Yet another article about how awful retirement is

[Pellice]

I think I'm going to petition the admins for a sticky for articles like this:

https://www.nextavenue.org/retirement-bad-fit/

The article is an interview with Michelle Silver, author of a book called "Retirement and its Discontents," about how unhappy people are when they "lose their identities" by leaving the workplace. It's full of generalities such as the assertion that Americans think of retirement as tied to an age (which has been less and less the case). It also includes completely unrealistic scenarios for employers:

On the workplace side, what we can do is help employers connect with employees in ways that do not write them off. Instead, give them some attention. Say: ‘You’ve got all this institutional knowledge, this is what you’re good at and what your interests are. Tell me what you want to do here and then pivot, so you can focus your energies in a different way.

But, hidden deep inside of the article is the tell:

Most just felt unprepared for their new life, which echoed a statistic I saw in the new Charles Schwab 2018 Boomer Study. Schwab asked 278 participants in 401(k)s age 54 to 70 what they planned to do when they retired from their primary job or occupation and 17 percent said: “Not sure what will happen.

Get that? Somehow 17% is turned into "Most" when it is actually "Less than one-fifth."

Is there some vague societal impulse that wants us to believe we are only morally fulfilled through paid work? Bah!

 

[Clone]

 

[HI Bill]

Some of the folks in my office have retired twice already...so maybe, they're part of the 17%!

 

[ckelly78z]

Most people I talk to about retirement give me the same story....i'll have to work till I die".

This reflects the lack of investing knowledge, and the tendency to "live for today, tomorrow will take care of itself".

So many of my friends are perpetual car leasers, and house renters, so they may actually be correct, they WILL have to work till the die !

 

[W2R]

The worst day of retirement is better than the best day at work.

Been there, done that. Or, in other words: this experienced retiree says that the past 3,362 days of retirement have been the best days of my life, beyond the shadow of a doubt. (Oh, and by the way like the respondents to that survey, I had absolutely zero idea of what I would do in retirement until I retired. So what?)

As far as I can tell, anyone who could associate retirement with discontent must be mad as a hatter.

 

[HI Bill]

Most people I talk to about retirement give me the same story....i'll have to work till I die".

This reflects the lack of investing knowledge, and the tendency to "live for today, tomorrow will take care of itself".

This reflects man's overall myopia. We are so short-sighted, that we can't remember 2008, much less 1988 or 1928. We don't plan long-term as a species. Look out how businesses are run mostly...caring about quarterly and year-end profits over long-term profits. Sears vs. Amazon is a fine example. Sears' managers receiving bonuses while the ship lists, then sinks.

I once asked a 45 year old when they wanted to retire, and they had not yet thought about it!

 

[Huston55]

This seems to be the journalistic equivalent of the ‘Wall Street shoe shine boy giving stock tips.’

Early Retirement and/or Financial Independence in almost any form is now such a culturally hot topic (and thriving business), that this quality of writing is being published...by Columbia University Press no less. I admit I read only the interview so, the book could be better. However, either this is the worst interview/write-up ever or, the book is pablum written by someone with a PhD.

 

[camfused]

Most people I talk to about retirement give me the same story....i'll have to work till I die".

This reflects the lack of investing knowledge, and the tendency to "live for today, tomorrow will take care of itself".

So many of my friends are perpetual car leasers, and house renters, so they may actually be correct, they WILL have to work till the die !

+1! At my retirement party last week, they all said this too.

 

[Nick12]

Suze Orman- worth several millions dollars at least suggested —- work until you are 70. No thank you. I retired early because I invested early in life.

 

[WestUniversity]

I’m surprised anyone gives Orman any credibility...

 

[Nick12]

There is a saying there is a sucker born every minute.

 

[scrabbler1]

The author mentioned CEOs and doctors many times, hardly a good representative sample of the workforce who retire.


As for couples versus single people in retirement, I think there is a general bias against single people everywhere in society. I found being single while working full-time all those years quite depressing at times, and it was a significant reason behind my reducing my weekly hours worked (to part-time status) so I could begin enjoying life again.

 

[Amethyst]

Every retired person I know well or fairly well, is happily retired, unless they have serious health problems or personal problems. But a job would not make those go away.

 

[Dtail]

The author mentioned CEOs and doctors many times, hardly a good representative sample of the workforce who retire.


As for couples versus single people in retirement, I think there is a general bias against single people everywhere in society. I found being single while working full-time all those years quite depressing at times, and it was a significant reason behind my reducing my weekly hours worked (to part-time status) so I could begin enjoying life again.

Bolded - selective bias being used. One does see many elderly CEO's and doctors who do truly enjoy working in their later years and it doesn't mean there is a monetary necessity at all. Might as well throw congress in there too.

 

[Aerides]

I think I'm going to petition the admins for a sticky for articles like this:

Just my opinion, but you'd have a better chance petitioning for a sub-forum titled "stupid retirement articles for click-bait from dubious sources".

I, for one, would then ignore the whole lot!

 

[Midpack]

I know full well I’ll be shouted down here again, but did you read the article? It’s entitled “When Retirement Is A Bad Fit For You” - When. Where did it claim retirement was bad for most?

The author said “The reality of retirement for some people, ...unfulfilling, rudderless and filled with a loss of identity“ - Some.

She went on to interview a select group of people who were unhappy with retirement to learn more. “She interviewed dozens of former doctors, professors, CEOs and homemakers who viewed themselves as retired, all of whom found the transition to retirement challenging at best. Many felt forced into retirement by their employers or strongly pushed into it by friends, colleagues and families. Some miss doing the work they had done.”

If you’re happy in retirement, great, this book isn’t meant for you. I didn’t see where the author claimed retirement was bad for all or even most.

Claiming retirement is always great is just as misguided as (falsely in this case) that retirement is always bad. It reminds me of today’s partisan political arguments where any view other than your own is “obviously” wrong.

Some people are happier working, some are not. Life goes on either way...

 

[TDub]

I’m surprised anyone gives Orman any credibility...

She’s helpful for some people. One of her books “Young, Fabulous & Broke” set me on the path when I was 22 and knew nothing about personal finance.

That said, Orman is an ok place to start but her work probably shouldn’t be the end piece of one’s financial education

 

[Nick12]

I know I’ll be shouted down again, but did you read the article? It’s entitled “When Retirement Is A Bad Fit For You” - When. Where did it claim retirement was bad for most?

The author said “The reality of retirement for some people, according to Michelle Pannor Silver, author of the new book, Retirement and Its Discontents: unfulfilling, rudderless and filled with a loss of identity“ - Some.

She went on to interview a select group of people who were unhappy with retirement to learn more. “She interviewed dozens of former doctors, professors, CEOs and homemakers who viewed themselves as retired, all of whom found the transition to retirement challenging at best.

Many felt forced into retirement by their employers or strongly pushed into it by friends, colleagues and families. Some miss doing the work they had done.”

If you’re happy in retirement, great, this book isn’t meant for you. I didn’t see where the author claimed retirement was bad for all or even most.

Claiming retirement is always great is just as misguided as (falsely in this case) that retirement is always bad. It reminds me of today’s partisan political arguments where any view other than your own is “obviously” wrong.

Some people are happier working, some are not. Life goes on either way...

There was a quote from a writer who summed up a happy or not so happy retirement in one sentence. "And as much as possible try to include doing things that are about movement".

 

[MRG]

Most people I talk to about retirement give me the same story....i'll have to work till I die".

This reflects the lack of investing knowledge, and the tendency to "live for today, tomorrow will take care of itself".

So many of my friends are perpetual car leasers, and house renters, so they may actually be correct, they WILL have to work till the die !

A former co-w*rker posted he had spent 30 years at Megacorp and wanted to do 25 more. He's 60 years old.

 

[Midpack]

A former co-w*rker posted he had spent 30 years at Megacorp and wanted to do 25 more. He's 60 years old.

A friend of mine sold his company, and retired, that lasted 3 days and he went back as a PT contractor. Not ready to retire at age 68.

The 60-ish car salesman I just bought from was a retired bank exec. After 3 weeks he was bored, and his wife showed him the local Honda dealer was looking for salespeople. He’s been working there 7 months, happy as a clam.

 

[Winemaker]

Most of the people that I worked for are either dead or still w*rking. While I don't know their savings or spending rates, I assure you that most of them still w*rking because of their thirst for power, status, and importance in their own minds.

 

[Which Roger]

It's easier to continue working than to retire. With the former, your sense of purpose, structure, and money are given to you. With the latter, you're on your own. We are an exceptional group in that most us have found it relatively easy to make that transition. But it's not that easy for most people.


Picture a group of people who are good at math or sports or art or whatnot struggling to understand why it doesn't come so easy for everybody else. Just as these endeavors are a combination of natural talent and hard work, so is making the transition from w*rk to retirement.

 

[flintnational]

Ode to work

I miss the endless travel, rush hour, alarm clocks, the coat and tie, vendors laughing at all my jokes, time away from the family, report preparation, office politics, and meetings. I think I miss meetings the most!

Oh well, I guess I will have to settle for levis and leisurely lunches with my DW. Having free time to pursue my own interests does not compare to the thrill of a corp. meeting. But, hey what are you going to do? Some days, when I really miss work, I set the alarm clock, leave the house around 6:30 AM and just go sit in rush hour traffic! Wow, to be back in the game!

 

[robnplunder]

I know full well I’ll be shouted down here again, but did you read the article? It’s entitled “When Retirement Is A Bad Fit For You” - When. Where did it claim retirement was bad for most?

The author said “The reality of retirement for some people, ...unfulfilling, rudderless and filled with a loss of identity“ - Some.

She went on to interview a select group of people who were unhappy with retirement to learn more. “She interviewed dozens of former doctors, professors, CEOs and homemakers who viewed themselves as retired, all of whom found the transition to retirement challenging at best. Many felt forced into retirement by their employers or strongly pushed into it by friends, colleagues and families. Some miss doing the work they had done.”

If you’re happy in retirement, great, this book isn’t meant for you. I didn’t see where the author claimed retirement was bad for all or even most.

Claiming retirement is always great is just as misguided as (falsely in this case) that retirement is always bad. It reminds me of today’s partisan political arguments where any view other than your own is “obviously” wrong.

Some people are happier working, some are not. Life goes on either way...

+1.

We all know someone whose life is work and vice versa. My uncle at age 79 still works despite having enough money. He can't quit b/c he doesn't know what to do with free time (when he can still make $$$). Most around him feel sad b/c he's still like a scrooge, not enjoying his money. For this kind of people, unless there is a life changing event, he has to work (= life itself).

 

[MRG]

I miss the endless travel, rush hour, alarm clocks, the coat and tie, vendors laughing at all my jokes, time away from the family, report preparation, office politics, and meetings. I think I miss meetings the most!

Oh well, I guess I will have to settle for levis and leisurely lunches with my DW. Having free time to pursue my own interests does not compare to the thrill of a corp. meeting. But, hey what are you going to do? Some days, when I really miss work, I set the alarm clock, leave the house around 6:30 AM and just go sit in rush hour traffic! Wow, to be back in the game!

[emoji23]