Ahhh retirement!
Posted on 10/13/2015 12:44:27 PM PDT by 100American
A lot of TV shows unrealistically show people living in middle to high income apartments and consumption lifestyles when they work as a waitress, just got out of college, etc.
It looks great, like travel shows and fancy decorating programs, but it sets up unrealistic expectations that when you finish college, you should have an 800 square foot apartment or 2000 square foot house, new car, fancy electronics and luxury goods while eating out a lot.
I hear ya on the medical and long-term care costs.
That makes it even more puzzling that the $1,000,000 the article says you need at age 65 is only $720,000 at age 70.
“Shortly after his inauguration, I was invited to sit at the stammtisch, the table reserved for family and close friends of the family...quite an honor.”
That’s cool.
My neighbor was a veteran WWII Russian soldier who escaped from the Soviet gulags. (Stalin the monster feared his soldiers who saved the Soviet Union and tossed them away like garbage.) I didn’t need to school him on American values and exceptionalism; it was imprinted on his Christian soul. He loved America and its freedoms and free enterprise.
He worked as a machinist in a factory and saved every penny he could. He’d work 60-hour weeks when the American factories were humming back in the early 1970s. Once in awhile, he’d invite me over for a Russian vodka social at his kitchen table. I thought I could hold my liquor, but he defeated me in drinking events nearly every time.
You are correct.
That along with effective treatment of hypertension and coronary stints.
they are selling annuities
A report like this from the Insurance industry (that wants you to buy their annuities)is like a report from the tobacco industry that claims we need to smoke more.
Just my opinion.
Oldplayer
I agree doom and gloom. who can spend 100,000 a year at age 95. apparel was how much?
Retirement? What’s that?
achieving an early death is an integral part of my retirement plan
Alas I am destined to die in the harness.
Ahhh retirement!
I have been pressured to buy annuities, but not made the move. Can’t put my finger on it, but do not feel good about them. So many variations. I do not think anymore money is needed on my end, so why risk what I have.
Will prolly never get SS to the extent I contributed over the years as an employee and now self employed.
Yes, she is CSRS. I'll have 15+ for FERS, plus SS. We've lived in the same house for nearly 20 years, so there's some decent equity built up.
She knows she's stuck with me, because half of her pension is worth much more than half of my pension...lol.
Good. They brought it upon themselves; let them deal with it.
It helps that my current job sucks, I'm ready to go Galt, and head for Route 66, Southern Utah, and wine country.
Put them back to work and when prosperity really rolls they can go from there...
Agree...
Put them back to work and when prosperity really rolls they can go from there...
Agree...
20's better, but MRA and 10 is a lot better than nothing.
“: limit social security benefits to what you’ve paid in, your employer contributions and whatever’s been earned with that whopping 1% rate of return. That’s it. “
SS is highly socialized, with higher earners subsidizing lower earners.
Looking at the 3 tiers of the SS calculations that use a retiree’s AIME, or average indexed monthly earnings. In the first tier, 90% of your AIME count toward your PIA (primary insurance amount). Those in this tier alone get back more than they paid in, by far.
The 2nd tier drops rather quickly, giving a retiree credit for only 32% of what they earned. Some in this category might get back what they paid in, some won’t. Depends where they are in the earnings range and how long they collect SS.
Those earning in the last tier will never come close to getting their money back, not even just the amount they paid in if not self-employed, much less the total paid in for them by an employer and themselves.
I’m all for your plan since it is like a flat tax vs progressive tax.
That's about what my math showed for early vs late.
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