Posted on 07/18/2018 7:45:57 AM PDT by C19fan
Millennials may have only a little saved for retirement, but they still want to retire early.
A recent Bankrate.com survey asked millennials, classified as Americans ages 18 to 37, what the perfect time to retire would be. Their answer: 61 years old.
(Excerpt) Read more at cnbc.com ...
I recently watched a British series about people leaving the UK to live on the Continent. It wasn’t made in the last year or two but it was fairly recent.
One couple wanted to move to a particular area of France. The program arranged for them to meet another British expat couple who lived in that area. They had, I think, a vineyard or maybe an olive orchard.
One question that the wannabe couple asked the expats was about the tax rate.
The answer was “Oh, around 50%.”
Eeeesh!
I'll just call it a hobby and won't worry about getting paid as much for it. LOL.
“Easily 30% of millennial kids are not even fully employed, and perhaps 75% or more are not.”
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Where did you get those figures?
.
Possibly that is an unfair assumption.
I hate the word retire, it sounds like you’re being put out to pasture. I’ll never stop, I may not always work full time but I’ll never stop working and I’ll do what I want and pursue dreams I have when I’m not as constrained by paying the bills.
That’s how people stay alive, having a purpose in life. If you no longer have a purpose and sit around all day you’ll be dead before long.
The only thing you have to worry about is them taxing you into poverty. This socialism movement is real and it must be stopped.
As more cities sign onto the ‘guaranteed income’ bandwagon, the millennials probably think those will continue for the next 4-5 decades.
As the pool of beneficiaries on the ‘guaranteed income’ increases, the ‘guaranteed income’ amounts will have to decrease. As Mrs. Thatcher said, ‘socialism is fine until they run out of other peoples’ money.’
I suffered a number of setbacks in my younger days, and never got a chance to start saving until about fifteen years ago. But between my insistence on saving, and my wife's insistence on paying down debt, we've managed to put away a fairly nice nest egg, and are debt-free, including our house.
Life. I pay attention. There have been numerous articles on the subject. Go google for them. Do some research.
I think that the key is to have a good plan for what you're going to do. "Putter around the house, maybe travel some" is a start, but not a very good one.
Yeah, that was one (of thousands!) of the reasons I voted against Hillary. Figured that someone as greedy as her would make a grab for our retirement funds.
For our own good, of course.
I told my daughter I am going to try and spend every dime. The only thing she will be receiving is the house....and that’s only if I go before Hubby. If he goes first the house is SOLD! and I’ll be living on or by the beach somewhere.
She said good!
Exactly. If you avoid debt, live well within your means, and save and invest regularly, it adds up. Once in a while I hear Dave Ramsey’s radio show when he takes calls from millionaires — regular folks who worked hard, lived modestly and saved/invested regularly. Before long it all adds up to $1,000,000. Anyone can do it. My latest mutual fund quarterly reports were quite nice.
Reality is going to hit them when they realize ALL of the people on disability and long term Social Security have sucked ALL of the available money out of the system.
Their retirement age will be something like 75.
How the baby boomers go to their graves without having to reconcile what they have done to this country is beyond me.
In 2030 they will be toasting these old people for heat.
At first he did some consulting but then he got into genealogy and, of all things, flower gardening. Those filled up his days for 20 years until his death a couple of years ago at age 80.
Mom and Dad and their older siblings have already spent any inheritance that would be left to their children.
My 88 year old mother is going through almost $13k a month in a nursing home. How much of her inheritance is going to be left.
They (the greatest and silent generations) NEVER thought they would live this long. My 95 year old MIL tells me that a couple times a week. She also thinks she’s been going to mass every week (she stopped when she turned 90.)
The entire financial burden that the country is facing is way out of whack with the plans that were put in place since the 1950s.
No wonder the elites are planning for a huge war or epidemic to wipe us all out. Its coming one way or the other.
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