WSJ Retirement Blues

[ziggy29]

Quote:

Originally Posted by Rustic23 NO. Not now, and hopefully not ever.

I wonder how many "hopefully nevers" were "emphatically nevers" two years ago.

[Freeatlast47]

I was thinking of going back to work part time to pad the retirement account,
but decided against it as I felt it would cost me money to work, with increased costs of food prep, lunches, gas, dry cleaners and more payroll taxes. It wouldn't be worth it unless I made at least $25 an hour and most jobs around here are less than 10 hour. The other option is to become self employed, but I just haven't found a niche that would work for me, if I were to do that I would have to work more than 40 hours a week. So there's the dilemma: time or money?

[Dawg52]

Quote:

Originally Posted by ziggy29 I wonder how many "hopefully nevers" were "emphatically nevers" two years ago.

Sad thing is.......by time I decide it is time to go back to work, we will be in a full-fledged depression. Better brush up on my farming skills. DOW now down 255 points.

[Rustic23]

Ziggy, I started to say 'never' but you know 'never say never', however, we do not depend on our savings for retirement. We have four income streams other than IRA's. Three of the four come from government. two of those are cola'd and the third grows at a guaranteed 7% until you start taking it, which we have not, and then paid out as an anuity over our projected life. The two cola'd pensions currently provide about 125% of our current spending. If you cashed our IRA's and paid off the house, we could defer property taxes and then the pensions would cover 181% of expenses.

So, while never is never never, something drastic would have to happen. Hyper inflation, where federal government pensions don't keep up with it would be one thing. In that case I doubt there would be employment for us anyway. Guess I will start a seperate thread to see what folks think.

[uncledrz]

Never really quit work, but going from full time to part time made all the difference. I may quit at some time, but there are two reason I keep going: 1. I like what I'm doing now (practice law in the commercial field) and 2. I know my wife is happier to have her personal time rather than having me around all the time

[hankster]

Quote:

Originally Posted by Khan Before I retired, I sort of considered some w*rk to pad my IRAs. After a couple weeks I realized what a stupid idea that was (for me).

We'll know things are really getting bad when Khan sells that kidney

[Tadpole]

Quote:

Originally Posted by Rustic23 So, while never is never never, something drastic would have to happen. Hyper inflation, where federal government pensions don't keep up with it would be one thing. In that case I doubt there would be employment for us anyway. Guess I will start a seperate thread to see what folks think.

Now that's an interesting thought. A year in which the COLA increase is 10,000x the pension.

[playaman]

I just now got around to reading the WSJ article and found it to ring really true.

Should it come to pass that I needed to go back to work (I'm in my seventh month of retirement now, terrible timing), I truly doubt I could find anything worth having. But that might be an opportunity to do something really different ... who knows? At any rate, I have no intention of doing so unless my portfolio (down almost 50% from its 2007 peak) crashes substantially more. I do find myself a tad bored every now and again, but a nap on the patio (it's been in the 80's here in South Texas) seems to solve the problem nicely.

[REWahoo]

Quote:

Originally Posted by playaman I do find myself a tad bored every now and again, but a nap on the patio (it's been in the 80's here in South Texas) seems to solve the problem nicely.

May I also suggest a nice little rain dance prior to your nap? Great exercise, improves the quality of your nap and we need all the help we can get...

[ziggy29]

Quote:

Originally Posted by REWahoo May I also suggest a nice little rain dance prior to your nap? Great exercise, improves the quality of your nap and we need all the help we can get...

You know, being 1/4 American Indian, maybe this would be a good time to get in touch with my roots...

[DangerMouse]

I semi-retired last year and our initial plan was that DH would finish up his job in December and we would retire happily ever after.

However, we decided in view of what is happening with the stock market, it would be prudent to stay employed until things settle down. Fortunately DH was offered a new position with a great company so we are in the process of relocating. After we are settled in our new location I will start looking for work - at this time I am uncertain if I will just temp or look for fulltime. The market could determine that for me.

We have made a mental commitment to another 2 years as we are just not comfortable going in what is such a down market with no indication of any change in the future. Add in that we are only mid 40s and we do not expect pensions of any kind and it seems prudent to stay on the gravy train for now. We figure it would be worse to fully retire now and then in 5 years have to look for work. When we are done for good we want it to stay that way.

[Walt34]

Quote:

Originally Posted by Moemg I also think it's different going back to work in your 50's than going back to work in your late 60's or 70's . When I see those people working they just look tired .

I think you're absolutely right. I'll be 59 soon, not looking forward to it, but it's better than the alternative. But I really don't see myself continuing on in the job for more than four years, tops. More likely between two and three.

And I do see some very tired-looking people that age, mostly the cleaning staff, and realize they're working because they have to.

[Walt34]

Quote:

Originally Posted by Freeatlast47 I was thinking of going back to work part time to pad the retirement account, but decided against it as I felt it would cost me money to work, with increased costs of food prep, lunches, gas, dry cleaners and more payroll taxes. It wouldn't be worth it unless I made at least $25 an hour and most jobs around here are less than 10 hour. The other option is to become self employed, but I just haven't found a niche that would work for me, if I were to do that I would have to work more than 40 hours a week. So there's the dilemma: time or money?

That was exactly the conundrum I found myself in. $10/hour doesn't pay enough to make the commute and vehicle wear worthwhile. The one I found pays just under $30/hour, there's no heavy lifting, and little paperwork other than filling out a time sheet. So for now life is good, and if the job evaporates we're no worse off than we'd have been without it.

And the retirement account could use some padding after the last statement we got....

[ziggy29]

Quote:

Originally Posted by Walt34 And I do see some very tired-looking people that age, mostly the cleaning staff, and realize they're working because they have to.

I think the part I boldfaced is the key here. I can only imagine that it's easier to let work BS roll off your back if you know you're in an economic position to walk away if it sucks too much (i.e. if you're FI). I know my dad's work life was a lot easier and less stressful as soon as he became eligible to retire. Not only because he didn't *have* to stress about workplace crap, but because his boss shielded him from the crap to prevent him from choosing to retire.