Stop Dreaming, Early Retirement Is Over

[yakers]

From the LA Times, age of retirement is increasing:

http://tinyurl.com/2sr83u


Or is there room for a few of us to sneak through?

 

[haha]

One interviewee mentions the importance of RE in her retirement plans. The current RE bust could be one factor putting a dent in retirement plans, just as the Dot.com crash nixed some retirements 6-7 years ago.

I am 66, and I definitely look my age. Nevertheless, everyone I meet assumes that I am still working. It must be that many people my age are, at least in expensive locations like where I live.

Ha

 

[Fireup2020]

GASP!! No way for me! I am outta "the regular work force" NLT 55!

 

[zebageba]

early retirement

My mother is still working. She's 65. The only reason she is still working is because she started saving for retirement in her mid 40's. I'm 40 and have almost as much saved up for retirement as she does. She'll have pension and that's her saving grace along with SS. She's thinking of retiring next year. I hope she does so she can do some things she enjoys. The guy who's 79 in the article will die at his desk, but at least he seems like he really enjoys what he is doing. More power to him.

As for me, the sooner I can get out the better. I think the future will be grim for alot of people who failed to plan for their retirement.

 

[ziggy29]

Sounds like many of the folks returning are doing so by choice. Nothing wrong with that.

What I don't want is to be *dependent* on a job to put food on our table and keep us well. If there's something I enjoy doing and make a few bucks on the side, so much the better.

But the point of 'FI' in 'FIRE' is that such a job would be held because you *want* to work...not because you *have* to. Retiring early isn't for everyone, but even if it's not for you, wouldn't you still want to be financially independent enough to tell 'em to stick it if the job starts to suck?

 

[Sam]

The consequences: By staying in the workforce, older employees generate more spendable income — buoying the economy and contributing additional income taxes. Social Security could also be helped as workers pay into the system for additional years.

This is actually good news for members of this board

 

[TromboneAl]

"As long as I'm in good health, I see no reason to retire," said the suburban Philadelphia resident. "I would sit around and vegetate."

I sure wouldn't want anyone this unimaginative and ignorant to be working for me.

 

[SteveR]

It is pretty obvious that the folks who frequent the FIRE website are not of the same ilk as those in the mainstream. One has to have a certain mindset and ambition to escape the daily grind of working for a living. It takes more than a dream to get to FIRE. It takes a plan and the dedication to stay with it. Those that have no plan will have to work until they are thrown aside for younger worker bees or can't do it anymore because of health issues.

Like the old saying goes: "fail to plan, plan to fail".

 

[OKLibrarian]

*shrug* Fewer RE-ers means it'll be easier to score a tee time and that sweet vacation home. I may keep up my consulting practice part-time after I "retire", but billable hours will have to fit around volunteering and walks with friends.

 

[megacorp-firee]

I have been a 'black sheep' of sorts all my life. When people zigged, I zagged. LBYM is NOT the mainstream here in North America. Not being part of the herd has help get us where we are.

Being a contrarian has help us get here. I have always said to my kids, ' thank God for the average', ... and have been thankful that we were not.

It is good to see that our SS problems may be solved by our 'average' bretheren, who will continue to feed the system.

Life is good (for (the collective) us )

 

[Texas Proud]

"Otherwise, "what are you going to do with all that time?" she asked."


Nuff said...

 

[Goonie]

"As long as I'm in good health, I see no reason to retire," said the suburban Philadelphia resident. "I would sit around and vegetate."

I sure wouldn't want anyone this unimaginative and ignorant to be working for me.

I w*rked with 3 guys in my department that fit the bill. They said they will keep working into old age because if they retired they'd get bored! Geeze, their lives must really suck!!!

 

[FinanceDude]

I w*rked with 3 guys in my department that fit the bill. They said they will keep working into old age because if they retired they'd get bored! Geeze, their lives must really suck!!!

 

[Fireup2020]

One of our dinner guests last night was a 67 year old college professor from IL - he cannot fathom retirement. Nice that he does seem to truly enjoy his career - but, he was baffled by retirement conversations of others at the table. AMAZING! I just do NOT understand his mentality...

 

[Texas Proud]

One of our dinner guests last night was a 67 year old college professor from IL - he cannot fathom retirement. Nice that he does seem to truly enjoy his career - but, he was baffled by retirement conversations of others at the table. AMAZING! I just do NOT understand his mentality...

Actually that is a 'job' that I would not mind having... and not mind doing... after being there awhile, you can schedule when you want and how often you want... and hire TAs to do all the work...

Keeps the mind young dealing with all those young uns...

 

[citrine]

No way.....I cannot wait to retire!
Working gets in the way of my life! It is a sad thing that they don't have an idea of what to do in retirement. My mother is like that....no hobbies besides shopping and gossiping.

 

[bow-tie]

Having a job gets in the way of all of the stuff I would much rather be doing.

 

[megacorp-firee]

No way.....I cannot wait to retire!
Working gets in the way of my life! It is a sad thing that they don't have an idea of what to do in retirement. My mother is like that....no hobbies besides shopping and gossiping.

My dw has a very full day with her shopping and gossiping hobby, thank you very much...
It's not quanity, it's quality ...

 

[ylm23]

C'mon guys - ER is a great goal and one of my husband's as well (I actually hope to continue to do something in my career forever, but not full time and only the cases I want to take), but isn't it even better to be able to have a job you love going to every day? what if your hobbies and things you plan to pursue post-ER become possible new careers? Is it really so different than having found a wonderful career right from the start?

My dad is also a prof and we all assumed he'd die in front of a class but now in his early 60s he is actually talking about "retiring" although I am sure that will involve teaching some as emeritus and doing lots of consulting. And trust me, it isn't because he couldn't afford to retire today (or last year, or 10 years ago ...)

 

[CyclingInvestor]

C'mon guys - ER is a great goal and one of my husband's as well (I actually hope to continue to do something in my career forever, but not full time and only the cases I want to take), but isn't it even better to be able to have a job you love going to every day? what if your hobbies and things you plan to pursue post-ER become possible new careers? Is it really so different than having found a wonderful career right from the start?

I had a career (programming) that was a perfect fit for me - very easy, almost
always solo, my own hours, very little overtime, good pay, etc. I retired 7 months
ago, and there is no comparison. Now I can do exectly what I want. I do not
think anyone is going to pay me to take bike rides, nap when I want during the
day, hike, play with my dogs, or drink a nice bottle of wine. There is a huge
difference.

 

[firewhen]

If your boss walked in to your office tomorrow and said we cannot pay you anymore but you are certainly welcome to stay on as a volunteer and otherwise everything will be exactly the same, would you do it? (Yes unrealistic and illegal and you would be taken advantage of but assuming all those things were not true.) If you said yes, then you truly love your job and are being paid to boot.

There is nothing wrong with a vocation or employment if that is what you want. FI is the ability to do what you want when you want and that includes working. These people with $10,000 in retirement money do not have the freedom. I also think some folks think it is immoral to "sit around all day and not contribute to society". For the vast majority of us, society does not appreciably benefit from what we do. If you were a brilliant cancer research specialist that is one thing, but otherwise?

Yes in my personal life I do not know a single person who retired early (let's say before 60) and I know a man who is working who is just short of 80. Doesn't mean we need to be like them--financially they are not like us.

 

[W2R]

If your boss walked in to your office tomorrow and said we cannot pay you anymore but you are certainly welcome to stay on as a volunteer and otherwise everything will be exactly the same, would you do it?

I'd be out of there so fast it would make your head spin.

 

[haha]

I had a career (programming) that was a perfect fit for me - very easy, almost
always solo, my own hours, very little overtime, good pay, etc. I retired 7 months
ago, and there is no comparison. Now I can do exectly what I want. I do not
think anyone is going to pay me to take bike rides, nap when I want during the
day, hike, play with my dogs, or drink a nice bottle of wine. There is a huge
difference.

No doubt there is a difference, and one which you and most of us on this board perceive as a positive difference. But not everyone would respond the same way. I think there are a number of careers where I would be happy to work, striving to attain the F-U freedom of FI, but continuing on the job. Especially if I had time to stay in decent physical shape and I enjoyed the social interactions of the career. Someone like Jarhead who "retired" to a career of professional golfer is a great example.

Ha

 

[DangerMouse]

I found this article quite depressing. I think it is sad that people have so little imagination that they can not imagine what they would do if they did not have work in their lives. I could imagine the fascination for employment must be different for those who do make a difference on a daily basis i.e. those trying to find a cure for cancer, but for people like myself whose main job function is to make money for others, I don't see the point.

For so many older people out there, their financial situation is such that they would never allow themselves to envision retiring comfortably at an age considered to fall into the RE category.

 

[wildcat]

Yeah, I agree on the depressing article comment. Hell, after reading that I can't wait to die in my cube at the ripe age of 80-100. I will be a productive person according to the avg American's definition and I should have healthcare covered up until that point....