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 ...
I'm 43 and have been forced to pay into the system since I was 13 and I've been paying the max for the last 12 years. Basically, I will never see that money again. I could have retired now if all of that money was in the market.
I agree with you but I am resigned to the fact that the program will never be touched until its rotten core collapses upon itself.
I saw the same thing happen.
If you don't have a strong reason to get out of bed in the
morning the END seems to catch up with you much sooner.
We homeschool, so you aren't paying for my children.
My husband used to make enough for us to live comfortably, but for some reason wages within the tool & die trade have not kept up with cost of living.
And no-one, even if you plan well, can account for situations like my husband and I have faced over the last 15 years. As the saying goes Sh*t happens, and sometimes even the most responsible of people can find themselves in unwanted situations.
As for the rest of your suggestions I do understand what you are saying about waiting to have children and such. There are many in society who don't give a thought to things before it is too late...
All of that still doesn't account for the fact that there are greedy people out there who pay themselves far more than what their work is worth.
I don't remember exceptions in my translation; your version may differ. If parents can't be a great example, I suppose they can always serve as a Terrible Warning.
One question is always, "What IS enough?" I find the tables and equations that retirement sites give you to be difficult to work with. My husband and I are realistically planning $1 million in savings/investments when we retire; this is aside from Social Security, paid-off properties, and inheritances. But who knows what's really "enough"?
"Comfortable house should be owned free and clear before any babies."
Wait till I tell my husband that we can start a family when we're 61. ;-D
wow, 90 grand.
Of course, if really young like myself, I may need 90 grand to live like you would live today on 70 grand.
I would not mind working part-time, at least for awhile, after retirement.
Hmmm...well I think they had reasons to get out of bed in the morning. They didn't even get to finish their "to do" lists before doing the traveling thing.
Oh, and making $20,000/year above the cost of living is a bit extreme. How much do you suppose the average cost of living is? What jobs pay such wages, even with a degree? If you are proposing that everyone wait to have children until they reach that level then IMHO we will be sacked with children who need a lot of medical attention due to increases in Down's syndrome and other such illnesses associated with older parenting.
Can you explain please how a family back in the 50s could survive on one income - perhaps someone working at the local hardware store, but now the average family must have two workers?
Most people with high incomes would be happy to help out people who had conducted their lives in a responsible manner, and fallen on hard times through no fault of their own. However, we're getting such a huge chunk of our income confiscated to support every irresponsible jerk that comes along, and to support all the children they keep producing, that we're inclined to hang on to what's left. There's no end in sight to the growing cancer of socialism, and people who are paying a huge tax bill already have every reason to expect that it will keep going up and/or that socialism-driven inflation will wipe out the value of what we've saved. The political yammering about raising the amount we'll have to pay for Medicare coverage has just recently started, and a wealth or income cap for SS eligibility will be next. That raises our taxes retroactively, since sizeable payments we've been making for years, while being told we'd get our full share of the benefits, will have become taxes that get redistributed to other people -- in many cases to people who paid in little or nothing. This is why socialism sucks. Lazy bums reproduce to soak up every available cent in tax revenues, while responsible hardworking people who've had hardships they couldn't control go to the end of the line for help.
Thank you for homeschooling! You have every right to be pissed that you're being hit up for even of penny of taxes to support schools that your children don't attend. I'm sure you could that extra cash.
Well, crap! I thought we were supposed to be outbreeding the Muslims?
Seriously though, this is a pipe dream.
A lifetime of working your butt off means the dues are already paid in full.
If you stay in Massachusetts, you're damn well gonna need that $90K a year.....
BINGO!
subs actually get more per day than a full-time teacher normally.
I also expect to work at Wal*Mart when I "retire" 20 years from now -- Started saving too late.
Commercial Drivers License, According to the rating on the license you can drive commercial vehicles. Mine is Class A with passenger and Motorcycle endorsement.
Means I can drive Tractor-Trailers Charter busses or anything in between. They have one other endorsement and that is fior Hazmat. I had no desire to get that one.It is needed to haul chemicals. gasoline or explosive gases.
Commercial Licenses require a medical certificate to be in your possession at all times while driving, and you must be given a physical every two years. Its every year for school bus operators.
I dont know if these rules apply to the new laws governing Mexican drivers or not. Would be interesting to find out.
No, it's not. Most of the reason your generation is small is because of The Pill. Many of the early Boomers had their kids long before Roe V Wade. The first boomers were 27 years old when Roe V Wade was decided.
What kind of job do you have? Are you one of the movers and shakers of society who make the rules, and are therefore rewarded with a generous pension? Or are you one of the peons, like me, who had to take early retirement and scrounge on a bare-minimum pension, no SS? Just wondering.
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