Something Terrible is Happening to Retirees

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The decisions on how to invest, when to retire, and other financial planning topics are some of the most important financial decisions you will make in your life. I urge you to seek professional financial advice as you make this decision. Ideally, from a financial adviser, AND a CPA AND an attorney. Having the perspective of all three professions will help you make the right decision for you and your family.

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*339 {Hammad}[Parvez] Joshua Monday: Something Terrible is Happening to Retirees

[tatianastarcic]

Retired at age 53, I am in my early 60s. Because they couldn't understand the idea of not working if you don't have to, many individuals resisted me. I viewed my life in phases. In my latter years, I owe it to myself to "stop and smell the roses, " even if I have worked hard to get everything I have now. My situation is that I retired and moved to Latin America. It made it possible for me to enjoy my new surroundings while escaping all the bad things that were going on in America. None of the people I've met regret retiring.

[nicolasbenson]

I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.

[jessegarman]

No debt no divorce. I’m fine at 62. I got up every morning and do whatever my dogs tell me to do.

[michaelwiebeck]

People who are able to retire early are lucky . I have 15 months till 65 and need to look at calling it quits, my only fear is running out of funds much later, thus keen on investing. What could be the safest possible ways to invest for cashflow, in order to afford lifestyle after retirement?

[leondonald]

The most important thing that should be on everyone mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the word. This is still a good time to invest in various stocks, Gold, silver and digital currencies

[scruffy]

To me, the most important thing about going into retirement is good health. And just like saving early, your health starts at an early age. Most of the time, your lifestyle has a lot to do with later health. Money money money is all you hear about. When good health usually leads to a prosperous life. Our priorities are backwards.

[spinecat]

soooo many people I know were far more concerned with making themselves look good than for saving for retirement. Many of them bought into the nonsense that their kids had to go to "better" schools. Many of them felt sorry for their kids who couldn't motivate themselves and so gave them a roof over their head and every excuse to not leave the nest. I saw several wives who decided they didn't want to work even after the kids had left the house for good.

My wife went to a state school and worked her way through an undergraduate degree, then worked her way up the corporate ladder. I busted my hump in small business until we could buy some property, and then another one. We saved every nickel we could and are now comfortably retired.

People are the sum of their choices and I am sick and tired of hearing people blame "government" for their problems.

[obbieosias]

About healthcare! We need to figure out what the "concepts of a plan" about and what it means now!

[albertwells]

My social security check and my retirement check added together equals to about $800 a month more than I was making when I was working. So when I retired, I got a pretty decent raise.

[RobbStonee]

The continuously changing economic conditions in our society have made it necessary for people to find additional sources of income, thus I am looking at the stock market to fuel my retirement goal of $3m

[daydreamer]

I paid off all my debt by age 40 although before that I had 100k in debt.
I don't think it is wise to go into later life with debt.

[carmenortiz]

I'll be 78 soon. I sold my nice house, and got more than I imagined because I asked the person to tell me how much they were willing to pay. Turned out more than I was planning to ask for. I actually found out years earlier that Home Depot had all kinds of classes free for their employees on home improvements. When I retired, I got a job there and took almost all of the classes. They would give you a medal for each class, I had a lot. I'm 5 feet tall and a woman. I even took forklift operator (almost had a heart attack when I have to bring down a BIG pallet and they did not tell me the back would raise up, as it's normal, as a joke.) When I sold my house I got one built by a bootlegger during the Great Depression for less than $90, 000 with 2/3 acre in the middle of town and did most of the renovations. Hired people for the ELECTRICAL and plumbing. I am not stupid. It was cheap because some nutcase had painted half the basement black. The other half was natural wood, and it is a walkout. Plus it has a "horseless carriage" building (old term for garage). It had caught fire, some time in the past, I hired a person who repaired it. It is now a very pretty cottage. I grow food in my property because I was able to invoke a Grandfather's clause. (If they property had been used to grow food, then the new owner could also.) It was taken off the town's books after I invoked it. Few people are aware, that while it's in a town's books, they can legally invoque it. Once you have a house that owes zero, you can live on Social Security. My mini-van is 23 years old, I'm really nice and sweet with the people who are my van's "doctors". I get discounts. lol

[donaldrichey]

We all need to take responsibility for our retirement. Living below one’s means is actually the only way to have a healthy retirement.

[steveno]

Social security is so easy to fix. Make no limit caps. If you make $100 million then all that should be subject to social security taxes

[JoeQuellen]

pension = union job. I went the college route and my friends who went the blue collar route have been SO MUCH BETTER OFF in retirement.

[steampunk]

People usually mistake inflation, which is the deliberate dilution of their currency by government, for “corporate greed, ” and inevitably rising costs. They should take a stronger interest in how the money supply is controlled. Pay increases, for example, accomplish nothing if prices must rise in response.

[AnimationByDylan]

My retirement is based on weekly PowerBall purchases. Wish me luck!

[markdavis]

NUMBER #1. Have your house PAID OFF.
2. Be debt free when you retire.
3. Don’t live in a HIGH TAX state.
I’m not a financial “expert”, I don’t want to fund my retirement with YOUR money.

[j.ottinger]

The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.

[scrumthebum]

I’m retired teamster. I saw it my whole career. Union busting and I said way back in the 90’s how are people going to retire when the war on workers keeps getting stronger by people voting against their own interests. 🤦‍♂️