Can you afford to retire?

When I talk to my older family members about what they want to do when they retire, most of them have very short-term ideas,They want to take a cruise or something like that. They don't ask themselves, what are they going to do in 20 years ... 30 years?..

More people are entering their mid-60s stuck, perhaps, with dismayingly skimpy savings accounts, but blessed with sound health and many years ahead of them and deciding that retirement doesn't top their agenda.

One of my family members said finances are a major concern, especially since the recession slashed retirement accounts and home values.And most don't have any pensions to fall back on and there worried about medical and long-term care bills even more than they do basic expenses.

My aunt June that is 65 is now out job hunting and is have a hard time finding a job..I think that Age need not hinder performance -- age-related shortcomings are often outweighed by reliability, commitment and accumulated knowledge..

She also told me she would enjoy going to work she does not like sitting home wasting away..and she expects to live another 18 to 20 years..

But will employers be open to hiring these older people? I'm hoping within the next decade workplaces may become more welcoming to the gray-haired. Because there simply won't be enough younger workers to replace all the boomer's..

I think we need to get over (ageism) and give these people a break.."We always talk about saving our natural resources ... we need to do something to save our human resources." peace,sugarcookie1

Anyone have any thoughts on this or are older out job hunting and have you found any success? or finding stumbling blocks because of your age?

I doubt that I will ever retire, but I am down to 10 hours a week average to maintain my current standard of living.

I've said for years that I will never retire. I've seen it happen that when folks have no reason to get up in the morning other than to play or mess with hobbies, that they deteriorate fairly quickly. We all need to have a reason to swing our feet to the floor and get going. We need to know someone else is depending on us, and that if we don't do what we do, others will be affected.

As far as difficulty in obtaining gainful employment as an older person, I think the best answer is to make your own work. In other words, start a business of your own. Find something you love, are good at, and do that. I am 15 years away from having to retire per federal law, but I am building toward starting my own business long before that. One of the benefits of age is a wealth of experience. Putting that to work for yourself in a small (or large) business situation can bring great rewards. That's what I am working toward.

Originally posted by DarthMuerte
I doubt that I will ever retire, but I am down to 10 hours a week average to maintain my current standard of living.

DarthMuerte
I'm hearing allot of what your saying also there just going to work and probably never retire..But some have cut there hours down so its not so hard on them and there still making a decent living..peace,sugarcookie1

reply to post by sugarcookie1

My goal is to get down to a 4-5 hour work week while maintaining my current standard of living.

I don't know as I am 20. We'll probably all be working in sweat shops for 30 cents an hour by my retirement age.

Originally posted by SubQuantum
I've said for years that I will never retire. I've seen it happen that when folks have no reason to get up in the morning other than to play or mess with hobbies, that they deteriorate fairly quickly. We all need to have a reason to swing our feet to the floor and get going. We need to know someone else is depending on us, and that if we don't do what we do, others will be affected.

As far as difficulty in obtaining gainful employment as an older person, I think the best answer is to make your own work. In other words, start a business of your own. Find something you love, are good at, and do that. I am 15 years away from having to retire per federal law, but I am building toward starting my own business long before that. One of the benefits of age is a wealth of experience. Putting that to work for yourself in a small (or large) business situation can bring great rewards. That's what I am working toward.

SubQuantum
Its not an easy proposition, finding a job after the age of fifty it can be disheartening for some and
overwhelming, even terrifying for others...

I think the older workers do have a vast, rich pool of resources they may not have been aware of, may have taken for granted, or may simply have overlooked..

Starting a business of your own is a wonderful idea and what your working toward is very smart..Best of luck..peace,sugarcookie1

My husband and I opted for early retirement. We were tired of the job market hassle, the insanity and high cost of city life, and nothing to show for it.

The first thing we did was bail out of the city. We tried for over a year to sell the house, but with all the houses around us going into foreclosure and being sold for a fraction of what we were asking, we had no buyers. So we just left it.

We bought a little country house in cash, borrowing the money from a relative and paying them back at a much cheaper rate than what a bank would charge. It is exceptionally cheap to live out here, and certainly within our meager monthly budget. We got rid of one of our cars and now have just one vehicle. We literally save almost $3000 per month now compared to before. Basically, we pared down our lifestyle to match what we get each month from royalties and investments. I realize that we are lucky and not everybody has well-to-do relatives that can help, or has passive income sources.

Trying to get a job as an older person is an exercise in frustration. Age discrimination is rampant, and an employer will end up with a 20 year old ditz with no work ethic, and pass up an older worker who is never late, never leaves early, and never calls in sick. I have thought about it, but I have worked since I was 16, and I'm enjoying the hell out of this thing called "retirement". So I'll leave the job frustration for somebody else.

I don,t know, to br honest, I,d need a crystal ball to predict what the cost of livin might be in say 10 or 20 years time.
What I would like to note is that if workers continue to work past the usual retirement age ( I don,t know what this is in America...) it will make it harder for young people to find work. This is already a problem in European countries...

Originally posted by RealSpoke
I don't know as I am 20. We'll probably all be working in sweat shops for 30 cents an hour by my retirement age.

RealSpoke
Well at 20 i don't think anyone is really thinking about retirement but in reality we should be thinking about it at a young age and save for this time in our lives..

I don't for see us working in sweat shops for 30 cents an hour by retirement age.
peace,sugar cookie1

Originally posted by FissionSurplus
My husband and I opted for early retirement. We were tired of the job market hassle, the insanity and high cost of city life, and nothing to show for it.

The first thing we did was bail out of the city. We tried for over a year to sell the house, but with all the houses around us going into foreclosure and being sold for a fraction of what we were asking, we had no buyers. So we just left it.

We bought a little country house in cash, borrowing the money from a relative and paying them back at a much cheaper rate than what a bank would charge. It is exceptionally cheap to live out here, and certainly within our meager monthly budget. We got rid of one of our cars and now have just one vehicle. We literally save almost $3000 per month now compared to before. Basically, we pared down our lifestyle to match what we get each month from royalties and investments. I realize that we are lucky and not everybody has well-to-do relatives that can help, or has passive income sources.

Trying to get a job as an older person is an exercise in frustration. Age discrimination is rampant, and an employer will end up with a 20 year old ditz with no work ethic, and pass up an older worker who is never late, never leaves early, and never calls in sick. I have thought about it, but I have worked since I was 16, and I'm enjoying the hell out of this thing called "retirement". So I'll leave the job frustration for somebody else.

FissionSurplus
Thank you for posting..I think when you bailed out of the city was a goods idea..

I own a farm out in the sticks and live mostly off the land and Ive been able to save allot of money..I think parring down your lifestyle was a great idea and I'm sure you and your husband live just fine and your very happy..

I know my aunt June was saying that age discrimination is rampant and i know this wonderful lady would be so reliable and would be on time and never miss a days work..

But your right the employer would rather hire a 20 year old ditz (not all are) but most over the older employee..

I'm 38 and divorced and trying to save all i can towards retirement and its been hard but I'm going to do it i dont want to be working when I'm 70..peace,sugarcookie1

Originally posted by MrJohnSmith
I don,t know, to br honest, I,d need a crystal ball to predict what the cost of livin might be in say 10 or 20 years time.
What I would like to note is that if workers continue to work past the usual retirement age ( I don,t know what this is in America...) it will make it harder for young people to find work. This is already a problem in European countries...

MrJohnSmith
I have no idea what the cost of living will be in 20 years but by the ways its going now its going to probably double..

Over the next two decades, seventy-six million baby boomer's will approach retirement leaving allot of jobs opening but were talking years down the line..peace,sugarcookie1

Originally posted by DarthMuerte
reply to post by sugarcookie1

 

My goal is to get down to a 4-5 hour work week while maintaining my current standard of living.

DarthMuerte
You must have a well paying job to be able to do that i don't know of anyone that could cut down to a 4-5 hour work week and maintain..peace,sugarcookie1

reply to post by sugarcookie1


If you're out in the sticks, you're already halfway towards being more stable as you get older....Such as the cost of water and sewage, for example. We are on a well now (as you probably are). Our house is entirely electric, and we are part of an electric co-op that, even at the height of summer, only costs us $150 per month, tops. That and the $35 per month the city charges to empty our dumpster once a week are our only utility costs.

Where we moved from, our water bill ALONE was over $200 per month, including costs for the city sewage system. Along with the nasty-tasting city water, we got the added benefit of fluoride and chlorine. Our property taxes were over $5000 per year. Our electricity used to be, in the height of summer, around $500, and that's if we kept the house on the warm side to save on the bill. The natural gas bill was around $180 per month. Garbage pick up, $60 per month for two little cans.

Country living and growing your own food will free your money up for other things like, um....saving it.

Originally posted by FissionSurplus
reply to post by sugarcookie1

 

If you're out in the sticks, you're already halfway towards being more stable as you get older....Such as the cost of water and sewage, for example. We are on a well now (as you probably are). Our house is entirely electric, and we are part of an electric co-op that, even at the height of summer, only costs us $150 per month, tops. That and the $35 per month the city charges to empty our dumpster once a week are our only utility costs.

Where we moved from, our water bill ALONE was over $200 per month, including costs for the city sewage system. Along with the nasty-tasting city water, we got the added benefit of fluoride and chlorine. Our property taxes were over $5000 per year. Our electricity used to be, in the height of summer, around $500, and that's if we kept the house on the warm side to save on the bill. The natural gas bill was around $180 per month. Garbage pick up, $60 per month for two little cans.

Country living and growing your own food will free your money up for other things like, um....saving it.

FissionSurplus
I have my own well and septic tank..I have garbage pick up that is cheap i only need a small can..

In the winter i burn with wood the stove has a blower on it and warms the whole house my electric bill is high but i run lights in the barn and electric water heaters in the winter..

I grow a garden every summer can all my vegetables and fruit and hunt deer in November for my meat to get me through the winter..

I raise cattle for a living and sell the meat to the local restaurants..

I'm disabled and i have a big old farm house so i hired a helping hand to work the farm for room and board he is a lifesaver and it was one of the smartest things i ever did so yes its been fairly easy to save and i love the country life wouldn't trade it for anything..

I consider myself very lucky and i hope to retire here in my country farm just like you and your husband have peace,sugarcookie1

Anyone else 50 plus job hunting? Or anyone have any ideas on retirement?
peace,sugarcookie1

Originally posted by sugarcookie1
Anyone else 50 plus job hunting? Or anyone have any ideas on retirement?
peace,sugarcookie1

The husband and I are getting there. We dont even discuss retirement. LOL! I quit work to educate kids at home and etc. I do some side stuff now, but nothing that would replace his income. He has a very nice paying job in a pretty secure ( as secure as you can get these days) position. He says he just plans to work until he drops dead. He's the type that cant sit still and MUST work. WHen he was on a 4 week vacation I almost strangled him.. drove me nuts with the "gotta do something productive" issue he has.

My parents retired ( he didnt really retire, he kept going in and hassling his workers at the co he had at the time.. LOL! it was only retirement as in he wasnt on job sites anymore) and had a place in the country, but it got to be WAY too much to maintain for my dad. When he died they were already talking about returning to Montana, but he refused to go back to the rez. He just became physically unable to care for the animals and all. He died in the middle of them downsizing and selling off livestock and etc. SHe eventually got it all sold and ran to the rez so fast she must have left a fiery trail from Louisiana to Montana.

Sometimes retirement isnt what its all cracked up to be.. so I understood.

Originally posted by Advantage

Originally posted by sugarcookie1
Anyone else 50 plus job hunting? Or anyone have any ideas on retirement?
peace,sugarcookie1

The husband and I are getting there. We dont even discuss retirement. LOL! I quit work to educate kids at home and etc. I do some side stuff now, but nothing that would replace his income. He has a very nice paying job in a pretty secure ( as secure as you can get these days) position. He says he just plans to work until he drops dead. He's the type that cant sit still and MUST work. WHen he was on a 4 week vacation I almost strangled him.. drove me nuts with the "gotta do something productive" issue he has.

My parents retired ( he didnt really retire, he kept going in and hassling his workers at the co he had at the time.. LOL! it was only retirement as in he wasnt on job sites anymore) and had a place in the country, but it got to be WAY too much to maintain for my dad. When he died they were already talking about returning to Montana, but he refused to go back to the rez. He just became physically unable to care for the animals and all. He died in the middle of them downsizing and selling off livestock and etc. SHe eventually got it all sold and ran to the rez so fast she must have left a fiery trail from Louisiana to Montana.

Sometimes retirement isnt what its all cracked up to be.. so I understood.

Advantage
Thanks for postingI'm sorry to hear about your dad..I have a family member like he was retired and spends most of his time at the company he owned driving the workers nuts..
But he worked hard all his life and turned the company over to his son and just went crazy not having anything to do..
Finally he bought a nice travel trailer and him and his wife are now traveling the world and having the time of there lives but it took him 5 years to to move on and enjoy his retirement..
I do understand retirement isn't what its all cracked up to be peace,sugarcookie1

I'm approaching 47years old and I'm more or less retired.

Went through the unemployment thing during the Thatcher years - did various bits and bobs to try and earn a shilling or two.
Managed a couple of betting shops before getting a job in a local multi-national owned factory.
Started in the worst job in the factory and about 18years later when I left I was in a relatively senior role.
I then worked as a Production Manager of a factory a few hundred mile away from where I live.
Got sick of the travelling and decided to get my own pub eventually getting a second one.
Gave the pubs up after a three years or so and now very happy doing as little as possible.

During all those years I worked doors on and off and at one time had my own security firm.

I retain an interest in one of the pubs I had and still work the occassional door and have a couple of other minor business interests that combined help pay the bills and give me some beer money etc.

I thoroughly enjoyed most of working life, even if it was hard graft at times.
It was challenging and demanding.

I always worked hard, and played a damn sight harder.

But I enjoy my retirement even more.
Certainly haven't got the disposable income I used to and I've had to cut back on quite a few things, but the quality of life is far better - and I still get to have a few beers and the odd blow out.
And have so much more time to relax and spend time with my grandson.
I have got an allotment and am starting an Open University course so I have plenty to occupy myself with.

If I wanted to maintain the lifestyle I had previously then there is no way I could afford to retire, things are sometimes tight and at times I've considered another pub or expanding some of my business interests but at the moment I'm enjoying things as they are.

I may go back into regular work at some point, but It would have to be something that really appealed to me on many levels.

I went through puberty in my teens.
At this rate there is a chance I will go through poverty in my 60's and beyond.
Doing my best to make that not happen. Odds are 50-50 at the moment.