Posted on 10/16/2006 4:26:06 AM PDT by shrinkermd
"...He’s not alone. According to a 2005 study by the Boston College Center on Aging and Work, traditional retirement where employees totally stop working may never happen for most baby boomers. Instead, the study suggests that 50%-66% of retirees will be vying for bridge jobs, parttime or short duration work for at least five years after retirement...
(Excerpt) Read more at epaper.investors.com ...
Well, the ideal situation would be for us to find a Catholic school that will make us a deal where the wife and I fill one "full-time slot" (we're both PhD chemists--and Catholic), with each of us working half-time.
Ping list for the discussion of the politics and social (and sometimes nostalgic) aspects that directly effects Generation Reagan / Generation-X (Those born from 1965-1981) including all the spending previous generations (i.e. The Baby Boomers) are doing that Gen-X and Y will end up paying for.
Freep mail me to be added or dropped. See my home page for details and previous articles.
Life span has changed! When social security was set up, 65 was picked because few people lived longer than that. Now a large portion of the population is living into their 80's, 65 is simply no longer a viable retirement age. Their employment choices merely reflect this fact. I don't believe at any point in history, a society has been able to support 20 years of retirement for the majority of the population.
Traditionally, there was no retirement age, people just worked as long as they could.
I plan on working as health permits until I am 70. I do not expect to live much longer than that (family history) and the extra years at work will let me save more for my wife (family history suggests that she will live into her 90's). If I expected to live to 85, I would plan on working until I was 75.
Social Security as we know it should have been dismantled a long time ago. It was a good idea at the time since, as you said, there was no such thing as pension years ago. It should have been a temporary thing -- a way to get people started on saving for their old age. Instead, it has gone on far too long. Too many people relied on it (and still rely on it) rather than trying to save for their old age on their own. Once the baby boomers are gone, there won't be enough to contribute to SS and it will eventually be gone on its own. But it's a shame that for all the years we had money taken out of it for this pyramid scheme, we could have taken that money, invested it on our own and retired comfortably.
Dittos here.
I "semi-retired" 7 years ago (age 51). After a career in the fast lane, I left to work for myself, part time. I have a degree in accounting and started a little book keeping business. Started out with 3 clients, but one grew to the point that his work pays me enough to pay all my bills. I work "full time" (5-6 hrs a day) 2 weeks of the month. The rest of the time is variable, depending on the season. My time is fully flexible except the second week of the month---when I pay bills, taxes, etc. I take long trips and can adjust my work to fit my schedule.
After a couple of years I joined with my sister buying old houses for remodel and resale. I now do about one house a year---my profit varies from $5k to $35k per project. This pays for my travel. I am starting to tap my retirment funds a little and will do so until age 62 when SS kicks in.
For younger persons contemplating "bridge jobs", you might want to consider getting an accounting degree or some other qualification that gives you a "skill" you can sell. It sure worked for me.
CDL?
Commercial driver's license.
KMA club.
Sounds like a good organization, how much are the dues?
He doesn't walk too fast anymore, but his mind is as sharp as ever.
well stated; jus hope gubmint won't raise taxes to pay for hordes' expectations in healthcare, etc.. at a cost to those who've 'got the bread' through industry or luck.
I retired last April (cop 32 years) and have a great retirement. I've have been offered many jobs, part and full time, but turned them all down. It's good to know those jobs are there if I change my mind.
My dad finally got off his retired butt and got a job driving a taxi at the airport in Richmond to suplement his retirement. He was the typical govt slug who retired as soon as he could. My mother retired soon after so that they could travel around the country in an RV. Well, retirement is not great when your only income comes from SS and a state govt pension. My mom still wants new things, now that she sees how well I am doing. The RV adventure finally ended and now they have to deal with their choices of expecting the govt to take care of them.
Hmmm...my parents saved for retirement.
They died within two years after retiring.
I think I'll need a bridge job if I want to keep living.
I also think that working helps people to stay married in retirement. Too many men come home with nothing better to do but screw with the wife's domain.
Bad idea.
I plan on retiring in my 60's but I expect to find something to do for both my sake and my wife's.
I'll have to find something to keep from being bored to death.
Tell me about it... but there's still room in the safe.
If you ever get really serious about it, you need to make some calls. My school district (which does not include any Catholic schools) would be delirious to get a deal like you have to offer.
Are your parents aware of your deep contempt for them?
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