Posted: 10/22/2013 4:55:26 AM EDT
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There have been a couple of threads on SS and retirement in the last day or so. The one thing I keep seeing is the belief that a person a Right to a retirement. Don't get me wrong, a retirement is very nice and I hope to be able to retire at some point. The funny thing is there really was not such thing as retirement just over one hundred years ago. Retirement as we think of it is a new concept. In the past, once you were unable to work outside the home, you lived with your children and worked inside the home supporting the family.
Part of the problem is people think working for 30-40 years is enough. People are living a lot longer now. Living in to your 80's and 90s is common. Most older folks greatest fear is out living their money. Depending on how you plan on living once retired, you need to be saving 30-40% or more of your income ( assuming no continuing income after retirement). This does not really cover increase medical cost (maybe obama fixed it...yeah, right) and assisted living cost. Assisted living cost are insane. Enough of my crazy talk, plan well and good luck. Victoria faveat paratam |
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If you sit at a desk working until your in your 70's might not be a hard concept to deal with.
However if you are a blue collar worker such as a machinist,electrician,plumber etc. I highly doubt your body would hold up to the load. Some would of course but most would not. I plan on getting out at 65 which is exactly fours years from now and look very much forward to stop working. I'm tired. |
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My boss is 80, he has no plans to retire even though he makes well into the 7 figures.
Like OP says, retirement is not a right. If ou prepare for your future (invest and live within your means) you can retire at any age. The question is being a producer or a consumer. |
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Retirement is important for a growing population. It opens jobs for the younger folks who are moving into the economy. Without retirement the economy would have to create as many new jobs as new people. That would be really difficult to accomplish!
I felt that I was contributing to the future of my profession as well as helping a wonderful young family when I retired. And my BP dropped 20 points! |
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I'm 90% Disabled per the US Army, drawing Medical Retirement and SSDI. I've been working since I was 13, that's 28 years.
Can I have your permission to Retire at 41? 
I'll put forth that Chris Ledoux nailed it when he sang: "it ain't the years, son, it's the miles". |
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I am 65 not and still working. My job is so enjoyable that I get up every morning looking forward to going to work. I may retire but if I do it will be because I can't do the job anymore, as opposed to I don't want to do the job any longer.
I could retire tomorrow if I so desired. |
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I'm 90% Disabled per the US Army, drawing Medical Retirement and SSDI. I've been working since I was 13, that's 28 years. Can I have your permission to Retire at 41?
I'll put forth that Chris Ledoux nailed it when he sang: "it ain't the years, son, it's the miles". What can your other 10% do?? |
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I am 65 not and still working. My job is so enjoyable that I get up every morning looking forward to going to work. I may retire but if I do it will be because I can't do the job anymore, as opposed to I don't want to do the job any longer. I could retire tomorrow if I so desired. What do you do that you love it so much? |
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What do you do that you love it so much? Quoted:
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I am 65 not and still working. My job is so enjoyable that I get up every morning looking forward to going to work. I may retire but if I do it will be because I can't do the job anymore, as opposed to I don't want to do the job any longer. I could retire tomorrow if I so desired. What do you do that you love it so much? Systems engineer on an Air Force missile system. Spend much of my time on the ranges out west doing test and evaluation work. |
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I feel sorry for the young dope that replaced me. He/she got hired under a much shittier more sustainable contract.  Quoted:
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I felt that I was contributing to the future of my profession as well as helping a wonderful young family when I retired. I feel sorry for the young dope that replaced me. He/she got hired under a much shittier more sustainable contract. FIFY. 
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The funny thing is there really was not such thing as retirement just over one hundred years ago. Retirement as we think of it is a new concept. In the past, once you were unable to work outside the home, you lived with your children and worked inside the home supporting the family. Part of the problem is people think working for 30-40 years is enough. People are living a lot longer now. Living in to your 80's and 90s is common. Most older folks greatest fear is out living their money. Depending on how you plan on living once retired, you need to be saving 30-40% or more of your income ( assuming no continuing income after retirement). This does not really cover increase medical cost (maybe obama fixed it...yeah, right) and assisted living cost. Assisted living cost are insane. Back then half the country was still farming. The rest were in cities, many stuffed into slums where the life expectancy was about 35 years. You're really comparing apples to oranges I am sure I will find something to keep me busy and a reason to get out of the house. I can't work in my career field past a certain age, and most guys have retired out of my occupation by the age I am already. Many go on to other job fields. I can't see leaving this job to work 2 or 3 other lower paying jobs unless I didn't enjoy this one anymore. I still do enjoy it, so I don't plan on going anywhere. Sooner or later though, they make you leave |
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FIFY. Quoted:
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I felt that I was contributing to the future of my profession as well as helping a wonderful young family when I retired. I feel sorry for the young dope that replaced me. He/she got hired under a much shittier more sustainable contract. FIFY. No they didn't.
Same fund. If it crashes for me it crashes for them too. |
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My boss is 80, he has no plans to retire even though he makes well into the 7 figures. Like OP says, retirement is not a right. If ou prepare for your future (invest and live within your means) you can retire at any age. The question is being a producer or a consumer. I don't believe I'd have any plans to retire if I was making well into the 7 figures either. |
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I don't believe I'd have any plans to retire if I was making well into the 7 figures either. Quoted:
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My boss is 80, he has no plans to retire even though he makes well into the 7 figures. Like OP says, retirement is not a right. If ou prepare for your future (invest and live within your means) you can retire at any age. The question is being a producer or a consumer. I don't believe I'd have any plans to retire if I was making well into the 7 figures either. Theres a lot I want to do before I need a walker to do it. That doesn't include working til the day I drop. There is more to life than working |
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I am 65 not and still working. My job is so enjoyable that I get up every morning looking forward to going to work. I may retire but if I do it will be because I can't do the job anymore, as opposed to I don't want to do the job any longer. I could retire tomorrow if I so desired. Are you the test pilot for Trojan Rubber Co. by any chance?
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My Dad is now 81 and has been working since he was a kid. He was forced to retire by his company when he was 70. He was basically let go with a great compensation plan nobody would argue about. He absolutely hates retirement and says he wish he could work until the day he dies. |
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Theres a lot I want to do before I need a walker to do it. That doesn't include working til the day I drop. There is more to life than working Quoted:
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My boss is 80, he has no plans to retire even though he makes well into the 7 figures. Like OP says, retirement is not a right. If ou prepare for your future (invest and live within your means) you can retire at any age. The question is being a producer or a consumer. I don't believe I'd have any plans to retire if I was making well into the 7 figures either. Theres a lot I want to do before I need a walker to do it. That doesn't include working til the day I drop. There is more to life than working This.... For me work = money. I work to live NOT live to work. Maybe if I had been smart enough to get into a field that I truly enjoyed things would be different. |
| I think people should be able to retire from jobs, but not from work. The "right" you are speaking of refers mostly to people that have financially planned accordingly. Personally, I hope to work until the day I die, just want the work to be something I love (which technically isn't work, it's income). |