Seeing more & more of this everywhere.

[Gunfighter14e2]

Seeing more & more older folks entering & staying in the work force, when they should be home taking life easy.

More Than 4-in-10 Americans Have Given Up on Retirement and Expect to Work Until They Die - 🔔 The Liberty Daily

If you love the news, check out The Liberty Daily's homepage. (The Epoch Times)—A significant share of Americans believe they may never retire, with 43 percent admitting they see themselves working until death, financial services company WalletHub said in a Sept. 2 survey. “50 percent of people...

thelibertydaily.com

 

[mattman215]

Unpopular opinion but most of the older generation i see, to include my own family never took saving for retirement seriously, but now complain how it is everyones fault they cannot retire.

I do think inflation is bad, but from all the cases I have personally seen it was far more individual life choices that contributed to the fact they cannot and will not ever retire.

 

[kindabitey]

I’ll keep working until they run me off. It’s not like I’m doing heavy manual labor or anything. Most likely I’ll start a 4 day week around 68 and taper off as time goes by. Not having kids plays a big factor in that.

 

[91Eunozs]

Unpopular opinion but most of the older generation i see, to include family never took saving for retirement seriously but now complain how its everyone else fault they cannot retire.
I do think inflation is bad, but from all the cases I have seen it was far more individual life choices that ensure they cannot and will not ever retire.

Yep…a lot of this. That said, inflation over the past few years has been absolutely insane.

I’m now twice retired, but our monthly household maintenance costs have increased almost 50% since 2020, and that takes a huge bite out of our semi-fixed income. My wife is back to basically working full time to cover the gap, and I’ve even started helping out her office with some project management stuff a couple days a week to help fund my hobbies. I know, I know… #1stworldproblems

We’re doing fine, but we need to buckle down and just focus on paying off the mortgage to remove that from the equation. I’m just happy we financed our current home back when rates were ridiculously low; we couldn’t afford our current home at today’s rates…well, we could, but we’d be “house poor” and not have much left over for “fun” stuff…you know, actually living instead of just existing.

I’d argue we’re doing better than most our age who are eyeing those fast-approaching so called golden years of retirement, but the cost of living has most certainly increased a lot recently, and I’m really worried for the next generation.

 

[918v]

Unpopular opinion but most of the older generation i see, to include my own family never took saving for retirement seriously, but now complain how it is everyones fault they cannot retire.

I do think inflation is bad, but from all the cases I have personally seen it was far more individual life choices that contributed to the fact they cannot and will not ever retire.

It’s unrealistic to expect people to mitigate for basically a 100% increase in cost of living. Between Obama and Biden that’s what happened. Food, fuel, rent, and health insurance. They made it virtually impossible to retire for most people. Before them inflation wasn’t even in the picture. Everything else was manageable.

 

[Emerson0311]

It’s unrealistic to expect people to mitigate for basically a 100% increase in cost of living. Between Obama and Biden that’s what happened. Food, fuel, rent, and health insurance. They made it virtually impossible to retire for most people. Before them inflation wasn’t even in the picture. Everything else was manageable.

I though it was just me…

 

[TheHorta]

We were built to work. You can only sip so many Mai Thais.

 

[mattman215]

It’s unrealistic to expect people to mitigate for basically a 100% increase in cost of living. Between Obama and Biden that’s what happened. Food, fuel, rent, and health insurance. They made it virtually impossible to retire for most people. Before them inflation wasn’t even in the picture. Everything else was manageable.

Your not wrong, that doesn’t help. My only point was when your life savings is under 30k and your 65 with a house payment and car payment, inflation is kind of irrelevant.
Most people I was referring to that I know of personally basically have saved 0 dollars their entire life.

But you are not wrong even for those who planned this is getting tough.

 

[lonegunman762x51]

I was saving for retirement in my 20's. My future ex-wife destroyed my life with the help of a superior court judge. When the court decided to bankrupt me and reduce my income to below poverty by giving 65% of my take home pay to this useless cunt, the judge smirked and said, "you should have thought of that before you decided to get divorced." I replied, "You should learn to READ. She filed this divorce to run off with someone." No matter, he smiled and said, "Ohhhhh well." It took a year and they destroyed my life, took every penny and saddled me with an additional $15,000 in her credit card debt. I restarted my retirement plans 30 years ago, from ZERO.

Today I am retired. It takes hard work.

I worked with a 56yo guy who literally said, "I've gotta start putting something away soon, it is nearly time to retire." I've met hundreds of people along the way who literally put away $50 bucks a pay day and are surprised with 65 hits and they have almost nothing in the bank.

Weird anti-government Jesus freaks, certified idiots who think banks are evil, basic idiots and people living large. They all arrive at the end broke as hell. I had a utility job for 21 years that had a $60 buck a pay day matching contribution to your 401K. Every two weeks, you give them $60 dollars and they give YOU $60 dollars. Literally a .75 cent an hour pay bump. Hate stocks? They have mutual funds. Hate funds? They have bonds? Hate stocks, bonds and mutual funds? They have a money market that pays 3%.

I had two employees who straight up REFUSED a free $60 bucks. It took almost two years to convince them. This two scientists argued like hell to NOT get paid an extra $1560 a year. When they one finally retired a year after I changed jobs, I went to his retirement party. He sheepishly looked at me and smiled. He had nearly $45K in his retirement 401K and it was all in the money market. That was on top of the pension, social security, a paid for house and his other savings. You need to be smart enough to take free money.

Your failure to plan is YOUR fault.

 

[NoDopes]

I had a coworker that didn't contribute to the 401K because he said the company match isn't vested for 4 years and he didn't want them to think they could hold it over his head. WTF.

 

[TimC in KY]

If you are approaching retirement age and aren’t prepared for it, it probably can’t be explained to your satisfaction.

Life is about choices. Choices involve consequences. If you make poor choices, don’t blame others or expect sympathy when you face consequences of your choices.

I’ll be 63 years old this month. Like EVERYONE my age, we knew this day was coming. I started with nothing and made the choices to be where I’m at today. I will be fine.

It is all about personal responsibility.

 

[Ronws]

I have been putting into a simple IRA. But, too avoid having too many assets so that my wife could qualify for Medicaid, I had about 50 of it rolled into a 5 year annuity.

I worked with a guy who simply would not do the IRA. Our boss tried to show him how it is put in the IRA fund, not the company bank and even showed the company's contribution.

The guy wouldn't take the free money. He was sure it would be stolen from it. To this day, he cashes his paycheck.

I want to retire in a few years but I may have to work until about 70. I had to cash out some of my IRA for home repairs to keep my insurance going.

Another guy we work with in our industry is 86 years old and still phsyically out there managing jobs. He has millions and several properties.

He keeps an 80 year old truck in the running. But he drives around town in a 30 year old Camry.

I think he will work until croaks on a job site in someone's backyard. As long as it doesn't happen in the middle of the Rayburn Tollway.

 

[zeroz]

Inflation is bad but people not investing for retirement young is a bigger problem. I have a buddy who never made over 60k. Started saving hard right out of college and is retired at 46. He's not high on the hog and he doesn't have kids, which are both a thing, but he manages to pay for all his shit just fine because he was smart with money early. If only id have paid attention.

We were built to work. You can only sip so many Mai Thais.

Wanna bet. You fund, I'll sip.

 

[chevy_man]

We were built to work. You can only sip so many Mai Thais.

I could drink them until I die...

I have too many hobbies to ever stop "working". Toy hauler will always need tinkering and maintenance. Dirt bikes, 4 wheelers, SxS will always need maintenance.
If I'm too hobbled up for that then there's always reloading and shooting.

Hell, with enough money and time I might finish the projects I've started, and get around to looking for new ones!

 

[mosin46]

my daughters (1 gen X,1 millin) deny any ability to retire. they know it won't likely happen. gr sons (millin) don't even mention the word. never happen for next 2-3 gens i fear.
situations vary a lot in my age group. most i know are stable or better. some aren't. i haven't had monthly payments in 15 years. got in a car wreck total and had to buy a "new","used" car on time. kills my discretionary spending. prior to that i radically cut the "fun" stuff; long range shooting,hunting,offshore fishing. the cost increases due to inflation are,to my old time thinking,mind boggling. but then that applies to everything else too.

 

[Redmanss]

The wife and I both hard reset our lives through divorces a dozen years ago. Hard work while scrimping away, living on less than we earn while also paying down hard on the house to have it paid off before I hit 60, we're on a good path towards retirement with a nice base to our retirement investments and a pension plan from my railroad work. But we're relying on no singular path.

If my pension falters and her SS is not there, the 401k will catch the slack. If the 401k bombs out, I have plenty of ammo because in that case the whole of the US failed and it's game time.

I watched my grandpa and his older brother have two entirely different retirements. My grandpa saved, paid off his homes, drove trucks into the ground and invested his money. My great-uncle never saw a dollar he and his wife didn't want to spend. Grandpa retired to a paid off farm with a new truck in the garage, and paid for his brother a single wide on the farmland to take care of him in his poverty. It was a big lesson to me.

 

[chevy_man]

I had a coworker that didn't contribute to the 401K because he said the company match isn't vested for 4 years and he didn't want them to think they could hold it over his head. WTF.

People are dumb.

I will say the current shop I'm working for is cool in that they allowed us to be 100% vested from day one.
100% match to 5%. I'm putting in 15% and getting 20%.

But, I had kids young and they'll be out of the house before I'm 45. House will be paid off at 52, and I'll be able to "retire" at 55 as long as I work a part time job.
But I work with guys having kids in their 40s, only putting away 1%, and taking out 30 year mortgages into their 50s. Some of them are still wearing their tool belts in their 60s trying to figure out how to retire on social security with a mortgage.

 

[Defiantly_Not_Bender]

I have a different take. Ever since after WW II, the international banking cartel pushed the lie that children need to leave the home after graduation. This pushed a larger tax base and debt load on Americans. New mortgages and car loans to keep up with make believe societal expectations. There has been a plan from long ago to build a framework through multiple channels to entrap and create essentially debt slaves to a ruling class. Generational living is the answer and always has been. I am young enough now and understand the nature of the game. I will do everything in my power to create and instill the knowledge to have generational living in as many ways possible. The family is and always was the answer.

 

[Whiskey Tango Foxtrot]

Have been self employed most my life. Never saved until recently. Been investing in dirt as they aren't making much more of it.
As land prices have gone crazy last few years might be hard to do now.
We will see how it goes with my,
Empire of dirt.

 

[jmp1]

We were built to work. You can only sip so many Mai Thais.

This!! Most guys that I know who worked their entire life and just stop......die within 2 years of retirement. Pick up an enjoyable side hustle that keeps both the body and the mind working......it will pay off more than money!