How do you feel if you are over 60 and need to work?

[Anonymous]

Everyone has their own numbers that work for them. It is different for all.
I say a paid off house and at least a million. Or 1.5 million (at least) with whatever mortgage.

[Anonymous]

Anonymous wrote:Everyone has their own numbers that work for them. It is different for all.
I say a paid off house and at least a million. Or 1.5 million (at least) with whatever mortgage.

I kind of go along with those numbers.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Everyone has their own numbers that work for them. It is different for all.
I say a paid off house and at least a million. Or 1.5 million (at least) with whatever mortgage.

I kind of go along with those numbers.

And how many people can save $1m outside of DCUMland, especially if you are a working stiff with 2 or more children? Or a single parent?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Everyone has their own numbers that work for them. It is different for all.
I say a paid off house and at least a million. Or 1.5 million (at least) with whatever mortgage.

I kind of go along with those numbers.

And how many people can save $1m outside of DCUMland, especially if you are a working stiff with 2 or more children? Or a single parent?

1 mil for a tax deferred account really is not as hard as you are making it out to be. Getting started early and spreading it over 40ish years makes a big difference. It may not seem like it’s going to get there along the way but the curve really accelerated toward the end with even a moderate market.

The DCUM talk of 3-5 mil is something that could be out of reach for the scenarios you lost.

[Anonymous]

I am 56 and we have plenty saved for retirement (yes, the $4-6m people mock). But that doesn’t mean I plan to retire before 65. I like working. My kids are launched. Plus like a PP I saw both my grandfather and FIL retire at 55 and in both cases seemed to lose something. They weren’t really mentally engaged. While I don’t think that will happen to me I don’t see any particular reason to retire early.

[Anonymous]

‘Endless free time sounds great until you have it’ BINGO!!! Will work as long as I can. Diminishing faculties are real.

[Anonymous]

Anonymous wrote:Perhaps it is self selection, but you see people on DCUM talking about retiring at 55 or 60. I am nowhere near that at 60. Had children late, perhaps the house was too big, no pension, wife didn't bring in much money (major friction point). I would like to retire at 66 and hopefully teach college business courses as long as I can. In good health but sometimes reading about others makes me feel like a total loser who should have saved earlier, moved to a place with a better economy, etc. Especially with having a good education in a field with demand. Now I understand that a person should never compare because you have no idea what their lives are like, But if you are in the same boat, what are you thinking?

a lot of people on this site have not had to compete with the huge influx of H1Bs and H4s and L1s and etc since 1990 Bush Immigration law.

lots of good IT jobs were turned upside down by companies hiring Indian bodyshops

as a mid 50s person, it is hard to get a job in IT shops.

[Anonymous]

Anonymous wrote:I will work until I am 70 if I can. I see too many people who retire early, thinking they will live the high life and perhaps they do for a short time, but the only result I see is diminishing faculties at an astonishing rate. At first I thought it was an aberration and person-specific but now I see a noticeable trend in our set and I don't want that for me.

Totally agree. Working exercises cognitive abilities like nothing else. I have seen the decline you are talking about up close.

[Anonymous]

There are a lot of ways to stay active without working. Some people require a structure, others do not.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Perhaps it is self selection, but you see people on DCUM talking about retiring at 55 or 60. I am nowhere near that at 60. Had children late, perhaps the house was too big, no pension, wife didn't bring in much money (major friction point). I would like to retire at 66 and hopefully teach college business courses as long as I can. In good health but sometimes reading about others makes me feel like a total loser who should have saved earlier, moved to a place with a better economy, etc. Especially with having a good education in a field with demand. Now I understand that a person should never compare because you have no idea what their lives are like, But if you are in the same boat, what are you thinking?

a lot of people on this site have not had to compete with the huge influx of H1Bs and H4s and L1s and etc since 1990 Bush Immigration law.

lots of good IT jobs were turned upside down by companies hiring Indian bodyshops

as a mid 50s person, it is hard to get a job in IT shops.

I don't know. There is no easy money in any of the so called prestigious fields. Not in IT, not in medicine and not in the corporate world. Majority of money in this country is in the hands of a few fat cats. The pay differential between a CEO and a middle manager is astronomical. Easy to blame Indian bodyshops and call centers, but this happened only because Republican CEOs wanted more money in their own pockets and not that of the workers. There may be a a number of people who make hundred of thousands of dollars in a year, but the majority of DCUMers are still hovering at 100K a year or slightly less. The trick is to live in a smaller house, have a mortgage that can be paid with a one income household and start saving from the very first paycheck.

If you are educated and do not have a job, get your certification and become a public school teacher. That is what I did and it has been good for me. The easiest thing in the world is to earn money in America. You need to reinvent yourself if the jobs are going away. Teach, tutor, blog. The traditional jobs are going away. The millennials are dealing with the same job market that we are. We got jobs because we had college degree. Do you know how difficult it is to get a job now a days for anyone?

[Anonymous]

Anonymous wrote:There are a lot of ways to stay active without working. Some people require a structure, others do not.

In general, though, most people require more structure than they give themselves. The post-job cognitive decline is real.

[Anonymous]

Anonymous wrote:

Anonymous wrote:There are a lot of ways to stay active without working. Some people require a structure, others do not.

In general, though, most people require more structure than they give themselves. The post-job cognitive decline is real.

Depends- there are alot of folks getting political now- helping with elections, volunteering in many ways. There are only so may paint nights one can do.I will shoot myself if ever go to another one.

Also- get a dog. You have to get out and walk, etc.

[Anonymous]

Doesn't early retirement typically = early death?

Isn't that a fact?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There are a lot of ways to stay active without working. Some people require a structure, others do not.

In general, though, most people require more structure than they give themselves. The post-job cognitive decline is real.

Depends- there are alot of folks getting political now- helping with elections, volunteering in many ways. There are only so may paint nights one can do.I will shoot myself if ever go to another one.

Also- get a dog. You have to get out and walk, etc.

Not the same as work. Cognitively, I mean.

[Anonymous]

Anonymous wrote:
Doesn't early retirement typically = early death?

Isn't that a fact?

both my wife's mom and my mom don't work have lived into their 80's

this is stupid.

work is tough, you get paid to deal with crap, i would live longer if I could quit today.

where do you work that it is easy?