Global Attitudes about semi-retirement

[ESRBob]

HSBC just sponsored a big study on changing global attitudes about retirement, with a big chunk on working during retirement in flexible, low-stress rewarding jobs.

http://finance.yahoo.com/columnist/article/retirement/4433?p=1

This is focused on traditional retirees, but it could just as well apply to early retirees.

 

[Leonidas]

Interesting article. At the bottom a link to the HSCB Future of Retirement website which has a lot more information. Here's some stats I found interesting :

Who individuals think should bear most of the burden of supporting them in retirement (in percent)

Themselves - 43
Children/Family - 20
Employer - 5
Local or national government - 30

 

[SolidA]

What's with the Children/Family thing??!! I love my kids, but I don't expect them to take care of me in my dotage!

 

[audreyh1]

What's with the Children/Family thing??!!  I love my kids, but I don't expect them to take care of me in my dotage!

These are international attitudes. In many cultures children are expected to take care of their parents.

Audrey

 

[lazygood4nothinbum]

i always figured i owed mom at least the 18 years before she kicked me out of the house sent me to college. i've been caregiver now for about 12 years and she'll be passing on soon, dieing with credit due.

my ol'man once told me i could never repay my mother for all she's done for me. no doubt.

 

[Leonidas]

These are international attitudes. In many cultures children are expected to take care of their parents.

It was also an American thing as well. Doing family genealogical research and I discovered many cases of my ancestors who took in aging parents. They were all farmers and ranchers back then anyway (1700-early 1900's) and it was common that they all lived near each other or on the same land, and as the kids grew up they took over and as the parents aged they slowed down.

 

[astromeria]

My parents took care of my mother's parents, and my mother expects me to take care of her. She has resources (~$500,000 in investments, a house worth that much, and no debt), but I'm expected to manage her care (she has no LTCI) and make sure she remains comfortable and preferably in her home till the end. She built a house next door to us, so I feel a bit stuck here for a while (she's 80 and in very good health--active, alert, engaged in life--and her parents lived to 93). Fortunately one of my brothers also lives in our town, so I can travel as I wish (until DH retires, it's not really as much travel as I wish anyhow!). The funny thing is that I kinda ran away from home--never lived in the state of my birth or anywhere near my folks until recently. Doing my daughterly duty at last, or something.

 

[SolidA]

I would also (actually, am getting ready to) take care of my parents. My previous comment was just my thought that I, personally, don't EXPECT my kids to take care of me, and am trying to structure my portfolio and insurances so that they won't ever feel burdened by me. Does that make sense?

 

[lazygood4nothinbum]

solida, it makes perfect sense. i don't feel at all burdened by mom. i will have the rest of my life to see the world after she is gone. mom not only saw to her financial needs but also made certain my early retirement (though, being a workaholic, she'd freak if she knew i wasn't working already--i'm such a lazygood4nothinbum).

i wouldn't call my caring for mom an expectation. for us, this is simply what family does and i will miss her terribly when she is gone. in this end stage of alzheimer's, i miss her already.

for me with no children, i will make sure i am no burden on extended family. so for late in life by my side i'll keep a gun and save some cash.

 

[SolidA]

LG4NB- I am so sorry your mother has Alzeimers. My father is in the early stages of it. I am traveling with him tomorrow to go to Boston to see my oldest son (his oldest grandson) graduate from Boston College. He really wanted to go, and my DH has a conference in Michigan, so I suggested my dad come with me. It will probably be the last time we are able to do something like this, so there is a lot of sadness mixed in with the happiness my son made it through undergrad school. I am glad you don't think of her as a burden, but have the attitude"that's just what families do" - because that is my biggest fear, that someday I will be a burden. Your last sentence was a good one. In any event, I admire you and wish you much happiness and peace.

 

[macdaddy]

If my mom was unable to continue living on her own, but didn't quite need 24/7 professional care, I would be happy to move her into a room in my house... what's the big deal? She would get to know her grandkids better and I'd start getting my laundry done again.

 

[lazygood4nothinbum]

My father is in the early stages of it...It will probably be the last time we are able to do something like this, so there is a lot of sadness mixed in with the happiness my son made it through undergrad school. 

that's gr8 that grandpa gets to see the graduation. but don't be so sure that this is the last trip. we were able to keep mom in circulation very far into the progression of her disease. when it became a bit too much to travel alone with her friends, my brother's family & i would accompany her or we'd take turns. that lasted a few years. she only had to stop traveling in the last 3-4 years of a 12-13 year bout with alzheimer's. towards the end it got a little dicey but we managed and have wonderful memories from even this horrible experience.

yes, life is a box of chocolates. and sometimes they are all bittersweet. good luck to you, solida.

 

[Dreamer]

LG4NB,

You sound like a son that any mother would be proud to have as a son. What a great attitude! I wish you the best of luck.

Dreamer

 

[Billy]

I agree.

Your attitude, flexibility and devotion is commendable. I respect it and agree wholeheatedly with your priorities.

Best to you.

Akaisha
Author, The Adventurer's Guide to Early Retirement