Posted on 02/27/2015 1:43:11 PM PST by Lorianne
Many Americans appear to be giving up on retirement.
Just over one-quarter (26%) of Americans have a traditional notion of retirement in which they plan to stop working altogether when they reach retirement age, according to a new survey of 7,000 households — “Americans’ Financial Security: Perception and Reality” — released Thursday by The Pew Charitable Trusts. Asked about their retirement plans, 21% said they are never planning to retire, while 53% anticipate doing something else, including working at a different job.
Roughly 10,000 baby boomers reach retirement every day, so it’s not unexpected that so many of them are either not willing or able to stop work altogether, says Andrew Meadows, a San Francisco-based producer of “Broken Eggs,” a documentary about retirement. He spent seven weeks traveling around the U.S. and interviewed over 100 people about why they haven’t saved enough money. “You tend to get a negative tone when you talk to people about retirement,” he says.
(Excerpt) Read more at marketwatch.com ...
I plan on retiring at the age of 51 years old. However, I can do that, only because I work for the government. Plus, saving money like a mad fool.
People without jobs do not retire — they already are, without an income.
so he retired at 57...
my sil was teacher and retired at 57....
its nice to be able to retire knowing that you have a guaranteed fat check every single month plus medical to cover you for the rest of your life basically..
govt workers and old time unionists got the windfall and the rest of us get the shaft....
You load sixteen tons, what do you get
Another day older and deeper in debt
Saint Peter don’t you call me ‘cause I can’t go
I owe my soul to the >GOVERNMENT< store
Only government employees can afford to. The rest of us have to work our butts off to provide for their retirements.
Funny, 21% is pretty close to the number of government employees including teachers and such.
When does the revolution start? I’m ready to join it.
I’d keep my head down if I were you.
Your good fortune, all of it unless you have a side job, is thanks to people who will work the rest of their lives to provide you benefits.
**Plus, saving money like a mad fool.**
0bama has something for you.
Unless you are terribly disciplined from the git-go, and nothing BAD ever happens to you, it can be tough.
I was on track to retire next year, but the ex ran through our retirement funds (without my knowledge) and now I have ten years of Hard Labor ahead of me.
Luckily, I am blessed with a job I love and ‘options,’ but it STILL p*sses me off!
Will on first day eligible for me. Minimal overhead here. Git it befo it be gone
Can’t recall a whole lot of indolent retirement in the Bible.
The Patriarchs and the common people alike generally worked until they dropped.
I’m retiring as of today!!!! Yay!!! I signed up for SSI last year so it will start next month. I am 62 so it is the earliest I can take it.
How does Medicare work on early retirement. A few friends are more concerned about Health insurance than income.
How much income are you allowed to make while collecting SS? The rules change on this from time to time.
I retired at 54 and did not work for the government
I take that back, I worked for the government for 4 years, starting pay was $69 per month. Can you guess what government job paid that low starting pay?
Some Levites worked in the temple starting at age 20 and by law, quit at age 50.
I think you meant S.S. and not S.S.I.
Helpful hint - If you have military time, take your DD214 with you to the S.S. office, it will give you a small raise. I got a whooping $13 monthly raise for 4 years of active duty.
I'd rather have it than not.
How early do you have to apply for it? I’ll be 62 in October so when should I sign up?
25% plan on retiring, 17% of the workforce works for state, federal, and local govt, so basically they are the only ones that will ever be able to retire. About 8% of the ones involved in production plan to retire, probably 2/3 of them won’t be able to afford it, while the govt employees they support get full insurance, pensions, etc.
You can do it on line or go to one of their offices. Six months should be okay.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.