# If you plan to retired with peace of mind??



## readytogo (Apr 6, 2013)

Read this, and start saving now.
The world braces for retirement crisis.
http://news.msn.com/world/the-world-braces-for-retirement-crisis


----------



## Geek999 (Jul 9, 2013)

That article is quite correct. The best plan is to work as long as you are able.


----------



## TheLazyL (Jun 5, 2012)

_"If you plan to retired with peace of mind??"_

I don't have a peace of mind while I'm working! So why should I expect to have one when I retire?


----------



## Tweto (Nov 26, 2011)

If you think all you have to do is work into your 70's, then think again.

Here is what they are not saying, with high employment and a looming financial crisis, the majority of the businesses will be looking for hard working younger workers to get the most bang for the buck. I can easily see companies using various methods to get rid of the older workers and replace them with the 30's and 40's somethings.

A majority of the older workers will be left with the minimum wage jobs, if you are lucky enough to get one and be in good enough shape to still work.


----------



## Woody (Nov 11, 2008)

Tweto said:


> If you think all you have to do is work into your 70's, then think again.
> 
> Here is what they are not saying, with high employment and a looming financial crisis, the majority of the businesses will be looking for hard working younger workers to get the most bang for the buck. I can easily see companies using various methods to get rid of the older workers and replace them with the 30's and 40's somethings.
> 
> A majority of the older workers will be left with the minimum wage jobs, if you are lucky enough to get one and be in good enough shape to still work.


You are reading from one of them. At just this side of 60 and with plenty of experience, I am pushed aside for younger, hungrier folks. No, none of the companies will state that outright, that would be discrimination. I am willing to put in my 40 hour week, for a good salary, younger folks are more than willing to put in whatever it takes to keep that position. No, they are not looking for a lifetime position, as people of my generation did. They are just looking for a year or two here them moving on to the next 'job'.

I saw it when I was actively employed and watched 'older' employees have to train someone to take over their position. They lasted a year or two then moved on. I trained my replacement, BOTH of them.

Top management saw it as a good thing, saving on fixed expenses. Those of us left saw it as horrible. Losing someone who KNEW the job and what it took to get it done, replaced by someone who could just barely get the job done. Things did not go near as smooth and ALL of us left had to work harder to smooth out the details. Bottom line looked great, for those of us left, we had to cut corners to get things done. What took us a 40 hour week to accomplish now took a 50 hour week to get scraping by. Everything suffered except the investor's share.

What happens next? Buyouts and mergers! THREE times the company I was with was bought out. We went from a very stable, cash rich organization to someone worth scraping up for peanuts, 'reorganizing' and getting set for the next 'merger'. The next 'merger' is only a year away for them. They were already setting it up as I was leaving, we all knew it. We were setting up the books to make it look profitable to happen. NO, nothing illegal!!!! All above board!!!!! But, if you know finance, accounting or statistics, it is only a matter of which column you put the entry in.


----------



## helicopter5472 (Feb 25, 2013)

I'm still going to collect SS at 62 and work PT and keep within the SS guidelines so I don't go over hours. I will also do some under the table jobs as needed.


----------



## crabapple (Jan 1, 2012)

A co-worker just retired with $1489.00 in pinion & $1456.00 in SS.
These are rough figures, he said almost $3000.00 a month, not counting a 401K-plan.
I feel the land, timber & shack is my best investments, so I am not worried that I may have
only $3000.00 coming in from the Gov & company, if TSHTF does not cut it loose from me.
I am going to grow most of my food, until I can not get out to take care of it.


----------



## Woody (Nov 11, 2008)

Shit, $1,500 in SS a month! Heck, I could live well on that!!! I'm surviving on $700 a month from savings only, and it will be $400 once the heat bill cuts off in the spring. That includes mortgage, taxes and all. I could afford to start drinking store bought liquor with that cash flow! What is a lease on a Lexus these days anyway? Maybe I could have a couple of them bad boys.


----------



## dirtgrrl (Jun 5, 2011)

Hell no I'm not working until I'm 70! I'm going to have both home and homestead paid for at 60. I'm cashing out my Thrift Savings Plan (govt version of 401K), taking my small annuity and then consulting on the side. So if work is "what a body's obliged to do" I'm retiring at 60. But I'll still be taking advantage of money-making opportunities if I feel like it. I'll start taking SS at 62 because it's not worth waiting until my full retirement age (almost 67) just to get a few more bucks. Do the math; it takes many years to make up the difference between starting earlier at less and starting later with more. I'd rather have the bird in hand ... because neither I nor the Social Security System may live that long.

The kids are gone and I am at my highest earning level so I have plenty of disposable income. Instead of of going on expensive vacations and buying a new car every year (because I deserve it, you know) I started paying down mortgages and other debt. I did not bail out of the market after the crash of 2008 and have recouped everything and more. I did not borrow against my home equity or retirement plan. I live simply in the same house I've had for 20 years. I will continue to live simply after retirement doing a lot of the same things I do now, except that I won't spend 40 hours a week beating my head against a wall. I will probably splurge a bit and do some traveling, but nothing extensive. I'm the homebody type anyway.


----------



## tsrwivey (Dec 31, 2010)

I suppose this crisis will be used to take over everyone's retirement money in private retirement accounts. Whatever they do, you can rest assured they won't allow a crisis to go unexploited. They'll find a way to take my money & distribute it to people without my work ethic or frugalness, after they get their cut of course. I'll watch it burn in the front yard first. Retiring in a foreign country is probably something we should be looking into.


----------



## Geek999 (Jul 9, 2013)

tsrwivey said:


> I suppose this crisis will be used to take over everyone's retirement money in private retirement accounts. Whatever they do, you can rest assured they won't allow a crisis to go unexploited. They'll find a way to take my money & distribute it to people without my work ethic or frugalness, after they get their cut of course. I'll watch it burn in the front yard first. Retiring in a foreign country is probably something we should be looking into.


I've suggested that I might retire to a different country and it has gotten mostly negative reaction here.

I'd like to find a place that was 1) affordable, 2) low taxes, had 3) high quality medical care and was 4) relatively safe, and allowed me to protect myself further.

The People's Republic of New Jersey is 0 for 4. While the various states differ, I figure the US as a whole fails on taxes at the Federal level, and Obamacare is going to wreck the healthcare system. If I find a foreign country that gets me a nice balance of those 4 criteria I am going to look at it very seriously. Most places seem to come up short on one or more of those criteria.


----------



## tsrwivey (Dec 31, 2010)

Geek999 said:


> I've suggested that I might retire to a different country and it has gotten mostly negative reaction here.


I guess, in reality, I will retire right here in east Texas. This is where my kids are & where our future 40 grandchildren will be.  I wouldn't make a financial decision that would separate me from them. I will do whatever it takes to make sure I keep what I've earned. We took most everything out of retirement accounts several years ago & have no intentions of putting it back in. I guess it's a game of seeing the writing on the wall & preparing to benefit from it. (Or at least keep it from hurting too bad.)


----------



## Geek999 (Jul 9, 2013)

If I were in your position I would probably do the same. Under the circumstances I guess I should add a number 5, easy for my children to visit or follow.


----------



## readytogo (Apr 6, 2013)

Geek999 said:


> That article is quite correct. The best plan is to work as long as you are able.


Correct and stay debt free.


----------

