Gotta put off retirement?

If Mr. Greenspan was a retired machinist and they had saved for years for a European vacation, until one of them was diagnosed with cancer- I would feel really sorry for them.

This couple. He's still working as a dentist. She's working. They're lucky. They both have jobs, especially his. And they still have the condos and some other retirement funds. They were so stupid it's just hard to avoid lathering criticism on them. Evidently they expected to make $200K on each condo in two years? Huh? A 40% return? Why didn't they just go to Vegas?

And whining about not having a $400K (clearly massively overpriced, undoubtedly brand shiny new) boat. No wonder the boat salesman is holding it for them. Who else would buy it? There are many couples out there living their sailing dreams in older, tested, less flashy boats. I'll bet the Greenspans have all the other toys, too.....
There are many couples out there living their sailing dreams in older, tested, less flashy boats.

My boat is a used $900 10.5 foot Porta-bote that was wet once, with a $600 5 hp Brigg & Stratton outboard that was the store demonstrator. I guess that qualifies as less flashy.:)

A joke with the relatives is taking DW out for a "West Virginia River Cruise" - a 10-foot rowboat, a cooler with ham & cheese sandwiches and a box of fine wine.
If the Greenspans cancel the boat and lose the $15,000 deposit, it will be the best money they ever spent.
While they both still enjoy their work, "we should be out on our boat," says Ms. Greenspan.

Tears well up in my eyes for those denied the 400k boat because of the unsteady markets.

I wonder if folks like this are equally devil-may-care when they go cruising? If so, in the fullness of time they will be fish food.

I actually never feel sorry at all when someone takes nutty chances and gets from the universe what a reasonable universe should deliver under the circumstances.

Live stupid, die stupid.

Where do they find these people to interview? Sad, sorry for themselves, no idea of what is involved in being responsible for their own retirement income....what idiots!

Absolutely Sarah... this is very sad... but more and more I believe that it is true. I think that most people out there really DO believe they can get by for the rest of their lives on 300k total. That says to me that as all of these folks start realizing that they cannot, they will start begging for the govt to "save them". This frightens me to the core, because as a group the now retiring baby boomers are the largest voting block in america. I am afraid of the govt trying to redistribute my money into the hands of those who did not plan out their lives as well as I am. After the next election I will be watching the laws very carefully. I certainly hope that rational thinking returns soon....
I think these people actually feel cheated out of their well-deserved retirement fantasies. If I was this stupid there is no way I would ever allow my name to be presented to the public, especially on a financial publication read around the world.

I just don't think they see the foolishness <greed> of their ways.
I think that most people out there really DO believe they can get by for the rest of their lives on 300k total.....

Or less. And what value do they put on their children? I know a women in her '70s, still working, living in her daughter and SIL's house; says she doesn't have any money to retire.

Edited to add: She's not a baby boomer!
The guy with the 240K, his employer was/is IBM. He has a pension plan and didn't always have access to 401K. This was added later to the mix at IBM.

He is probably fine with 240K in assets, a paid off house, and his IBM pension - while living in MO.
If they cancel the boat and lose the 15K that may not be their only liability to the boat dealer. I would guess that if they cancel they would owe at least 15% of the total sale price and would be open to a law suit as well. So 15% of 400K is 60K

I'd love to see the contract they signed.
Even if they lose $60K, they will be better off.

That shining piece of ego will depreciate $100K within a week of leaving port.
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