Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Retirement Doubt removed for many
Old 12-10-2011, 10:01 AM   #1
Thinks s/he gets paid by the post
Chuckanut's Avatar
 
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 2,740
Retirement Doubt removed for many

Here is an interesting article from the 12/9/11 WSJ:

Only Downside to Retirement: Not Getting There Soon Enough - Total Return - WSJ

This article, plus this week's trials and tribulations at work have me chomping at the bit to FIRE!!
__________________

__________________
The worst decisions are usually made in times of anger and impatience.

Always do your own due diligence, I make a lot of mistakes.
Chuckanut 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 12-10-2011, 10:18 AM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Midpack's Avatar
 
Join Date: Jan 2008
Location: Chicagoland
Posts: 8,537
Magic!
Quote:
What if they need help making ends meet in retirement? Only 14% of retirees said they would move into a more modest home, and only 15% said they would drive a less-expensive car. They were even less willing to give up dining out, entertainment and recreation, they survey found.
__________________

__________________
Nobody will look after your money/health/life better than you.

Retired Jun 2011 at age 57
Target AA: 55% equity funds / 40% bond funds / 5% cash
approx 20% SI (secure income, SS only)
Target WR: approx 2.5%
Midpack is offline   Reply With Quote
Old 12-10-2011, 10:27 AM   #3
Thinks s/he gets paid by the post
braumeister's Avatar
 
Join Date: Feb 2010
Posts: 3,177
Time to start increasing the allocation to lottery tickets?
__________________
braumeister is offline   Reply With Quote
Old 12-10-2011, 02:23 PM   #4
Thinks s/he gets paid by the post
Koolau's Avatar
 
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 1,741
Quote:
Originally Posted by Midpack View Post
Magic!
Yeah, I kinda wondered what they WOULD be willing to give up. Supplemental health insurance? Travel? Gifts (especially to kids/grandkids)?

I haven't decided yet what order of things I would sacrifice, but the ones listed in the article would probably be my first cut. I've actually built such potential "sacrifices" into my plan though I haven't ordered them - probably the "extra" car would go first. I'd be willing to do all those things to avoid the need to w*rk again - especially since I would never be able to earn the kind of money I did at Megacorp doing the very specialized w*rk I did. Any w*rk I do from now until final "graduation" I sincerely hope will be something I would do for free if I had to. W*rking for money doesn't interest me.

Very strange indeed. It makes me think that their "backup" would be to go back to w*rk. Bummer!! I wonder if they know how difficult it would be to find a j*b that would pay enough to cover those luxuries they are not willing to give up. I wonder if they realize that most "senior" j*bs pay very little (for the most part), leave them little time, leave them little energy, disrupt retirement in general. Maybe they STILL haven't learned even after 40 years of w*rk that time is the most precious possession.
__________________
Ko'olau's Law -

Anything which can be used can be misused. Anything which can be misused will be.
Koolau is offline   Reply With Quote
Old 12-10-2011, 03:43 PM   #5
Thinks s/he gets paid by the post
mickeyd's Avatar
 
Join Date: Apr 2004
Location: South Texas~29N/98W
Posts: 4,872
Quote:
Most retirees are pleased with their lives – and 77% say they are happier than when they were working,
Wow, they must have interviewed a bunch of you guys as I never got a call.
__________________
Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is offline   Reply With Quote
Old 12-10-2011, 03:49 PM   #6
Moderator
Alan's Avatar
 
Join Date: Jul 2005
Location: Houston
Posts: 14,814
Quote:
Originally Posted by mickeyd View Post
Wow, they must have interviewed a bunch of you guys as I never got a call.
Quote:
GfK Roper conducted 1,964 telephone interviews in October with adults who were at least 45 years old.
Not me, I gave up my landline when I ER'd
__________________
Retired in Jan, 2010 at 55
Now it's adventure before dementia
Alan is offline   Reply With Quote
Old 12-11-2011, 09:43 AM   #7
Thinks s/he gets paid by the post
Mulligan's Avatar
 
Join Date: May 2009
Posts: 3,219
Quote:
Originally Posted by Koolau

Yeah, I kinda wondered what they WOULD be willing to give up. Supplemental health insurance? Travel? Gifts (especially to kids/grandkids)?

I haven't decided yet what order of things I would sacrifice, but the ones listed in the article would probably be my first cut. I've actually built such potential "sacrifices" into my plan though I haven't ordered them - probably the "extra" car would go first. I'd be willing to do all those things to avoid the need to w*rk again - especially since I would never be able to earn the kind of money I did at Megacorp doing the very specialized w*rk I did. Any w*rk I do from now until final "graduation" I sincerely hope will be something I would do for free if I had to. W*rking for money doesn't interest me.

Very strange indeed. It makes me think that their "backup" would be to go back to w*rk. Bummer!! I wonder if they know how difficult it would be to find a j*b that would pay enough to cover those luxuries they are not willing to give up. I wonder if they realize that most "senior" j*bs pay very little (for the most part), leave them little time, leave them little energy, disrupt retirement in general. Maybe they STILL haven't learned even after 40 years of w*rk that time is the most precious possession.
If you have low income, and need the money part time jobs can help immensely Im sure. But in my case, I am realizing it just doesnt work math wise. My part-time jobs that I have done since retiring are low wage jobs, but are taxed at the 25 % rate, plus 6% state, plus SS around 4% (which I wont recieve) plus medicare 1.?%. So in reality for me, it really isnt worth the time to do them. Im just not quite at the point mentally where I want to be retired all 365 days a year yet.
__________________
Mulligan is offline   Reply With Quote
Old 12-11-2011, 11:42 AM   #8
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,320
Quote:
Most retirees are pleased with their lives – and 77% say they are happier than when they were working,
77% of the unhappy retires have already done something about it...
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 12-11-2011, 02:15 PM   #9
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 27,097
If 77% of retirees are happier than when they were working, then 23% say they were happier working. Hard to imagine. 5% I would believe, since I know there are some that just can't let go, but 23%?

This reminds me of that commercial, "Who would want more cash?" Only in this case, "Who wouldn't want more time?"

I wonder if some of those they interviewed were unemployed, and just claiming to be retired because they couldn't find a job.
__________________
“Knowing others is intelligence; knowing yourself is true wisdom. Mastering others is strength; mastering yourself is true power. If you realize that you have enough, you are truly rich.”
- - Lao-tzu
W2R is online now   Reply With Quote
Old 12-11-2011, 05:07 PM   #10
Thinks s/he gets paid by the post
mickeyd's Avatar
 
Join Date: Apr 2004
Location: South Texas~29N/98W
Posts: 4,872
Quote:
I wonder if some of those they interviewed were unemployed
Are not all retired folks unemployed?
__________________
Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is offline   Reply With Quote
Old 12-12-2011, 01:05 AM   #11
Thinks s/he gets paid by the post
kyounge1956's Avatar
 
Join Date: Sep 2008
Posts: 2,169
Quote:
Originally Posted by W2R View Post
If 77% of retirees are happier than when they were working, then 23% say they were happier working. Hard to imagine. 5% I would believe, since I know there are some that just can't let go, but 23%?

This reminds me of that commercial, "Who would want more cash?" Only in this case, "Who wouldn't want more time?"

I wonder if some of those they interviewed were unemployed, and just claiming to be retired because they couldn't find a job.
Maybe it is 77% happier retired, 3% happier working and 20% "about the same". I can imagine people saying "about the same" if they had to retire due to health problems or before they had planned to because of layoff, or the like.
__________________
kyounge1956 is offline   Reply With Quote
Old 12-12-2011, 06:35 AM   #12
gone traveling
 
Join Date: Apr 2009
Location: Eastern PA
Posts: 3,855
Quote:
Originally Posted by mickeyd View Post
Are not all retired folks unemployed?
Nope. Some (even on this forum) talk about "retirement jobs" - full or part-time.

It's a bit like being "a little pregnant". There is no such thing; either you are, or you are not ...

BTW, I'm neither pregnant nor have a retirement j*b
__________________
rescueme is offline   Reply With Quote
Old 12-12-2011, 07:54 AM   #13
Recycles dryer sheets
 
Join Date: Dec 2010
Location: Tequesta
Posts: 277
So what have you guys "given up"? I "gave up" the expensive car in anticipation of retiring; our business provides us leased cars and for years, I've had pretty expensive cars. The most recent one is a Subaru that the business is buying for me instead of leasing and I'll take it with me.

I'm still planning on going sort of part time next year to see how it goes. The other thing I would gladly "give up" is the house we've lived in for 20+ years and in which we raised 3 kids. The mortgage is low and almost paid off. The equity is at least $1,000,000. If we can afford it in retirement, we'll keep it, but if things ever get tight, even my dear wife agrees we will sell it and buy something much, much less expensive.

What else did you guys "give up"?
__________________
67walkon is offline   Reply With Quote
Old 12-12-2011, 08:10 AM   #14
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Midpack's Avatar
 
Join Date: Jan 2008
Location: Chicagoland
Posts: 8,537
Quote:
Originally Posted by 67walkon View Post
What else did you guys "give up"?
After 22 years, we gave up our sail boat. As much as we loved it, the expenses were just crazy. And I sailed last summer as much as ever, on OPB (other people's boats) - free!
__________________
Nobody will look after your money/health/life better than you.

Retired Jun 2011 at age 57
Target AA: 55% equity funds / 40% bond funds / 5% cash
approx 20% SI (secure income, SS only)
Target WR: approx 2.5%
Midpack is offline   Reply With Quote
Old 12-12-2011, 08:13 AM   #15
Moderator Emeritus
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 32,234
I gave up suits and ties...
__________________
Numbers is hard...



REWahoo is offline   Reply With Quote
Old 12-12-2011, 08:17 AM   #16
gone traveling
 
Join Date: Apr 2009
Location: Eastern PA
Posts: 3,855
Quote:
Originally Posted by 67walkon View Post
So what have you guys "given up"?
For us, nothing at all.

We planned to retire at 100% of our net income as of our last paycheck before retirement (considering future annual personal cost of living adjustements).

While we had a joint plan of retiring at age 59 (we're the same age), I did while DW is still employed (not emotionally ready).

I turn 64 in three weeks and our (financial) plan turned out better than expected. A great part of that is due to my DW's decision to continue to stayed employed (reduces withdrawls), but also decisions made after retirement related to purchase of an SPIA and delay of SS.

If we needed to "give up" anything, then we would have not retired. I'm sure we would have regretted reducing our lifestyle. Of course, that's just us and I'm sure there are many that would indeed sacrifice their standard of living to retire.
__________________
rescueme is offline   Reply With Quote
Old 12-12-2011, 08:26 AM   #17
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: I'm not sure anymore
Posts: 13,540
Quote:
Originally Posted by 67walkon View Post
What else did you guys "give up"?
Meetings.
__________________
Más sabe el diablo por viejo que por diablo
MichaelB is offline   Reply With Quote
Old 12-12-2011, 09:56 AM   #18
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 27,097
Quote:
Originally Posted by 67walkon View Post
What else did you guys "give up"?
Routinely getting up before dawn.

Oh, you meant as far as standard of living? Nothing. But, in a few years we might move to an area that has a lower cost of living, if we decide to get out of this hurricane prone, crime ridden city.

On the other hand, I would have been happy to give up something to retire; I just didn't have to do that. I wasn't willing to give up federal retiree health insurance, so I retired as soon as I qualified for it.
__________________
“Knowing others is intelligence; knowing yourself is true wisdom. Mastering others is strength; mastering yourself is true power. If you realize that you have enough, you are truly rich.”
- - Lao-tzu
W2R is online now   Reply With Quote
Old 12-12-2011, 10:07 AM   #19
Thinks s/he gets paid by the post
powerplay's Avatar
 
Join Date: Oct 2008
Posts: 1,010
Quote:
Originally Posted by 67walkon View Post
So what have you guys "given up"?
I gave up my j*b to retire. That should help the economy also since it opened up a j*b for someone else. Along with this I gave up the associated commuting in rush hour traffic and going to meetings.

With respect to my lifestyle, I haven't had to give up anything yet. If it is necessary to cut back at some point I would probably downsize to only one vehicle (currently have 2) and look at other smaller cuts I could make in my budget.
__________________
powerplay is offline   Reply With Quote
Old 12-12-2011, 10:15 AM   #20
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 7,777
Quote:
Originally Posted by Midpack View Post
After 22 years, we gave up our sail boat. As much as we loved it, the expenses were just crazy. And I sailed last summer as much as ever, on OPB (other people's boats) - free!
We gave up our sailboat too! But that was mostly because we started traveling a lot more and weren't home as much to sail. Plus it turned out that sailing was a major stress reliever while I was working, and that stress disappeared!

Sailing on OPBs is a brilliant strategy IMO!, and easy to do when you and the friends and are already plugged into the sailing network.

Audrey
__________________

__________________
Life After FIRE - we redesign it every 5 years!
audreyh1 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


Similar Threads
Thread Thread Starter Forum Replies Last Post
25% plan to delay retirement until 80 JustCurious Other topics 21 11-17-2011 05:44 PM
GAO Report on Retirement Income Purron FIRE and Money 5 07-17-2011 02:27 PM
Mid 40's looking for soft retirement in 8yrs, 9 months and 23 days sspribyl Hi, I am... 0 07-17-2011 12:34 PM

 

 
All times are GMT -6. The time now is 11:44 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2014, vBulletin Solutions, Inc.

Early Retirement News right to your Email!

Stay up-to-date with all the latest news to your inbox!

unsusbcribe at anytime with one click

Close [X]