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Many expect lower standard of living in retirement
2014 May 13, 12:50am 1,395 views 12 comments
by zzyzzx follow (9)
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Considering that the age at which Baby Boomers can collect full Social Security is 66, it's not surprising that most of them don't plan to retire at 65. Duh.
casandra
2014 May 16, 10:44am
you have to work in order to retire don't you? i don't know anyone any more who works for a living. one lady i know well, collects just over 100k a year on foster kids and lives rent free in a nice section 8 house, gets reduced phone and utilities EBT for food, and hires a nanny to watch the foster kids. she lives a nice life. the cash is all chump change to spend on any luxury she likes after incidentals for the children, most of whom come with their own social security chump change as well.
JH
2014 May 16, 11:01am
one lady i know well
Do you know hang out with anyone besides all your alleged welfare queens?
Tenpoundbass
2014 May 16, 12:30pm
Why wait until then. Call your Mom and ask her how she's livin'.
It's no fucking picnic.
curious2
2014 May 16, 1:38pm
One out of three workers expect their standard of living to decrease when they retire, and 41% think it will stay about the same....
In other words, at least 41% are seriously delusional, probably more since the listed fraction and % omit around 30%.
If you want to know something about retirement, visit your local "retirement" home. You will observe some comparatively small percentage who stay active and healthy: they exercise, keep their minds active, and don't smoke or take too many pills. They are surrounded by terminal decline, as the majority of their peers rot alive and eventually get buried.
WTF is your standard of living if you can no longer do any of the things that you like to do? If you can no longer walk, see, or hear, if you can only sit in a chair and drool, has your standard of living stayed "about the same"? Maybe this was a survey of DMV employees.
We have yet to see the retirement of "generation meds", the kids who grew up on so many pills that they may never afford to retire, because the deficit bills will have caught up with them by then too, and what will be left of their brains after all that medical "help".
zzyzzx
2014 May 19, 12:06am
If you want to know something about retirement, visit your local "retirement" home. You will observe some comparatively small percentage who stay active and healthy:
The comparatively healthy ones are still living in their houses, not the "retirement home".
casandra
2014 May 19, 2:11am
answer the question a few posts above.
some are on welfare, some on disability, some retired from work are my friends. when you have as much free time as i do these are the people you see and meet. and when we do see working people, we all realized, we don't want to be bothered with their drama of running a rat race life and losing this at that.
its nice going to lunch at a nice restaurant and sitting for 2 1/2 hours just mingling with friends there. the workers can't do this as we noticed and have to rush in and out in a split second. we realized these lunches are an analogy of life.
http://www.usatoday.com/story/money/personalfinance/2014/05/12/retirement-standard-of-living/9000515/
One out of three workers expect their standard of living to decrease when they retire, and 41% think it will stay about the same, according to a survey of 4,143 full-time and part-time workers commissioned by the non-profit Transamerica Center for Retirement Studies.
Only 17% expect their standard of living to increase, and 9% are not sure what will happen, the survey shows.
"As the economy continues its recovery, workers can further improve their chances of achieving a comfortable retirement by taking steps today to update their retirement savings goals and finding a road map to achieve those goals," says Transamerica Center president Catherine Collinson.
"Most people plan to work longer and retire at an older age. Yet with a solid strategy, many may be able to retire sooner, transition with greater flexibility and on their own terms," she says.
About 65% of Boomers (those born between 1946 and 1964) plan to work after age 65 or don't plan to retire. The top reasons for working in their golden years: income and health benefits, the survey finds.
Some Boomers are taking steps to stay employed: 26% have a backup plan for retirement income in case they are forced into full retirement sooner than they expected; 65% say they're staying healthy to continue working; 41% are keeping their job skills current; 16% are networking and meeting new people; 14% are scoping out the job market for possible opportunities.