I hope to avoid becoming a DIT (Die In the Traces), but my brother -due to the
machinations of a BAD Tax preparer is one (he's bust at 58, so no
retirement, absolutely none).As a boomer the government swept away
the workers before us so we'd have jobs, now we're keeping them from
the millennials (Born 1980 - 2000) and the youth because our retirement plan is
bust, and we didn't have enough kids so that the government has to sweep us
out of the labour market for an oversize rising generation. We've seen the world go from Capitalist (Open or State) to Nerdalist
(where the supply of nerds limits the economy, not the supply of money).
We're having too much fun.YoursEd Wilson
On track to retire now by 60 or 61 years old, paying off the house being the
main driving factor. Paying extra every month plus a one-time lump sum every
year to pay a 30 yr loan off in 18.Before the market fell apart in
2007-2008 I had a plan in place/progressing where my wife and I would have a
million by the time I was 60. Plan was to move it from a 10% growth vehicle to
a more conservative investment vehicle of about 5% and combine that with a
military retirement and those 2 combined meant the million would be
self-sustaining.That capability is all gone now due to the likes of
New York (D) Rep. Barney "there's no danger of giving mortgages to
those who don't have to show they qualify for a mortgage nor do they have
any hope of repaying a mortgage" Frank and the "takers" in our
country, who as proven by the November 2008 Presidential election, now outnumber
the "makers".Like I said, still on track to retire at 60-61,
but the difference is there's no longer a self-sustaining nest egg.
How dare they put welfare and social security in the same context. I have paid
thousands into social security for over forty years, it has no relationship to
welfare. And just because the older people work longer does not mean that they
didn't sign up for social security benefits.People are working longer
for two reasons, they have aged well and their retirement plans/financial
strength went bust over the past five years.
Luckily I got into education before Sen. Liljenquist destroyed the retirement
plan for teachers. I will be able to retire after 30 years of teaching 12 year
olds. I plan to serve a mission or two with my wife and then enjoy the grand
kids. I feel sad for the recently hired teachers who will never know such
retirement. We are going to have 80 year old teachers 30 years from now because
they can't afford to save on the low salary they make. We got by on the
salary knowing that retirement was being put away as part of my state contract
but not any more. Now they have low wages AND no retirement plan.Sad.
My retirement plan is death.
65 is the old retirement age. 67 is the new retirement age. In reality, 67 just
means you retire from your career job then start at Home Depot or eqiv at $9-$10
an hour for another 5 years. The only goal that should be set is when you pay
your home off and that has to be around 67. More and more people are finding
that harder and harder to do. I have no desire to live in a glorified apartment
when I am 67 with no yard and people so close I can hear them snoring at night.
This year we sold our 4000 sq ft home with 1/2 acre yard and downsized building
a smaller home on a smaller lot in a city farther south in the valley. All in
all we cut our loan by 80k and reduced our loan by 15 years. Commute dist to
work is farther and it is more a rural feel but doing nothing was not an option.
We will miss the convenience of our old home location which was prime but it
seems to me we are headed into another recession soon ...did we ever leave the
high school fan:"How dare they put welfare and social security
in the same context. I have paid thousands into social security for over forty
years, it has no relationship to welfare. And just because the older people work
longer does not mean that they didn't sign up for social security
benefits.People are working longer for two reasons, they have aged well
and their retirement plans/financial strength went bust over the past five
years."The media seems to perpetuate this confusion. It's
about as bad as saying that your savings account represents welfare. It would also help if we weren't dealing with countries (examples of
South Asian tech and African mining) that use slavery to produce modern goods.
They have a retirement plan consisting of the death of the slave, and by our
society condoning it by doing unrestricted business with them, we force our
people into the same problems. That corporate head of clothing that can work
his people for 2 dollars a day till they die in Dhaka? He's indirectly
doing that to Americans as well. At least until fair wage laws are passed and