Baby Boomers Delaying Retirement (guess boomers will help SSN stay alive, and pay their own way)

FoxNews ^ | 09/26/03 | Gail Buckner

[bedolido]

This week, Gail addresses the issue of retirement for baby boomers and discusses a recent study showing more Americans are planning to work into their 70s and 80s.

Dear Readers, Cracks are beginning to show in Americans' eternal optimism about retirement.

[N. Theknow]

Company insurance plans will soon have coverage for funeral costs.

If two incomes are absolutely necessary for survival, how can anyone retire.

Everyone in the small office building where I have my office has been joking for years that it will gradually turn into a retirement home.

It doesn't sound so funny anymore.

[Coop]

If two incomes are absolutely necessary for survival, how can anyone retire.

That's the thing. They're often not necessary for survival. They're necessary for two cell phones, a minivan and SUV, a DVD player plug into the large screen TV, a game room downstairs, etc.

If folks want to make these choices, let 'em! That's what's great about America.

[N. Theknow]

That's the thing. They're often not necessary for survival. They're necessary for two cell phones, a minivan and SUV, a DVD player plug into the large screen TV, a game room downstairs, etc.

Those things are gradually replaced by visits, birthday and Christmas gifts to kids and grandkids. There is always something that eats every dollar.

[newgeezer]

guess boomers will ... pay their own way

Only if you believed Algore's "lockbox" BS. ;O) We may pay in enough to 'justify' whatever we get out of it but, as long as SS is running, it's only doing so on current revenues.

[ClearCase_guy]

Coop is correct. It's all about choices. I live in Mass, (very expensive, high taxes). I have 2 children (one in private school, one too young). My wife stays at home -- my income supports the family. We spend as little as possible, and I am able to save money. My income is not huge, but I make smart choices. I expect to retire at a reasonable age (I have no expectations of SS).

[yellowdoghunter]

One would think that the AARP would want social security to be solvent by allowing younger people to invest some of their money. If the AARP supported privatizing some parts of SS, it would happen!

[Coop]

Those things are gradually replaced by visits, birthday and Christmas gifts to kids and grandkids. There is always something that eats every dollar.

Rarely are they replacements, but rather supplements.

[KC_for_Freedom]

If folks want to make these choices, let 'em! That's what's great about America.

Good comment Coop, I never intended to work longer than I had too, as a result, I saved and planned for early retirement. My wife and I live in a travel trailer, our son is going to Auburn (War Eagle) and if things get tight, we can easily reduce expenses by not driving as much and picking cheaper parks to stay at. (Not to mention less eating out and the possibility of boondocking.) But if it came to giving up my satellite internet connection, I would probably take up a part time job.

The friends I left at work are staying for the money, the fact that they are at their peak earning power, and the health insurance. BTW, private insurance in retirement cannot be deducted from taxes, (as it can while employed) and its the most expensive part of my retirement. A big arguement against national health insurance is that this would allow many people to retire and have the government pick up the cost of their health insurance. It may put too many people into retirement at the same time, and would make us far too dependent on the government.

[Coop]

Sailing the highways of America, and loving it.

Well, whatever view you're looking at certainly can't compete with these cubicle walls straight out of Dilbert.

Adopt me! Please!!

[y2k_free_radical]

I am well off financially but i want to work until i am disabled or told i am not competent anymore

[eeman]

I'm like you. I anticipate that I could retire very comfortably by the time I am in my mid 50's. However, I have seen too many people who let their brains rot after they retire even if they are moderately physically active. I think being obligated to show up some place and have your chain pulled occasionally does wonders to keep a real-world perspective and your IQ maintained.

[KC_for_Freedom]

Well, whatever view you're looking at certainly can't compete with these cubicle walls straight out of Dilbert. Adopt me! Please!!

Well, I have had 26 years of laughing at Dilbert and realizing how closely he described my job in Aerospace. But now my wife and I have a 34 foot Airstream, and have left California for the rest of the country. (We started planning about five years before we made the move. Lots of luck to you and yours.)

[BureaucratusMaximus]

If folks want to make these choices, let 'em! That's what's great about America.

Yeah, and its great when you and me have to pay for these choices too. (through social security, bankruptcy, welfare, etc.)

[anotherdubya]

"there aren't enough Gen-Xers to meet the demand for workers"

I have often wondered if there is a connection between the lack of Gen-Xers and the number of abortions that have occured. Are we killing off our furture work force?

[Coop]

Thanks. :-) I'll manage to survive somehow. [sob]

[patton]

LOL. I thought you were retired? (ROAD?)

[Coop]

BOOMM is more like it.

[undeniable logic]

I don't understand the urge for people to retire in their 50s - maybe because I am only 25. If someone is going to live until their mid to late 70s or perhaps their 80s, what exactly do they plan on doing with 20-30 years of their lives? I would think it would become extremely boring, especially for those that were hard-working and ambitious. My father is 58 and retired last year (he was self-employed and retired early because his manufacturing business dried up). He is already getting bored. How much travel and how many vacations can you take?

On the other hand, my grandfather is 93 and worked until he was 89 as a carpenter. He lives in Israel. I don't know that I would ever want to fully retire. Maybe once I am in my 60s I will try to find a way to work 20 hours a week. One thing is for sure, I don't want to let me brain deteriorate due to lack of use.

[skeeter]

With me, its a question of working for someone else - don't wanna do it one day longer than I have to.

But no retirement in the classic sense - gotta find a way to do something to make a little money on my own before I'll seriously consider leaving my current profession.