Can You Retire Before You Die?

[wanaberetiree]

Can You Retire Before You Die?

"* The last of these 100 retirees, is the only one who is financially independent. This retiree has assets approaching or exceeding $1,000,000. They do not need the income from Social Security at all."

 

[Coolius]

The article is written by a lady that promotes home-based businesses as a way to escape the Megacorp syndrome.

Might it not be that the article seeks to alarm and motivate readers into considering a home based business?

Well, happy to be retired and out of that picture. My opinion is of no concern or relevance.

 

[packrat44]

A very high percentage of people on this forum have made Mistake #6 and are headed for doom and gloom.

 

[REWahoo]

A very high percentage of people on this forum have made Mistake #6 and are headed for doom and gloom.

Yep, especially if they also made Mistake #8

Mistake Number 8: Failing to seek expert financial and retirement guidance.

To save everyone the trouble of reading the [very questionable] article, here are the "... common and costly retirement planning mistakes that could seriously jeopardize your future and the lifestyle you dream of for your retirement."

Mistake Number 1: Procrastination
Mistake Number 2: Not realizing that you’ll need a specific amount of money to sustain you each month when retired.
Mistake Number 3: Relying on the belief you’ll be able to draw FULL Social Security benefits.
Mistake Number 4: The under-estimation of your medical costs if you are not in good health.
Mistake Number 5: Not setting up your long-term-care insurance early.
Mistake number 6: Making the assumption that you can retire early.
Mistake Number 7: Getting into the false hope that in retirement you will be in retirement-mode.
Mistake Number 8: Failing to seek expert financial and retirement guidance.

I've seen much better advice on this forum...

 

[flyfishnevada]

Scare-mongering to sell you something.

Mistake Number 2: Not realizing that you’ll need a specific amount of money to sustain you each month when retired. What is that specific amount? Oh yeah, there is none, people retire on all kinds of amounts. It just takes an adjustment in your spending habits.
Mistake number 6: Making the assumption that you can retire early. You can retire whenever you want. See above.
Mistake Number 7: Getting into the false hope that in retirement you will be in retirement-mode. Retirement-mode? Is that more of the lie that you will be bored, longing to go back to the rat race, or maybe just set up a home based business? Retirement-mode is an attitude.
Mistake Number 8: Failing to seek expert financial and retirement guidance. There are more retirement experts on this forum that in all retirement planning places that advertise on TV combined. Must be a plug for Early-Retirement.org.

 

[JPatrick]

Can You Retire Before You Die?

"* The last of these 100 retirees, is the only one who is financially independent. This retiree has assets approaching or exceeding $1,000,000. They do not need the income from Social Security at all."

Regarding the above statement from the article, I'd say--not so fast.
Before a million bucks makes you ready to return your social security check, think about what can happen if this money is in the market..Oh its in real estate? Same thing.
Point is, a million bucks ain't what it once was. It is a nice number, but please, keep your benefit.

 

[packrat44]

Regarding the above statement from the article, I'd say--not so fast.
Before a million bucks makes you ready to return your social security check, think about what can happen if this money is in the market..Oh its in real estate? Same thing.
Point is, a million bucks ain't what it once was. It is a nice number, but please, keep your benefit.

I believe that statement about $1mil was made in 1980. Equates to about $3.5mil today.

 

[Brett_Cameron]

Oops, yes I did.

 

[JPatrick]

I believe that statement about $1mil was made in 1980. Equates to about $3.5mil today.

Wow..I did not notice the cobwebs on the article.

I'm still keeping the check...

 

[traineeinvestor]

#1 Since when is procrastination a bad thing? [-]Unless my wife tells me otherwise, [/-]I'm always willing to put off until another day anything that does not absolutely have to be done today.

The article would have read better if the points raised had been presented as a list of issues to consider when planning for retirement.

 

[Nords]

The blog seems to be engaged in a spam contest with its commenters.

Maybe they can enrich themselves by clicking on each other's links. Self-perpetuating garbage?

 

[packrat44]

Wow..I did not notice the cobwebs on the article.

I'm still keeping the check...

Some people who started employment when/after this article was published have already retired. Oops, there goes Mistake #6 again.

 

[DayDreaming]

Mistake Number 8: Failing to seek expert financial and retirement guidance.

this one should say:

Mistake Number 8: Seeking and following 'expert' financial and retirement guidance without really understanding it.

That is, paying a financial advisor to manage your finances instead of learning the basics for yourself. (A mistake I made before finding this forum).

 

[bruce1]

Mistake Number 8: Failing to seek expert financial and retirement guidance. There are more retirement experts on this forum that in all retirement planning places that advertise on TV combined. Must be a plug for Early-Retirement.org.

HEy I got an idea for the home based business. Open as a retirement advisor and if there is a question I can not answer ask for advice here. LOL fat chance of me being a retirement advisor.