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ER is Relative
Old 07-13-2012, 01:24 PM   #1
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ER is Relative

From US News, why you should plan to work until 70. Good for a chuckle. The best advice: Fewer retirement years to finance.

Why You Should Plan to Work Until Age 70 - US News and World Report
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Money or Time
Old 07-13-2012, 01:32 PM   #2
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Money or Time

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From US News, why you should plan to work until 70. Good for a chuckle. The best advice: Fewer retirement years to finance.

Why You Should Plan to Work Until Age 70 - US News and World Report
I saw the same article as a yahoo link a couple days ago.

The article's point is from a financial point of view. It states that working longer brings in more money and makes retirement funding easier.

That's the big trade-off - Money or time.
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Old 07-13-2012, 01:37 PM   #3
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Added bonus, working a stressful job will ensure that you die sooner, saving even more.
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Old 07-13-2012, 01:43 PM   #4
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As well as an interim solution to the "What will I do all day?" problem.
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Old 07-13-2012, 01:59 PM   #5
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Let's do the math: Assumption ultimate demise at 90. Retire at 58 with less money, more sanity and enjoy it for 32 years making both SS and my pension plan pay through the nose.

Work stressful job till 65 have more money be half crazy knowing I could have been out of the game sooner but didn't go. Spend 25 years second guessing myself and not have the health and energy that I would have had if I had only ER'd at 58.

They don't give you the time back or put it on a gift card.

Retire with more but less time vs. Retire with less but more time and health.

ER = Priceless

57 going on 58 can anyone guess how I'm leaning?

8 months, 16 days 2 hours and 6 minutes but who's counting ... ME!!

Soon to be 'ing on the ceiling!
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Old 07-13-2012, 03:08 PM   #6
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8 months, 16 days 2 hours and 6 minutes but who's counting ... ME!!

Soon to be 'ing on the ceiling!
I'm counting too! 9 months and 9 days for me. to go at 55.
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Old 07-13-2012, 03:19 PM   #7
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I'm counting too! 9 months and 9 days for me. to go at 55.
I cannot believe it is almost here been planning on it for last 20+ years. DW just ER'd in May as school counselor so she is just starting to feel it as if she were still w*rking she would be lamenting about having to go back the end of this month.

Let me pinch myself!
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Old 07-13-2012, 03:42 PM   #8
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Arbeit macht frei.
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Old 07-13-2012, 03:56 PM   #9
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Arbeit macht frei.

"Work will set you free" especially if its aim is FIRE!
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Old 07-13-2012, 04:11 PM   #10
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From the article is one sentence I think most here would agree with...

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And those who have accumulated enough wealth for early retirement are certainly free to exit the workforce.
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Old 07-14-2012, 07:25 AM   #11
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Or you can get lucky and find stumble across a job that has a short commute, easy hours, low stress, and pretty much days off when you want. Which is what I did.

Admittedly that doesn't work for everyone.
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Old 07-14-2012, 11:11 AM   #12
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Yes, the big problem with the article is it ignores issues such as health, fitness and the value of time. It seems to assume that at 70 we will be as fit and vigourous as at 62 or even 66. Or that these issues do not matter. Many people are in great shape in their 70's. A friend recently backpacked the Wonderland trail around Mt. Rainier in his 70's. On the other hand another friend died at 65.

I hope to be in better shape at 70 because retirement leaves me time to get more exercise, eat better, and there is less stress. YMMV.
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Old 07-14-2012, 11:29 AM   #13
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I think that the great killer is stress. I would take time over money - I just need enough so that my basic needs are met - food, shelter, etc.
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Old 07-14-2012, 11:40 AM   #14
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"If you think you will live to 89, then waiting until 70 probably makes sense," says Robert Wacker, a certified financial planner.

Yah. O.K.
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