Comments on: The Future of Retirement?

By: Frugal Mom LA

Frugal Mom LA — Sat, 31 May 2008 20:42:50 +0000

My mom who’s in her 70s (Depression Era Baby) doesn’t want to retire–she likes feeling useful and getting paid for her expertise. My dad, same age as my mom, enjoys his retirement to its fullest. He was a career professional for one of the big mil-ind corporations. He was given the golden handshake in the early 90s and has since been involved in volunteering for his HOA, investing, playing tennis and helping watch his grandkids. So, you’ve got two perspectives there. My husband and I enjoy owning our own business despite its trials and tribulations and it gives us certain flexibility.

By: My Dollar Plan

My Dollar Plan — Fri, 30 May 2008 19:55:30 +0000

I’ve always been planning for a retirement in my 30s. That way I can do what I want and spend time with my kids. Once they’re grown I’m sure I’ll be more than busy with volunteer activities and social stuff.

By: AJC @ 7million7years

AJC @ 7million7years — Fri, 30 May 2008 19:11:17 +0000

I agree; I retired at 49 and consider that ‘late’ …

Life’s too short to spend 40 hours a week, 50 weeks a year (less holidays) pushing papers for ‘the man’ … hell, I got sick of BEING ‘the man’!

By: Funny about Money

Funny about Money — Fri, 30 May 2008 19:07:01 +0000

Interesting, indeed.

I’d planned to be successfully self-employed at 50, but didn’t want to work that hard.

I’d hoped to retire around 62; then realized I couldn’t afford the COBRA and it wouldn’t carry me to Medicare anyway.

Now I’m thinking I’ll work till age 65 and then think about it. But what I’m hoping for is to hang in there until age 70. At 66 1/2 I can collect full Social Security without (unless the law changes) having it confiscated for the crime of earning a living, and so I could take the net income from SS (about $12,900) and put it directly into my retirement funds. Actually, I could live on that and have an extra $12,900 from my salary put into my retirement plan, pre-tax, cutting taxable income and plumping up the 403b to the tune of about $26,000.

My job is so easy it’s effectively semiretirement. As long as that stays the same, I’d be nuts to give up a salary and health insurance.

By: Jim

Jim — Fri, 30 May 2008 16:24:59 +0000

My retirement will consist of sitting on my bum, reading, watching movies, and playing video games all day. I will go between 51 and 57 and won’t look back.

By: Sara A.

Sara A. — Fri, 30 May 2008 16:17:21 +0000

I wonder if this trend has anything to do with a dropoff in volunteerism? Would those retirees who are returning to paid work have become unpaid volunteers in the past?

I know for my grandparents’ generation, they kept very active in their retirement by volunteering and giving back to the community. My parents, who are boomers, are exactly the opposite. They will give money to charity occasionally, but would not consider “wasting” their time with something that does not directly bring them recreation or money.

I would be interested to see how the retiree volunteer numbers compare to the retiree returning to the workforce numbers.

By: Frugal Dad

Frugal Dad — Fri, 30 May 2008 13:28:00 +0000

Interesting statistics – I think the other thing that needs to evolve, along with the traditional retirement age, is the traditional views of what “retirement” means. Many people still think of old folks sitting around playing gold, knitting sweaters and playing bingo. “Retirement” can be anything you want it to be. My ideal retirement looks a lot like yours. I hope to be an active volunteer, work a little freelance, and generally enjoy time with my family and friends.