 |
|
Bloomberg says ER bad for your and nation's health
06-12-2013, 07:18 AM
|
#1
|
|
Recycles dryer sheets
Join Date: Mar 2013
Location: Scarsdale
Posts: 180
|
Bloomberg says ER bad for your and nation's health
Bloomberg does not seem to like ER. We have
Retirement Will Kill You - Bloomberg
Researchers at the Institute of Economic Affairs in the U.K. have also recently identified “negative and substantial effects on health from retirement.” Their study found retirement to be associated with a significant increase in clinical depression and a decline in self-assessed health, and that these effects grew larger as the number of years people spent in retirement increased.
Then we also have
Are Americans Saving Too Much or Too Little? - Bloomberg
...the economy's weakness can be attributed to excessive saving by households and businesses. In response, these economists recommend that governments push their citizens to save less.
Where the nation's economic health is hurt by people saving for ER
__________________
"There are no solutions...there are only trade-offs." - Thomas Sowell
Looking to retire or semi-retire by 45 based on our net worth going to $6 million outside our house.
|
|
|
 |
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!
|
|
06-12-2013, 07:32 AM
|
#2
|
|
Thinks s/he gets paid by the post
Join Date: Aug 2005
Location: Crownsville
Posts: 3,746
|
I guess there is some truth to it on the obvious level, when you consider that once you're retired, you're probably not paying into SS and medicare anymore. And you're probably in a lower tax bracket. So, the government isn't making as much off of you as they were before. Plus, if you get your mortgage paid off, get to the point you can pay cash for cars and other big ticket items, etc, then others aren't making as much money off of you, either, so it cuts into their profits and, most likely, the amount they pay in taxes.
|
|
|
|
|
06-12-2013, 07:40 AM
|
#3
|
|
Full time employment: Posting here.
Join Date: Jun 2008
Posts: 534
|
 Quote:
Originally Posted by kmt1972
Bloomberg does not seem to like ER. We have
Retirement Will Kill You - Bloomberg
Researchers at the Institute of Economic Affairs in the U.K. have also recently identified “negative and substantial effects on health from retirement.” Their study found retirement to be associated with a significant increase in clinical depression and a decline in self-assessed health, and that these effects grew larger as the number of years people spent in retirement increased. |
Seems like a case of damned if we do and damned if we don't. If retirement doesn't kill ya your job will.
Your job might be killing you - Fortune Management
__________________
Never surrender what you really want for what you want right now.
|
|
|
|
|
06-12-2013, 07:41 AM
|
#4
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 14,183
|
__________________
Have Funds, Will Retire
...not doing anything of true substance...
|
|
|
|
|
06-12-2013, 07:59 AM
|
#5
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2009
Posts: 6,695
|
OMG I better end my pleasant, stress-free ER of 4 1/2 years and go back to work with its awful, stressful commute and harried morning routine and lousy lunch food! NOT!
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.
"I want my money working for me instead of me working for my money!"
|
|
|
|
|
06-12-2013, 08:03 AM
|
#6
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2012
Posts: 6,180
|
Regarding the "Retirement will kill you" article, they never seem to conduct these studies by separating out those who are forced to retire versus those who choose to retire. The results would likely be different between the two groups.
__________________
FIREd date: June 26, 2018 - "This Happy Feeling, Going Round and Round!" (GQ)
|
|
|
|
|
06-12-2013, 08:49 AM
|
#7
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2009
Posts: 6,695
|
Quote:
Originally Posted by jollystomper
Regarding the "Retirement will kill you" article, they never seem to conduct these studies by separating out those who are forced to retire versus those who choose to retire. The results would likely be different between the two groups.
|
No argument from me. My mom had to retire at 55 because she was ill with cancer. She died 4 years later. My dad voluntarily retired at 63 and is alive and well 19 years later.
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.
"I want my money working for me instead of me working for my money!"
|
|
|
|
|
06-12-2013, 09:04 AM
|
#8
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 17,263
|
Sign over the Auschwitz death camp:
Arbeit macht frei
Translation: Work sets you free
__________________
Comparison is the thief of joy
The worst decisions are usually made in times of anger and impatience.
|
|
|
|
|
06-12-2013, 01:07 PM
|
#9
|
|
Recycles dryer sheets
Join Date: Oct 2011
Posts: 122
|
I'll keep enjoying my improved health now that I'm retired and not working for weasels who made me sick.
|
|
|
|
|
06-12-2013, 01:52 PM
|
#10
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2011
Posts: 8,419
|
[QUOTE=kmt1972;1
...the economy's weakness can be attributed to excessive saving by households and businesses. In response, these economists recommend that governments push their citizens to save less.
Where the nation's economic health is hurt by people saving for ER[/QUOTE]
Right! What this country needs are more people with no ability to pay their bills, cover their personal upkeep themselves and (heavens!) pay cash for things they buy!
We're all saving too much money folks! That's why the economy is a mess...
__________________
Living well is the best revenge!
Retired @ 52 in 2005
|
|
|
|
|
06-12-2013, 03:13 PM
|
#11
|
|
Moderator Emeritus
Join Date: Oct 2007
Location: Portland
Posts: 4,946
|
So, ideally, Americans should avoid savings, and work until they die, thus providing both economic stimulus and minimizing medical expenditures for post-retirement depression treatment.
This seems to be culturally consistent...
|
|
|
|
|
06-12-2013, 03:15 PM
|
#12
|
|
Thinks s/he gets paid by the post
Join Date: Jul 2007
Posts: 1,085
|
Everybody who retires will eventually die.
|
|
|
|
|
06-12-2013, 03:24 PM
|
#13
|
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
|
Quote:
Originally Posted by David1961
Everybody who retires will eventually die.
|
As will an overwhelming majority of those who don't. 
__________________
Numbers is hard
|
|
|
|
|
06-12-2013, 04:14 PM
|
#14
|
|
Recycles dryer sheets
Join Date: Nov 2002
Location: Alajuela, Costa Rica
Posts: 222
|
Bloomberg is right. FIRE'd people free-ride the system. We don't work and we under consume.
|
|
|
|
|
06-12-2013, 04:36 PM
|
#15
|
|
Moderator
Join Date: Oct 2010
Posts: 10,725
|
Quote:
Originally Posted by jollystomper
Regarding the "Retirement will kill you" article, they never seem to conduct these studies by separating out those who are forced to retire versus those who choose to retire. The results would likely be different between the two groups.
|
That's the first thing that entered my mind. Like the studies that say losing weight is correlated with death because those that have a terminal disease often lose weight before they depart. They need to separate out the groups to make a meaningful statement.
|
|
|
|
|
06-12-2013, 04:40 PM
|
#16
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2008
Posts: 12,658
|
How depressing! Not only that, everyone who retires is either old, or will get old eventually - and that's if they're lucky.
Why, it's a wonder any retired person has a happy thought at all! 
Quote:
Originally Posted by David1961
Everybody who retires will eventually die.
|
__________________
If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success – to be able to spend your life in your own way.’ Christopher Morley.
Even a blind clock finds an acorn twice a day.
|
|
|
|
|
06-12-2013, 05:01 PM
|
#17
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2011
Posts: 8,419
|
Quote:
Originally Posted by galeno
Bloomberg is right. FIRE'd people free-ride the system. We don't work and we under consume.
|
There's a lot of free ridin' going on. You could argue it's a bell shaped curve.
__________________
Living well is the best revenge!
Retired @ 52 in 2005
|
|
|
|
|
06-12-2013, 07:49 PM
|
#18
|
|
Thinks s/he gets paid by the post
Join Date: Jan 2005
Location: northern Michigan
Posts: 2,215
|
Quote:
Originally Posted by KiraC
I'll keep enjoying my improved health now that I'm retired and not working for weasels who made me sick.
|
Right, same here. In my case, there is no doubt that my health has IMPROVED since I retired. I exercise more, I eat better, I sleep better, I experience much less stress, and my annual blood test results confirm that I'm healthier than when I was working. I just shake my head and chuckle when I read these studies about how I am supposed to be so depressed and unhealthy........
|
|
|
|
|
06-13-2013, 05:17 AM
|
#19
|
|
Thinks s/he gets paid by the post
Join Date: Apr 2005
Location: Midwest
Posts: 2,969
|
Quote:
|
Bloomberg is right. FIRE'd people free-ride the system. We don't work and we under consume.
|
Even when I was working I was half-way there. I always under-consumed. I lived as if I were maybe one generous step above actual poverty. That's how I was able to retire early.
|
|
|
|
|
06-13-2013, 05:24 AM
|
#20
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2011
Posts: 8,419
|
Quote:
Originally Posted by razztazz
Even when I was working I was half-way there. I always under-consumed. I lived as if I were maybe one generous step above actual poverty. That's how I was able to retire early.
|
...and now you're being told that's a bad thing!
__________________
Living well is the best revenge!
Retired @ 52 in 2005
|
|
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|
Linear Mode
