UnrealizedPotential
Thinks s/he gets paid by the post
- Joined
- May 21, 2014
- Messages
- 1,390
joeea,
I thought you had a couple of good questions and I will answer them as best I can. Why age 70? Well, that's the longest he can postpone SS without having to take it. The other reason is I tried to give the man some hope. If I said, you might not ever be able to retire I might have discouraged him from even trying.
Where is the money to invest going to come from, since he hasn't saved anything in 50 years? From my conversation with him I got the feeling he could have saved something, he just over looked it. He wasn't concerned about it. Kick the can down the road sort of thing. I think he woke up one day, and realized he was in trouble.
But yes, I do not think he will be able to save much, I hope I'm wrong on that, but from talking with him he can surely save something, and that's the important thing is to get something going.
ETA-He was concerned that SS was not going to be enough for him to live on. He was worried that was all he had to rely on and he is right to be worried IMO.
I thought you had a couple of good questions and I will answer them as best I can. Why age 70? Well, that's the longest he can postpone SS without having to take it. The other reason is I tried to give the man some hope. If I said, you might not ever be able to retire I might have discouraged him from even trying.
Where is the money to invest going to come from, since he hasn't saved anything in 50 years? From my conversation with him I got the feeling he could have saved something, he just over looked it. He wasn't concerned about it. Kick the can down the road sort of thing. I think he woke up one day, and realized he was in trouble.
But yes, I do not think he will be able to save much, I hope I'm wrong on that, but from talking with him he can surely save something, and that's the important thing is to get something going.
ETA-He was concerned that SS was not going to be enough for him to live on. He was worried that was all he had to rely on and he is right to be worried IMO.
Last edited: