The Case against Retirement

[MasterBlaster]

Pontificate por favor:

The case against retirement - MSN Money

<Surveys show that a majority of baby boomers say they want to work during their golden years. They're going to get their wish. The key question is no longer "How early can I retire?" It's "Why retire?" >

 

[W2R]

Now THERE's an article that's going to be popular on this forum! (not!!)

Obviously I think he is full of baloney. I love retired life so far, and see no reason to ever dislike being able to choose how I want to spend my time.

Sometimes I think that articles like this are a failed attempt to persuade baby boomers to never quit their jobs. Sorry! Ain't gonna work for me, and I am going to start getting (rather than contributing to) Social Security in a few years and I won't regret that for a moment.

 

[shadowtime]

Articles like this is what discourages people from looking at inexpensive alternatives to retirement.

I would rather retire cheaply than continue to work...how about you?

I retired at 49, am now 64...still retired, by reducing my spending.

It hasn't been a lot of fun though...living on a sailboat, fulltime RVing, living in foreign countries.

When are folks going to wake up and make age the first thing to consider when retiring.

 

[LOL!]

When are folks going to wake up and make age the first thing to consider when retiring.

As soon as they figure out they have enough money/investments to retire at that age and still cover their expenses and healthcare.

 

[CuppaJoe]

Now THERE's an article that's going to be popular on this forum! (not!!)

Obviously I think he is full of baloney...

Yes, baloney. Oddly, I craved baloney recently and made a poor boy sandwich; that's as close to the working life as I care to get. I used to eat that on stressful work days.

Thanks for excerpting that, MB:

...The key question is no longer "How early can I retire?" It's "Why retire?

The real question is “Why read MSN Money?” I guess cuz the dog can’t shred an e-zine, we’ll have to do it here.

Welcome, Shawdowtime, great first post. May all those dull activities leave you a few moments to post here.

 

[shadowtime]

That is my point...why not look at ways of reducing expenses including healthcare.

If you do you may find yourself a lot closer to retirement than you think.

Focusing only only money and investments is not what retirement should be about.

 

[Rich_by_the_Bay]

There's really nothing "wrong" with people who can't retire early. People end up having to work into their 70s as a result of all kinds of circustances: bad luck, bad choices, bad circumstances, and sometimes excessive generosity to others. Preventable or not, it is what it is.

Maybe it's just the nature of my job, but I see too many people in financial (and other) misfortune every day for me to feel smug about their need to keep working. There's a story behind each one, often worth hearing.

Of course, then there are the idiots, but that's another thread .

 

[bbbamI]

Maybe it's just the nature of my job, but I see too many people in financial (and other) misfortune every day for me to feel smug about their need to keep working. There's a story behind each one, often worth hearing.

Yeppers...or as I would say, "Walk a few miles in my boots..."

 

[scrabbler1]

Terrible article. What about people who (like me) had a lousy and long commute? Even working only 2 days a week in my last 17 months of working (2007-2008), the whole morning routine including the commute to work made me nauseous. I needed to end the misery which meant retiring (at age 45).

At my old company, I could cash out my company stock (worth about $300k) only if I stopped working there. For the last few years of working there, my only thought was "Why am I still working?" and not, "Why am I still working here?"

Once all the pieces fell into place with regard to my retirement income and expenses (i.e. affordable health insurance), I gave them my resignation.

Best move I ever made.

 

[friar1610]

<Surveys show that a majority of baby boomers say they want to work during their golden years. They're going to get their wish. The key question is no longer "How early can I retire?" It's "Why retire?" >[/QUOTE]

A lot of the article I've read about boomers who want to work in retirement are along these lines: So and so and his wife are really into wine, baking bread, books or whatever. So they want to cash out of the job with megacorp so they can turn their attention to a vineyard, bakery, independent book store or whatever. It's hard to tell from those articles if the folks really want to work /I] per se or if they want to pursue an interest which is most logically pursued through a job.

 

[rescueme]

Those who can retire, do.

Those who can't, either make excuses or write articles such as this, IMHO ...

BTW, I retired (maybe not early, but before the age of 60). I have no regrets and don't feel the loss of anything.

May others find themselves as contented as I am in my life...

 

[Goonie]

OK....granted, there are those who will need to work past their normal retirement age due to their individual circumstances. That I understand and accept with no problem. There are also those who want to keep working for whatever reason....they like what they do, they do it to keep from getting bored, whatever. Again, I understand and accept that with no problem.

However....the author states:

Surveys show that a majority of baby boomers say they want to work during their golden years. They're going to get their wish. The key question is no longer "How early can I retire?" It's "Why retire?" (emphasis added)

......Ummmm, a majority wants to keep working??

I'd really like to read the wording of the questions on those surveys! I wonder if they were like, "When you reach retirement age would you want to eat out of dumpsters and live in a cardboard box, or would you want to continue working instead?" Because, and I may be totally wrong, I find it very difficult to believe that a majority want to keep working. In fact, in my own little realm of friends and acquaintances, I've found no one that wants to keep working...zilch...nada...zero!!!


Or maybe it's just that the author of the article doesn't grasp the difference between "want to" and "need to". Or perhaps I'm from another planet in another solar system and I just don't "get it"...or else maybe my thinking is warped and twisted beyond the acceptable limits when it comes to things related to retirement. (it's a 'given' that I'm warped & twisted in regards to most things anyway! )

 

[Rich_by_the_Bay]

However....the author states:......Ummmm, a majority wants to keep working??

Maybe he means that they want to keep working so they don't go bankrupt, i.e. they need to keep working. It really is vaguely written.

I guess the acid test would be to see what percentage of those who are truly FI choose to work for other reasons.

 

[Goonie]

Maybe he means that they want to keep working so they don't go bankrupt, i.e. they need to keep working. It really is vaguely written.

I guess the acid test would be to see what percentage of those who are truly FI choose to work for other reasons.

Yep, that's what I was thinking. It would have been better if he had clarified whether he actually meant "want" or if he really meant to say "need". Because I could understand if a majority had said they "need" to keep working, but not a majority saying they actually "want" to keep working. But, as it's written, it does give hope to those that "need" to keep working....it gives them the security of thinking that most everyone is in the same boat they are....even if it may possibly be a false hope and sense of security.

 

[SciFiFan53]

IMHO - I think some of this "not wanting to retire" stuff is related to the sad fact that many of my generation are defined by their jobs. They have worked to advance in their companies and become so connected to their jobs that they have little interest and life outside of work. Long hours and constant demands (e-mail, mobile phones, etc) get you so involved in the corporate life that they have no relationships that aren't defined by their jobs. When they quit, they lose their "importance" in life. I feel sorry for them.

 

[Rustic23]

This article is most likely right, as far as the numbers go, as to the necessity to work beyond 60/65, but I believe wrong in the desire to work. I do not doubt that when you take the people that have not LBYM and add to them the number who want to work in retirement that the majority of baby boomers will be working beyond 60. That is a different statement that the majority of baby boomers want to work beyond 60.

 

[travelover]

IMHO - I think some of this "not wanting to retire" stuff is related to the sad fact that many of my generation are defined by their jobs. They have worked to advance in their companies and become so connected to their jobs that they have little interest and life outside of work. Long hours and constant demands (e-mail, mobile phones, etc) get you so involved in the corporate life that they have no relationships that aren't defined by their jobs. When they quit, they lose their "importance" in life. I feel sorry for them.

I agree. When I was growing up, it seemed like people had a lot more hobbies and personal interests, even if it was just fishing or collecting stamps or coins.

 

[brewer12345]

I want to retire because it will keep me from going to jail for strangling idiots.

 

[Tesaje]

I know people who really do not want to retire. They are one of two types - they are incapable of making decisions and keeping themselves occupied and need someone to tell t hem what to do - or they have little interest outside of the job so they truly do not know what to do with themselves if they don't have the job.

They are not the majority. Not even close.

And then there are those who can't afford to.

 

[Bikerdude]

Great advice on how to make retirement more affordable.

Wait until your too old to do anything.

 

[unclemick]

This article is most likely right, as far as the numbers go, as to the necessity to work beyond 60/65, but I believe wrong in the desire to work. I do not doubt that when you take the people that have not LBYM and add to them the number who want to work in retirement that the majority of baby boomers will be working beyond 60. That is a different statement that the majority of baby boomers want to work beyond 60.

Rather than quote Jim Rogers on Yahoo finance today about getting up every morning and having fun at what you do - I'll go with my old buddy Sam(retired AF) who I worked with over twenty years in the Space Program:

'If they didn't pay to come here everyday - I'd have to buy a ticket to come watch.'

So even when work got boring/yucky he had the right attitude.

Hindsight says I had fun - except those times it became work - and then they layed me off - this pissing me off so much I hit the LBYM/cheap SOB button - unemployed until I discovered the ER mode and became a 'born again slacker' who posts alot on forums.

heh heh heh - cold and still snow on the ground outside - but I made the doughnut shop - two glazed/two black and an hour of B.S. with some fellow retiree's. . Tough work but somebody has to fight the elements and get their licks in - wasn't crowded either.

 

[Rich_by_the_Bay]

They are one of two types - they are incapable of making decisions and keeping themselves occupied and need someone to tell t hem what to do

Agree.

or they have little interest outside of the job so they truly do not know what to do with themselves if they don't have the job.

Agree.

And then there are those who can't afford to.

Agree.

And then there are those who find much of their work rewarding or gratifying, despite the usual hassles and BS. A minority, to be sure - some farmers, doctors, clergy, a few teachers and other academics, researchers come to mind. Not sure what the common denominator is, if any.

 

[kyounge1956]

(snip)
<Surveys show that a majority of baby boomers say they want to work during their golden years. They're going to get their wish. The key question is no longer "How early can I retire?" It's "Why retire?" >

I bet those grapes were sour anyway.

 

[traineeinvestor]

While I am sure there are some people who genuinely want to work even after they reach the point when their finances render it unnecessary, I am equally sure that there are career opportunities in providing therapy to such people.

On a slightly more serious note, I can understand that people who have built their lives around their work (either by choice or by complusion) may have some genuine issues with loss of structure, loss of purpose and loss of human interaction when they eventually retire. These are far greater concerns for myself than the financial aspects.

 

[HFWR]

I want to retire because it will keep me from going to jail for strangling idiots.

As we say in Texas, "They needed killin'."