Obsession about retirement.

[Alfred_B]

What is behind the American obsession about retirement? I've lived in many countries and nowhere else people are so worked up about retirement as in the US. Elsewhere, people enjoy their lives throughout, not until they reach the pension age.

And it's not only this forum, it's everywhere.

Why not try to enjoy life now instead of waiting for age 67? Have a job that you like, travel and enjoy things while you physically can. Instead of waiting for an age when you are decrepit and near the end.

 

[CKN]

The issue is that if you have a job your (statistically) working more hours than you ever have, and making less money, and have fear of taking vacation time, or even calling in sick-lest you will be replaced or let go in the next round of cost cutting.

Oh-I did I mention that (again statistically) you will not work for the same company 30 years and retire with a pension. (What's a pension anyway?)

Yeah-most people are obsessed with retirement because they have to figure out how to fund it-while paying all the rest of the bills that come with living life.


Yeah-we know there are exceptions to the above-but not many.

 

[Kawiguy454]

Can thy picket on a street corner and say how much their politicians blow? ...that's why everybody's trying to get in here.

 

[Dave Hess]

Retirement is the end of the finish line as a working adult. Its not an obsession but a necessity as you fund your own golden years.... Social Security makes up a very small portion of it.


CKN,
I've been at the same job for 30 years, both pensions will be approx $8000 a month. This doesn't include my 401K and IRA. I can post it if any doubts.

 

[exranger06]

Originally Posted By: Alfred_B
What is behind the American obsession about retirement? I've lived in many countries and nowhere else people are so worked up about retirement as in the US. Elsewhere, people enjoy their lives throughout, not until they reach the pension age.

And it's not only this forum, it's everywhere.

Why not try to enjoy life now instead of waiting for age 67? Have a job that you like, travel and enjoy things while you physically can. Instead of waiting for an age when you are decrepit and near the end.

So you're saying to spend lots of money "enjoying life" now, and worry about how I'll make ends meet when I'm 70, broke, and can't work anymore? No thanks. My father in law is basically in this position now and it's not pretty.

And I hope to be retired long before I reach age 67 anyway, so I'll stil have plenty of time to enjoy life.

 

[CKN]

Originally Posted By: Mr Nice
Retirement is the end of the finish line as a working adult. Its not an obsession but a necessity as you fund your own golden years.... Social Security makes up a very small portion of it.


CNK,
I've been at the same job for 30 years, both pensions will be approx $8000 a month. This doesn't include my 401K and IRA. I can post it if any doubts.



I have no reason to doubt you. You are an exception. Pensions have gone the way of the dinosaur for the most part in private companies. Those who are fortunate to have them now-usually have worked for a Government agency, State agency, public utility, etc. You get my idea I think. Obliviously, one of yours is from the Government for serving our country. Which I thank you for BTW. And then you started another career to get another pension. This is not what most people do-I'm sure you can appreciate that.

My Son-Armry reserves and now a Policeman-is setting himself up for a similar scenario.

 

[pandus13]

Originally Posted By: exranger06
Originally Posted By: Alfred_B
What is behind the American obsession about retirement? I've lived in many countries and nowhere else people are so worked up about retirement as in the US. Elsewhere, people enjoy their lives throughout, not until they reach the pension age.

And it's not only this forum, it's everywhere.

Why not try to enjoy life now instead of waiting for age 67? Have a job that you like, travel and enjoy things while you physically can. Instead of waiting for an age when you are decrepit and near the end.

So you're saying to spend lots of money "enjoying life" now, and worry about how I'll make ends meet when I'm 70, broke, and can't work anymore? No thanks. My father in law is basically in this position now and it's not pretty.

And I hope to be retired long before I reach age 67 anyway, so I'll stil have plenty of time to enjoy life.

I think OP was not referring to enjoying life un-responsibly but more like a little more relaxed approach to it. probably in the way of "work hard (doing something you love), play hard".

 

[MikeHigg]

Here is the thing about working, you have to do it to put yourself in a secure position, fund the kids through college, etc., but man when you can get away from the daily grind of work, frickin do it. Then you live for you. Here is what I ask people, "do you like 3 day weekends? If so, you'll love retirement." I asked a guy that was the just retired Pres. of our Corp. how he liked retirement, he said "it comes highly recommended." I like that, it comes highly recommended, that's what I say now too. But sadly, many if not most people I see will retire in poor financial condition.

 

[stockrex]

it is all about the Benjamins, I am looking forward to semi retirement, just work part-time and get my bucket list done.

My business partner is a retired army, $4k month in pension.
plus what he makes from the business.
in a few year when he get SS, he will make more than we an average engineer can make working fulltime.

Mr Nice - kudos, you worked hard for it. Most citizens are not that fortunate. Most places of employment are not willing to hire FTEs and/or does not have that great benefit.

Most business have done away with pensions and most people have no clue about managing their $$$.

 

[Digital2k2]

It's sad that the defined benefit pension is so rare now. I would much rather have that over a 401K.

The only option I see for those who need a pension type retirement fund is to invest in some type of annuity, maybe a variable annuity, a decent amount of time before retirement and hope it has good growth before annuitization.

Of course the downside to that is you have to lock up a decent amount of savings early on for it to amount to much. Once it's annuitized, you have your pension type payments, but no longer access to the money if you need it.

 

[RedOakRanch]

Why do people want out of prison? Who minds being booked out 40-60 hours a week during the middle of the day?

 

[UNC017]

Originally Posted By: Alfred_B
What is behind the American obsession about retirement? I've lived in many countries and nowhere else people are so worked up about retirement as in the US. Elsewhere, people enjoy their lives throughout, not until they reach the pension age.

And it's not only this forum, it's everywhere.

Why not try to enjoy life now instead of waiting for age 67? Have a job that you like, travel and enjoy things while you physically can. Instead of waiting for an age when you are decrepit and near the end.


Been doing that. But can't wait to retire (probably next year at age 52) and take on new challenges that I haven't had the time for in the past.

I'm one of the ones who (God willing to give me another year...) will retire from working at the same place for 31 years and with a pension. I watched a lot of people leave to go work "somewhere with great stock options" who will now be working until they're 70 because they never got a pension, investments didn't pay out like they expected, and they job-hopped 3 or 4 times never staying more than 10 years or so in one place. They wanted 'pay me now,' I liked 'pay me later' a little better. Plus the work itself has been a blast.

 

[LoneRanger]

Please God, not another retirement planning thread.

 

[Nick1994]

You want to spend every penny while you're young?

Good luck. When you're 70 and too old to work and live in a shack on welfare I wish you the best.

Me, I'd like to be happy while I'm young and when I'm old.

 

[CT8]

Originally Posted By: Kawiguy454
Can thy picket on a street corner and say how much their politicians blow? ...that's why everybody's trying to get in here.
The only problem is the idiot voters keep on reelecting the same politicians they are unhappy with.

 

[DBMaster]

Originally Posted By: CT8
Originally Posted By: Kawiguy454
Can thy picket on a street corner and say how much their politicians blow? ...that's why everybody's trying to get in here.
The only problem is the idiot voters keep on reelecting the same politicians they are unhappy with.


Or just the ones that have "D" or "R" after their names without knowing anything else about them.

 

[kd5byb]

Originally Posted By: Alfred_B
Why not try to enjoy life now instead of waiting for age 67? Have a job that you like, travel and enjoy things while you physically can. Instead of waiting for an age when you are decrepit and near the end.


I agree with you, to a point. One thing I've learned in life - it's all about balance.

I watched my father work hard his entire life, saving for retirement, only to see him die of a heart attack at 66. He never got to enjoy his retirement.

None of us know when we're going to die, so I'm doing both. I'm enjoying a financially-sane happy life now while saving for a modest retirement.

Am I out spending today like there is no tomorrow? Do we live like kings mortgaged up the wazoo? Heck no! Am I putting every penny in the bank making my family eat Ramen noodles three meals a day? Absolutely not.

(It is sort of funny, while I'm typing this my dinner is consisting of a left-over home-made hamburger from Saturday, which is downright delicious.)

Do I plan to "tour the world" when I'm retired? Do I plan to live in a grand old mansion in the country? Absolutely not. If I live to retirement age, I'll be happy to not drool on myself too much and given my lower back, still be walking.

thanks,
ben

 

[MCompact]

Originally Posted By: 440Magnum

Been doing that. But can't wait to retire (probably next year at age 52) and take on new challenges that I haven't had the time for in the past.

I'm one of the ones who (God willing to give me another year...) will retire from working at the same place for 31 years and with a pension. I watched a lot of people leave to go work "somewhere with great stock options" who will now be working until they're 70 because they never got a pension, investments didn't pay out like they expected, and they job-hopped 3 or 4 times never staying more than 10 years or so in one place. They wanted 'pay me now,' I liked 'pay me later' a little better. Plus the work itself has been a blast.


Same here; I am extremely blessed- I was semi-retired at 51 and completely retired in 2014 at 57. I still get called back to work a day or two per month. I could refuse, but the extra money funds my automotive obsessions...

 

[Yah-Tah-Hey]

I,m retired with a thirty two year old Seiko watch, a twin-trac razor that is even older and things are just fine. I'm not going anyplace soon, have only been out of the state two times in sixteen years, haven't been on an airplane in seven years and things are fine. And oh yes, my computer is a Dell GX280 running XP with a 2005 build date, the monitor is a "15 flat screen and things are fine. I watched a 27" CRT until two years ago and things are fine. My hand tools are forty to fifty years old with "made in the USA" stamped on them and things are fine. Things are just fine. Keep on the sunny side, always on the sunny side, Keep on the sunny side of life.

 

[cjcride]

I like your attitude Hojeen. I have some of those tools too.