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Old 09-09-2012, 11:24   #61
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Re: The Golden Years: Myth or Reality?

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Originally Posted by TomandAnitas34 View Post
My Uncle is in that situation. His SS is like $650 a month.

Mine is around that too after medicare premium -- but I never planned on using only SS.

I think (having been hit with some *huge* medical bills before medicare) that people have to do some financial planning. Our 401k saved my life when I developed cancer without health insurance. It performed very well over the long haul. Of course it was set up decades ago with matching funds from my husband's employer. There are fewer and fewer good retirement packages out there for employees.

I am completely in agreement with the idea of pursuing your dreams when you can, but be realistic. The money you need to retire on will not magically appear because you need it. Just look around any Wal-Mart, Publix or Walgreen's in Florida and you will see plenty of people who either needed to go back to work or couldn't afford to retire.
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Old 09-09-2012, 11:30   #62
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Re: The Golden Years: Myth or Reality?

are you other geezers opting for SS at 62 or waiting until you reach 70?

I'm turning 62 in a couple months and have been wrestling with this. Of course I'd prefer the bigger checks in 8 years, but I don't think I trust the US government as to where SS will be in 8 years.

Something in me says 'take the money and run'.

Hey, it would pay our slip rental, anyhow.
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Old 09-09-2012, 11:50   #63
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I am 57 and will retire in 48 months 5 days if I finish my DROP plan. NOT THAT I AM COUNTING mind you.

My intentions are to take SS at 62. This may result in less money IF I reach well into my 80's. But I am taking the "under" side of that over/under line. If I am wrong and live into my 90's, my liquor, golf and entertainment expenses will be lower so I can cut costs there .

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Old 09-09-2012, 12:12   #64
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Re: The Golden Years: Myth or Reality?

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Entering the job market at 70 to work where? Only so many walmart greeters careers to go around.

Besides, remember that awful feeling of the alarm clock going off, telling you to get ready for work? Think about how that would feel at 70?

Better to work while you can, and keep the apple cart behind the horse.
Rebel Heart and others have already demonstrated that the financial cave-in, shortsighted trends in hiring, stone-age policy re health coverage, and general economic uncertainty have just about wiped out the concept of "retirement" as understood by the baby-boomers.

Expecting the worst, we've broadened our 'retirement' goal to be living where we want to, doing what we like to do, and that is broad enough to include working at something we enjoy. My wife has already escaped to working as a professional cook, something she adores and that she can do for a long, long time. I've started amassing experience and certifications in boat-related trades, and in a couple of years when our financial goals are met, I plan on backing out of my high-tech career and into boat maintenance or similar, and hope to do that, even part-time, til I drop.

Most trades and service jobs are going to be hurting for people in the short to medium term, and older workers will be important in filling those positions. With a little planning, anyone can acquire another skillset that will keep them out of the 'last-resort' sort of job.

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Besides, remember that awful feeling of the alarm clock going off, telling you to get ready for work? Think about how that would feel at 70?
When you're doing what you want, that alarm clock isn't your enemy it's your friend. That's been a key yardstick of my entire life; if the rut really gets to me, it's a signal that I'm not doing what I was meant to do, and it's time to start searching again. So, no one should feel that awful feeling in the morning, retired or otherwise.

I know that many retired people miss the sense of purpose they had while employed, and also I think the 70 year old is better equipped than young people to enjoy the social aspects of an entry-level or undemanding job. Many retirees take on hectic schedules as volunteers just to stay involved in something.
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Old 09-09-2012, 12:15   #65
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Re: The Golden Years: Myth or Reality?

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I don't know anyone my age with a pension plan except for guys in the military. And even with a pension, there were pension funds that went broke in the last economic bust. Or inflation could kill it. Just way too hard to believe you can bank on anything except your abilities.
Although I don't have any pension other than the Canadian equivalent of SS, by son works for a utility, which has been around for almost 100 years, and probably will be for the next 100. He knows he is in a good spot, even though there are other areas he could make more immediate dollars in. Glad he will have an easier time than me - isn't that what we all hope for our kids?
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Old 09-09-2012, 12:15   #66
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Re: The Golden Years: Myth or Reality?

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We are told in our culture when we are young to work hard, save our money and when we retire we will be able to do all the things we couldn't do when we were young since we will have both the time and the money. Are the Golden Years a myth or reality-- especially as it relates to sailing?

Goldern Years = Myth

Nothing is ever going to beat being young AND having money! If I could pick any combo I think I would go for 35 and rich! Still pretty young and can do pretty much anything one is able, have enough life experience, and if you had money it would be perfect!
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Old 09-09-2012, 12:19   #67
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Re: The Golden Years: Myth or Reality?

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I am 57 and will retire in 48 months 5 days if I finish my DROP plan. NOT THAT I AM COUNTING mind you.

My intentions are to take SS at 62. This may result in less money IF I reach well into my 80's. But I am taking the "under" side of that over/under line. If I am wrong and live into my 90's, my liquor, golf and entertainment expenses will be lower so I can cut costs there .
My thinking is that IF I make it to 80, I'll be happy to do ANYTHING, and that includes flipping burgers. In the Florida Keys We don't have kids, so I'm perfectly content to become society's problems at that age anyway. Soylent Green, anyone?
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Old 09-09-2012, 12:19   #68
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Re: The Golden Years: Myth or Reality?

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are you other geezers opting for SS at 62 or waiting until you reach 70?

I plan to take mine at 62! If I don't need it I will bank it! Since the money amount is a gambling bet about how long you will live, if you put it off you are gambling that you are going to grow old longer and if you are wrong you just screwed yourself. And getting to be an older age isn't the same thing as living in my mind!
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Old 09-09-2012, 13:11   #69
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Originally Posted by avb3

Although I don't have any pension other than the Canadian equivalent of SS, by son works for a utility, which has been around for almost 100 years, and probably will be for the next 100. He knows he is in a good spot, even though there are other areas he could make more immediate dollars in. Glad he will have an easier time than me - isn't that what we all hope for our kids?
Sort of but mainly I want to prepare my kids and arm them with the knowledge and skills for the war that is life. Too many curve balls, including their own desires, for me to get a lot more concrete than that.

Flexibility, hard work, smarts. Best things I can steer my kids toward.
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Old 09-09-2012, 13:56   #70
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Re: The Golden Years: Myth or Reality?

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Sort of but mainly I want to prepare my kids and arm them with the knowledge and skills for the war that is life. Too many curve balls, including their own desires, for me to get a lot more concrete than that.

Flexibility, hard work, smarts. Best things I can steer my kids toward.
Agreed. I think the most valuable thing I taught my kids was that they were always to try and be in the position where THEY can make choices. After that, it is up to them... they have to live their own lives.
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Old 09-09-2012, 15:59   #71
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Re: The Golden Years: Myth or Reality?

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Agreed. I think the most valuable thing I taught my kids was that they were always to try and be in the position where THEY can make choices. After that, it is up to them... they have to live their own lives.
Something that today's young people need to learn is Thrift. The people that are having the most difficulty in the current times are those that lived up-to or beyond their incomes during the booms without preparing for the busts. Instant gratification seemed to be a watch-word until the fit hit the shan and now, absent income, or credit, many are suffering and loosing the things they brrowed so heavily to buy.

We went through the crash arising from the Carter administration in the '70's and with that, said never again. We learned to live on about half our income since, an amount that was far greater than what we had in total when we were younger, and, as a consequence, have been able to weather the current economic difficulties with relatively little change in our lifestyle. The same will hold when we both quit working completely, although, truth be told, we enjoy work and shall likely always continue doing something worth while.

As for the "Golden Years", I don't know who coined that term. For us, the Golden Years were when we were younger and had a little girl at home to care for and a little boat that, when stufffed with kids, dogs and toys, was a heck of a good time. Those hours were golden. We didn't have a lot but we were always greatful for what we had and thought we were very lucky compared with others. We continue to be "lucky" and count our blessings, but our house is a lot quieter now, and much of it unused, and somehow that is sadder. Fortunately for us, our daughter has learned some of our thriftyness and likely will do quite well in her own time, and that's the best payoff for our "Golden Years".

FWIW...
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Old 09-09-2012, 16:01   #72
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Re: The Golden Years: Myth or Reality?

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Originally Posted by Canibul View Post
are you other geezers opting for SS at 62 or waiting until you reach 70?

I'm turning 62 in a couple months and have been wrestling with this. Of course I'd prefer the bigger checks in 8 years, but I don't think I trust the US government as to where SS will be in 8 years.

Something in me says 'take the money and run'.

Hey, it would pay our slip rental, anyhow.
I'm doing the 62. If I do the numbers, it pencils out for me. I'm a few years from that now and I am going to work one more year (if I can find a job that is) and take off for 2 years. Then come back for one year and retire back to voyaging. At least that is the plan. I wanted to go early in life but responsibilities held me back (kids). Then it was medical issues. Now everything is paid off. I'm renting out the Casa next month, moving aboard and working for a year as mentioned earlier. It's never too late but go when it's time.
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Old 09-09-2012, 16:20   #73
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Re: The Golden Years: Myth or Reality?

Do it now. There will always be a reason to wait - too little money, too little time, too old, too young, whatever. The only certainty is that there is no certain tomorrow so do it now and do it hard. If its important you'll figure out a way. If its not important then it doesn't matter.
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Old 09-09-2012, 16:22   #74
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Re: The Golden Years: Myth or Reality?

life is a series of adventures. adventures are meant to be lived. golden years=MYTH.
lol.
i would have to have worked to 72 to get out of social insecurity over 1100 dollars per month. ouch. is a few years off yet. instead, my body was broken......oh well--now i get to do with disability that which most get to do in retirement, only with a few challenges--
i am most fortunate to have been able to work in my former profession as long as i was able to work in it, considering i am one of the rare reynaud's disease gene owners. has been interesting and most challenging. worth every minuet. if i had been diagnosed in my childhood, i would have been prevented from being a nurse...so i am glad the diagnosis wasnt until i was already 48. .

so far, life has been awesome. cruising under sail only makes it better.
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Old 09-09-2012, 16:38   #75
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Re: The Golden Years: Myth or Reality?

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One of the toughest issues, for many and for me, is that my spouse is nearly uninsurable and so until she reaches 65 (I'll be 68), insurance is a major problem. From my perspective, this is the greatest problem with our health care system; if we were not married her life would be a tough struggle to maintain a full time job, regardless of health issues, just to maintain insurance. Our system doesn't provide a middle road, for people who could work part time, for example.

But I love her.
In my chapter are several pages but this is one I have also............
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