Reply to Why are people obsessed with putting $$ in retirement?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Agree with the PPs above. When people go on about - oh it’s only lazy bums retiring at 65, I think they forget industries vary. If you’re a tenured professor or a govt paper pusher with a lifetime job or in some field that ends up being so high demand at 65 that you can work until you choose to quit, great. Don’t save. For many others out there including in fields that are always pushed in these boards like STEM, push outs at 50 or 55 are very real; lots of law firms are also now super strict with their retirement at 65 clauses. And while everyone says, so what go hang a shingle - let’s be real in fields like engineering and law the majority of the million dollar projects/cases you worked on for 30 yrs aren’t going to solo practitioners - with your own firm started at 50 or 65 you easily could be taking a huge cut from your salaried job bc of lack of business and costs like healthcare. I’ve seen one mechanical engineer after the next laid off in their 50s or early 60s. And frankly even in regular “business” jobs, the threat of layoff just increases as you get older and higher prices for the company. So if working until 80 is guaranteed for you, great. But realistically everyone should think thru what happens if there’s a “forced retirement” earlier than planned.[/quote]

Meh. Expert witness testimony is a lucrative field for retired white collar workers. We just had one who is 80 years old. The firm puts them up, pays for food and travel, and they often charge $$ per hour. No need to stress about hanging your own shingle at 50.[/quote]

You will have exactly 0 expert witness testimony in IT fields at 80. A guy who is 60 was just pushed out at my company. His brain simply can no longer work fast enough. Management found an excuse. I hear so many people say "so and so just needs to give it up".[/quote]

Always think it’s interesting when the 30 or 45 year olds say that - that joe should give it up - as I always think, you wait buddy your turns gonna come sinner than you think. When I hear a 22 yr old say that it’s more “excuseable” bc they can’t even fathom being 40 let alone 60.[/quote]

Yea, and this is exactly why I do not YOLO through my finances. Because as a 40yr old I see EXACTLY what happens in my field when you hit 50. that guy was extremely lucky to make it to 60. People in bleeding edge industries are stupid not to front load their retirement. It's like 19yr olds who go every other day to a tanning bed. Stupid in the long run.[/quote]

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