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Bloomberg says ER bad for your and nation's health
Old 06-12-2013, 08:18 AM   #1
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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
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Old 06-12-2013, 08:32 AM   #2
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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.
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Old 06-12-2013, 08:40 AM   #3
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Originally Posted by kmt1972 View Post
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
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Old 06-12-2013, 08:41 AM   #4
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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
I'll take my chances on retirement...
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Old 06-12-2013, 08:59 AM   #5
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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!
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Old 06-12-2013, 09:03 AM   #6
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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.
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Old 06-12-2013, 09:49 AM   #7
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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.
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Old 06-12-2013, 10:04 AM   #8
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Old 06-12-2013, 02:07 PM   #9
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I'll keep enjoying my improved health now that I'm retired and not working for weasels who made me sick.
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Old 06-12-2013, 02:52 PM   #10
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[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...
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Old 06-12-2013, 04:13 PM   #11
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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...
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Old 06-12-2013, 04:15 PM   #12
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Everybody who retires will eventually die.
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Old 06-12-2013, 04:24 PM   #13
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Everybody who retires will eventually die.
As will an overwhelming majority of those who don't.
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Old 06-12-2013, 05:14 PM   #14
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Bloomberg is right. FIRE'd people free-ride the system. We don't work and we under consume.
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Old 06-12-2013, 05:36 PM   #15
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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.
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Old 06-12-2013, 05:40 PM   #16
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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!

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Everybody who retires will eventually die.
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Old 06-12-2013, 06:01 PM   #17
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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.
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Old 06-12-2013, 08:49 PM   #18
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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........
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Old 06-13-2013, 06:17 AM   #19
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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.
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Old 06-13-2013, 06:24 AM   #20
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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!
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