Will baby boomers retire different from their parents

[johnbrady]

Interesting musings here. A common theme that rings true for me is the, shall we call it frugalness, of our forbears. Certainly that applies in the case of my parents, who were children of the depression. They had a comfortable lifestyle as young kids, and then in their teens the economic rug was pulled out.

Now they have plenty of resources. They live in a very middle class golf community in Ft. Myers, whereas they could live in a much nicer one. They won't by a new car, the old Park Avenue ('93 or so) runs great. Except of course when it's breaking down somewhere in the Florida traffic. Their latest adventure is buying stuff at the Goodwill. I have to admit some of is pretty nice, though.

Thanks for your thoughts on this. I can't imagine retiring to where my folks did. It seems too sterile and a little too boring. On the other hand, they love it. So Godbless.

[youbet]

Originally Posted by boomerbaby

On the other hand, they love it. So Godbless.

There ya go...... When your kids think that whatever you're doing for retirement is sick-o, dumb, boring or whatever, you can think back to your folks. They did what they wanted.....screw what the goofy kids think. And you'll smile and do what you want.

[LoveNumbers]

Great thread. Thanks for starting it.

My dad left his native land with only the clothes on his back. I was born into a great country with unlimited potentials. Material-wise I am doing much better. Money was tight but my five siblings and I were never hungry.

Will I retire any different than my dad? The money I made through out my career is probably 1000 times more than he ever did. But contentment is something I've yet to learn. My dad is still taking classes in the local college at age 90. If I ever learn to stop complaining about the social injustice, I'd have arrived.

Jenni

[renferme]

I Er'd at 57.5 ; my Dad retired at 62.
I was ready to retire and am happy, part-time fun job with the Pgh. Pirates.
My Dad moved from Pgh to Clearwater FL and was unhappy. He was tired of working,
but had no hobbies and nothing to do, was bored to death,,, and boredom nearly killed him. Took him 10 years to "learn how to retire".
I have a friend that ER'd about 6 months ago, he's coming back to the same job as a contractor... I suspect his "retirement" went something like my Dad's.
I guess if you ER - you'd better be prepared for it.... and not just financially.
The mental aspect is very important.

[excellent]

If the generations find satisfaction in their own unique ways then I don't see how their retirements are that disimilar. My father is content with wearing worn shoes, driving an old car, eating non-name brand foods from the market, and helping out in the community. My mother enjoys watching her children live life and gets satisfaction from many places such as church, friends, and the like. I think it's true that you learn frugality and the worth of a dollar largely from your parents. It took me a while to realize why my family lived we do when we could be "living" the life that others in their career fields choose (IE not LBYM and actually having many areas of debt), but I'm glad I learned it this early. I am actually kind of against all of the corporate overbearing forces in the world right now. Anyways, I plan to retire within 2 decades (Mid 30's or so) and I hope to find the same satisfaction from life that my parents have (Being able to do community works and be there for those in need full time would be awesome).
Sorry if it's off topic as I don't really fit into the right age bracket to even be in this thread but the stuff I wrote is just my opinion anyways...

[kumquat]

I expect my retirement (starting next year at 58) to be a lot different from my parents. They were the frugal LBYM types and my mother had a reasonable income, but when my father was my age he was already dead.

[Mr._johngalt]

Not quite a boomer here. I did notice that my gross income
in complete retirement is almost identical to my Dad's. His is SS
plus pension. Mine is SS plus bond interest. As I see it there are 3 reasons
I am able to continue to live on a "grander" scale:

1. My net worth is a lot higher.
2. I make the money I actually spend go further.
3. I don't plan to live to his advanced age.

JG

[Patrick]

Originally Posted by Mr._johngalt

3. I don't plan to live to his advanced age.

And what if you do? Are you going back to work? Or calling Kevorkian?

[Mr._johngalt]

Originally Posted by Patrick

And what if you do? Are you going back to work? Or calling Kevorkian?

Smith and Wesson.

JG

[73ss454]

I knew those guns would come in handy some day.

[Retire Soon]

I retired at 55. My father worked full time until he passed away at the age of 78.