Carpediem
Full time employment: Posting here.
- Joined
- Aug 26, 2016
- Messages
- 770
Just curious if anyone knows someone whose retirement plans went sideways and had to 'un-retire'? If so, what caused it?
I know quite a few people who retired, then returned to work after their finances failed. Bad math skills were one cause, plain old bad luck another.
I don't think multiple shots at retirement should be stigmatized, even if what is called a "failure" ......
When I was a bartender, a gentleman by the name of 'Tex' would come in. He was ~50 or so. Drove a big Cadillac. Always with women in their late teens or 20s. Drank $50 a shot Remy Martin cognac in 1984 or so. Tipped real well.
After seeing him many times at the bar, I found out he won ~$400K in a settlement. Later, when I had not seen him in a while, I heard he was a security guard.
Fast money in, fast money out.
Still, "Tex" got to live "the dream" for a little while, and that's worth something.
Wow, Athena. Was he also an actuary? Would think he'd have known better.... Maybe false confidence because of his quantitative skills?
I don't think anyone here is stigmatizing a return to work. Some members here have had to do that, and shared those painful moments with the rest of us. There are many reasons, but financial plan failure is a distinct possibility for many here I don't think we should hide from either that possibility or or the term "failure". After all, it's the plan that fails, not the person.I don't think multiple shots at retirement should be stigmatized, even if what is called a "failure" is due to financial over-optimism. Some just won't know if retirement is what they expect for a number of reasons. It's better to have tried it and found you need or want to work again than to be a member of the carried out feet first gang.
Lessons? You bet. Bad things happen to good people, Man Plans and God laughs. You always need to have a "Plan B".MichaelB, Are there any lessons or learnings to be gained from the need to return to work you mentioned ... other than "save more money"? ;-)
Thanks.
Someone here was living on bank stock dividends when the crash hit. As I recall, he had to go back to work.None here that I can think of... I run wirh a pretty slow crowd.
Still, "Tex" got to live "the dream" for a little while, and that's worth something.