Beware of Retirement

[El Diablo 4232]

1 hour ago, Cheeseweasel said:

"Millennials have destroyed retirement"

Face it, once people have it in their heads that they're entitled to quit work and rest on their laurels, regardless of their economic contributions or personal responsibility, it gets a bit dicey.

[Onboard 2.0 9083]

3 minutes ago, El Diablo said:

Face it, once people have it in their heads that they're entitled to work once they graduate college regardless of their economic contributions or personal responsibility, or experience  it gets a bit dicey.

Kind of a more accurate depiction of the millennial creed.

[El Diablo 4232]

7 minutes ago, Onboard 2.0 said:

Kind of a more accurate depiction of the millennial creed.

Colleges are a big business and many are used car salesmen. It pays to be an informed consumer too. There's some culpability for both parties.

 

[Macanudo 12979]

2 hours ago, Celery Man said:

They sound pretty fucking stupid.

No. it sounds like typical C-level BS.  Those guys are so far removed from the day to day employees it's not even funny.

[ShaggyBevo RIP 3868]

1 hour ago, Macanudo said:

No. it sounds like typical C-level BS.  Those guys are so far removed from the day to day employees it's not even funny.

Pretty much always the last to find out the rank and file hate working there.

[RayDog 682]

9 hours ago, ShaggyBevo RIP said:

U is Ray Pugh.

No I am not.

What does puzzle me why you are opposed to having sex with beautiful young (but legal aged) women?

Do you go into a club and look for old and unattractive women? Are you opposed to having sex? Are you into young men and find women unattractive?

Of course, those are all ok things but I don't think they apply to most of the men who post here.

 

[skipperj 377]

lolpugh

[DaysOff 7951]

Problem is those with the self-elected retirement schemes don't often save sufficiently.  
Social responsibilities and whatnot....

So many social engagements, so little time.

Stop going to doctors dipshits. Problem solved.

[Nice Guy Eddie 13515]

On 5/30/2018 at 12:53 PM, Armybrat said:

Why take on a 30 year note with rates so low? 15 is the way to go for younger folks nowadays. Two of my sons did that several years ago and will have theirs paid off 10 years before retirement age rolls around.

Upgrading the "old" house? #2 son does that for a living, so it won't be that much of a burden.

#3 son (blue collar tech guy) went for a 30 year loan 6 or 7 years ago, but his payments are less than a 1 bedroom apartment in a low rent Austin 'hood. Unfortunately his house has appreciated 100%+, so his taxes are heading upwards.

Not sure I agree with the first sentence. The lower the rates why not take the free money from the bank for a longer period    Sure you need to ensure you can pay off the house much faster than 30 years but that’s only takes discipline. If you don’t have that I agree that you should pay off the house ASAP.  Personally  I would rather keep the money in my pocket or investment accounts.  

But the key is to plan and then to follow that plan. 

Edited June 5, 2018 by Nice Guy Eddie

[skipperj 377]

Because people have no discipline.

[El Diablo 4232]

13 minutes ago, skipperj said:

Because people have no discipline.

That's not entirely true.

 

[burntorangebongos 10728]

Larry, is he a veteran? My dad started hanging out and became active in his Catholic War Veteran's organization. He and my mom went to conventions and dances and all kinds of organized stuff. Maybe he can join his local VFW chapter?

[Incredulity 11675]

9 hours ago, El Diablo said:

Face it, once people have it in their heads that they're entitled to quit work and rest on their laurels, regardless of their economic contributions or personal responsibility, it gets a bit dicey.

I thought 99 weeks of unemployment was about compassion?

[Dbeasy 15052]

With no pensions, high healthcare costs, and incredibly low interest rates, the dollar number required to retire comfortably (without burning thru all of the principal) is substantial.

[Aqua Buddha 14598]

12 hours ago, ShaggyBevo RIP said:

This is the topic that always comes in our age group among those with the means to retire early. There would be a lot more people retiring early if it wasn't for healthcare cost/fears.

I was at a 1st birthday party a while back and most of what has been discussed in this thread was thrown about among a group with a 40+ year spread in ages.  Retirees with guaranteed pensions were very happy to have them but were jealous of the freedom the subsequent generations have from their retirement being in IRAs, 401/403, etc. with no need to hit X years with the same company.  A couple of retired execs said it never occurred to them, when being involved in the decision to moving their entities from pension plans to contributions/matching contributions, that all company loyalty would be thrown out the door with that but they too were jealous of the freedom of your retirement contributions go with you.  

They knew alright.  They just didn't care.

[Cheeseweasel 26438]

10 hours ago, Dbeasy said:

With no pensions, high healthcare costs, and incredibly low interest rates, the dollar number required to retire comfortably (without burning thru all of the principal) is substantial.

Good point, but it depends on how you retire, too. 

Plan on vacationing in Europe twice a year, you're gonna need some serious cash.

I've always lived within my means and expect to do the same in retirement.

[cactusflinthead 27599]

I'll probably work as long as I can. I need the structure. My idea of retirement is to say, 'F it. Going to be gone all week. See ya next Monday." 

I might last a month before I joined the other old guys handing out advice at Lowe's or wherever. 

The goal does not have to be meaningful. It can be arbitrary and stupid. It just has to motivate you enough to stay active.