Hard Truth on Retirement Planning

[Sarah in SC]

Still, I've noticed the older I get, the less tolerant I am of heavy traffic and long drives. Sometimes if I have to run an errand and get caught in rush hour traffic, it makes me grateful that I don't have to put up with it on a regular basis.

Yes, me too. I have about a 35 mile commute, and traffic has gotten progressively worse over the past 10 years. I now come into work later and (try to) leave a bit earlier so to avoid the worst of the heavy traffic. I've definitely noticed that the commute leaves me far more drained, especially in the evening, than in the past.

 

[timo2]

Yes, me too. I have about a 35 mile commute, and traffic has gotten progressively worse over the past 10 years. I now come into work later and (try to) leave a bit earlier so to avoid the worst of the heavy traffic. I've definitely noticed that the commute leaves me far more drained, especially in the evening, than in the past.

I was telling primary care physician I don't have the energy for that or this anymore, and the doctor said 'maybe you are just getting old' (I'm 62).

 

[wmackey]

I commute 120 miles a day. It's all highway and typcially ~ 70Miles/Hour. Been doing that for over seven years. Isn't to bad. But just a little congestion makes it a pain and I grumpy.

P.S. Changed to this job to shorten my commute. Old gig was closer to 200 miles a day and always jammed.

 

[Options]

I can only speak for myself, but as my financial assets grew my BS bucket shrank.

During those many days when FI was far off, I found ways to finesse or avoid the BS in as gentle a way as possible.

Reality is a strong motivator.

+1
Strangely enough, w*rk actually became enjoyale after informing the boss I was leaving. My relationships have deepend, I've become impervious to any BS as I know it's not my problem, and am actually free to care about the people. So much so that yesterday I offered to stay on as a resource employee to help train my replacement. Doing it for the boss, who I like and care about.

It is true that perspective is everything.

Also agree with above posters and Slate author that the current financial porn of work as a retirement plan is dangerous. Scott Burns refers to one's 50s as something akin to being filled with retirement landmines. During this time, research has shown that a high proportion suffer from a either a serious health condition or job loss from which they never financially recover. Plan accordingly.

 

[marko]

But thank goodness everyone can agree to tax the wealthy more to increase their own SS payments!

" A poll conducted last year agreed Social Security benefits should be increased, with the bill paid by the wealthy."

That means us, ER denizens, not Bill Gates or Warren Buffett or even Courtney Love.

You're right, Ha! Before we start "agreeing" on taxing the wealthy, let's agree on who the wealthy are. Most often it's many of the folks right here.

 

[Al in Ohio]

I hardly think so. I consider the wealthy worthy of paying a greater percentage share as one with at least ten million in net wealth. Most will have over 25 million. How many here qualify in that regard? I don't think too many. But alas those folks do hold over 90% of this nations total wealth.


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[RAE]

As a supervisor I could observe myself and my other older employees and conclude that one of the problems with older employees is they have seen "too much" throughout their careers. They have capped out in their classification level and they are tired of watching younger employees and managers repeat the same mistakes they have seen many times throughout their careers. They can become cynical, unimaginative, and basically have an "attitude problem".

Yes, I had the same experience where I worked. I'm sure I was guilty of some of this myself (toward the end of my career). After you've been around for a while and seen a whole lot, it becomes difficult to watch new people come in and suggest (with great enthusiasm) the same things that have failed in the past (sometimes repeatedly). You want to be open to new ideas, but when you know the idea is not going to work, it's tough to just smile, keep your mouth shut, and try to implement it. I came to the conclusion that when you reach that point, it's time to move on, even if you feel you are still productive. Fortunately, I was FI by that point, and planning to retire very soon anyway, so I wasn't going to hang around much longer under any circumstances. I saw some other co-workers hang on much longer than they should have, and it's not pretty.

 

[ERD50]

You're right, Ha! Before we start "agreeing" on taxing the wealthy, let's agree on who the wealthy are. Most often it's many of the folks right here.

I hardly think so. I consider the wealthy worthy of paying a greater percentage share as one with at least ten million in net wealth. Most will have over 25 million. How many here qualify in that regard? I don't think too many. ...

See how easy it is to define 'wealthy'? Anyone who makes 2x more than the person you ask to define it!

Works every time!


-ERD50

 

[Mulligan]

Yes, I had the same experience where I worked. I'm sure I was guilty of some of this myself (toward the end of my career). After you've been around for a while and seen a whole lot, it becomes difficult to watch new people come in and suggest (with great enthusiasm) the same things that have failed in the past (sometimes repeatedly). You want to be open to new ideas, but when you know the idea is not going to work, it's tough to just smile, keep your mouth shut, and try to implement it. I came to the conclusion that when you reach that point, it's time to move on, even if you feel you are still productive. Fortunately, I was FI by that point, and planning to retire very soon anyway, so I wasn't going to hang around much longer under any circumstances. I saw some other co-workers hang on much longer than they should have, and it's not pretty.

My opinion supervising older workers for 10 plus years were both. Generally they were either my best workers or my worst. The newer hirers were generally in between. My older workers were either my "go to's" I could count on to finish the task, or minimalists looking only to do enough to avoid being fired.


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