. Another one to keep paying into the social security system!
__________________
Lakewood90712 is offline   Reply With Quote
Old 07-24-2012, 01:13 AM   #4
Thinks s/he gets paid by the post
obgyn65's Avatar
 
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
I would not be so be so harsh. To those who earn the minimum wage, 120k is about 10 years of income. To them, 120k is very healthy.
Quote:
Originally Posted by Lakewood90712 View Post
"With a healthy $120,000 in her retirement account, she decided it was time to ride out her savings and leave her desk job behind."

120k A healty ballance at retirement ? WTF? Well good. Another one to keep paying into the social security system!
__________________
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
obgyn65 is offline   Reply With Quote
Old 07-24-2012, 02:04 AM   #5
Moderator
bssc's Avatar
 
Join Date: Dec 2005
Posts: 9,930
I liked

Quote:
A recent study showed evidence that early retirement could actually harm workers' health more than plugging away at a desk all day. Researchers estimated early retirees shave an average two months off their lives for every year they're out of the workforce.
Don't retire early, its for your own good.
__________________
Angels danced on the day that you were born.
bssc is online now   Reply With Quote
Old 07-24-2012, 04:50 AM   #6
Administrator
Gumby's Avatar
 
Join Date: Apr 2006
Posts: 10,147
Quote:
Originally Posted by bssc View Post
I liked



Don't retire early, its for your own good.
What a bunch of courageous souls we are here.
__________________
Living an analog life in the Digital Age.
Gumby is offline   Reply With Quote
Old 07-24-2012, 11:47 AM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
braumeister's Avatar
 
Join Date: Feb 2010
Location: Northern Kentucky
Posts: 8,610
Apparently, the cited "recent study" found this to be the major factor:

Quote:
changes in health-related behaviours associated with smoking, drinking, an unhealthy diet, and little physical exercise may cause premature death following early retirement. Our results strongly support this hypothesis.
Seems pretty much irrelevant to most posters here. The study looked at blue collar workers in Austria, and found the effect mainly for men, not women.
__________________
Pas de lieu Rhône que nous.
braumeister is offline   Reply With Quote
Old 07-24-2012, 03:52 PM   #8
Thinks s/he gets paid by the post
veremchuka's Avatar
 
Join Date: Oct 2010
Location: irradiated - too close to the nuclear furnace
Posts: 1,294
Quote:
Originally Posted by obgyn65 View Post
I would not be so be so harsh. To those who earn the minimum wage, 120k is about 10 years of income. To them, 120k is very healthy.
Well that may well be true but $120k is not an adequate nest egg unless that SS was pretty substantial or she has investments elsewhere or a nice pension, all of which seem unlikely from the tenor of the article.

For everyone the "number" varies but to me $120k is a pittance unless you are 85 and have 1 foot on a banana peel. Using the oft quoted 4% rule that gives you $4800 per year and I'm guessing she may have to pay taxes from a "retirement account" (401k or 403b) but even if there aren't taxes involved that's a tiny amount of money. I'm pretty frugal and I couldn't live off that but without knowing her SS amount or other sources of income it's hard to really say. Bottom line, I think she was not prepared to retire.
__________________

__________________
veremchuka is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


 

 
All times are GMT -6. The time now is 01:24 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.