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 ...
People will soon learn why our ancestors had large families.
While it is true there was no “retirement” the grandparents were taken care of by their children and grandchildren.
Medicare starts at 65 and once you reach full retirement age you can earn as much as you want while collecting.
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I agree. We were married 20 years. I am SO looking forward to taking his Social Security at 62. Before he turned to a life of drug abuse and crime, he earned a LOT of legitimate money.
Bwaaa-Haaa-Haaa!
Boomers STILL think they are teenagers. One day they will retire. Their health will force it. The Baby Boomer Generation never did grow up. Kinda funny.
I think the 401K is a pretty good deal actually. And you should too. Everyone complains about this but then want our Social Security to go into the Stock Market...........too much talking out of both sides of their mouths.
17% of the workforce works for state, federal, and local govt,
Federal pensions are awful.....1 percent per year. It is better to have a 401K. I think people are going to be surprised to see how much money they have in their 401K when they retire. I think the worry is for nothing.
what will happen, what is happening,is that there will be retirement with a job. the “career’ will be replaced by some work that is keeping one’s hand in but not a continuation of what was. It may be some secondary skill or something completely different, but it will be a welcome diversion from golf or other fluff
Some Levites worked in the temple starting at age 20 and by law, quit at age 50.
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flipping government workers.
You get half. If he dies before he reaches his full retirement age, you get all.
Something to think about...LOL
(in the same boat)
People would be well-advised to take a look at their 401K's long before they retire.
Two thoughts:
I always thought I would make an AWESOME widow...
And...if I had shot him back when he deserved it, I’d be out of prison by now!
We’re Tough Cookies. We’ll be fine. :)
I’m not eligable for Medicare at 62. I signed with Medi-Share a few years ago and will continue with them.
Yes, I meant SS.
I just noticed that you’re in Illinois, I am too, Illinois does not tax retirement income........................yet.
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