Forum Replies Created
-
AuthorPosts
-
flyer
ParticipantYes, BG, I am very grateful things worked out the way they did, and wish more people had these options.
The world has changed, and fewer companies offer pensions and health insurance to retirees, and nothing even close to the job security that was once available.
Most employment today is “at will,” which is all to the benefit of the employer, and offers employees very little job/life security.
Even with pensions and healthcare provided, I still believe it’s wise to build other sources of income, if possible. We all have to plan way ahead to make sure we’ve done all we can to prepare for the years when we are 50+.
ParticipantIt’s true that health insurance costs are only predicted to get higher over time as demand increases. It’s estimated that the average couple will need to budget around $240K for healthcare costs alone during retirement (65+) even when they are on Medicare–due to rising premiums and supplemental insurance needs–not to mention the huge costs for healthcare they could incur from age 55-65 should they be unemployed, etc.
Although I’m not yet retired, our pilot’s union negotiated hard for pensions and health insurance for retirees in my age group. Younger pilots are facing an entirely different scenario, so retirement planning on all fronts is definitely a must if you want to enjoy that period of your life.
ParticipantAlthough I don’t care to live in a dense concrete jungle–and don’t have to–I’ll always be glad to see a constant inflow of real estate buyers and renters.
Unfortunately, many who were raised here may be shut out because of this competition for limited resources in a state like CA, and may consider it unfair, but for those who own properties, values should stay up and increase in the near term.
Imo, the real concern with property values in places like CA, may come when current and new worker bees try to retire and realize they can’t afford to stay here. Hopefully there will be always more to replace them in the pipeline, as well as the continuing inflow of foreign funds.
ParticipantEnjoy Tai Chi, but have spent years involved in Taekwondo. Many people enjoy Tai Chi for the meditative aspect, so you’ll probably like that.
Birthday today also, and we spent it at the beach. Going back later for dinner. Fantastic weather out there–enjoy!
ParticipantMost everyone in our families have and are living to be in their 80’s and 90’s, and have done well physically, mentally and emotionally to the end. We have about the same very busy and interesting lifestyle as they did and do, so we hope to follow suit.
We all face the day we will take our last breath, but in the meantime, everyone should go with whatever works for them.
ParticipantAgree, TS. I’ve also read that even when finances are no longer a concern, along with genetics and a healthy lifestyle, remaining engaged in a purpose–the definition of which is open to individual preference–does seem to contribute to longevity.
ParticipantWe don’t believe life is about cruises and golf course either–even though they are both great–so I can see how they might be at the top of the list for many people.
In our case, our list begins with having great family and friends–financial security–homes we want, where we want
them–successful business interests that require creativity and intellect–as well as boating, golf, tennis, cruises–and the list goes on and on. I doubt if we’ll ever run out of things to do in life.Fortunately, everyone is free to pursue life on whatever terms they wish.
ParticipantThis is all good to hear, TG. Since we bought years ago–we feel the same about living in RSF–the best of all worlds for us. Early retirement is a good thing, especially when you have a great life–and knowing you made the right choices is–priceless.
ParticipantI think the wealth gap may be with us for a long time, and, hopefully, will be solved.
In the meantime, as most Piggs, I’ve always tried to make sure my family, as well as extended family and some friends and I are pretty much set for life to the best of my ability.
ParticipantFIH, to your point concerning looking back on growing up in LJ, as I recall, everyone was pretty much at the same level from a financial perspective, including the value of our homes, etc. Most everyone I grew up with went to college, had great careers and did very well in life, as their parents had.
I would have to say that I probably experienced a more diverse degree of socioeconomic exposure through experiences during college, and later in life, rather than during my early years.
Have read Piketty and others with varying pov’s, and it will be interesting to see if anyone (candidates included) can actually execute a plan that will solve the wealth gap issue, since it does seem to be a problem that does currently or will affect a huge portion of the population per this LA Times article:
“Wealth inequality is also an artifact of income inequality; the two trends work together to magnify the former. As the bottom 90% struggle to make ends meet on stagnant incomes, they’re unable to accumulate savings. Today, the top 1% save about 35% of their income, while the bottom 90% of families save about zero.”
“Ten or twenty years from now, all the gains in wealth democratization achieved during the New Deal and the post-war decades could be lost. While the rich would be extremely rich, ordinary families would own next to nothing, with debts almost as high as their assets.”
Participant“speaking of the general population, “Piggs” and retirement planning ever consider the parallels to classic story of the three little pigs?”
Although the core causes go far deeper than this story illustrates, I can see the parallels with regard to how, among the unprepared, the wealth gap will take more and more people down with it as it grows exponentially in the coming decades.
In addition, the stats indicate that even many in the top 20% have not planned well for retirement, so it seems likely that the wealth gap may widen as more and more people across all generations enter their retirement years.
ParticipantI know the following stats don’t apply to us Piggs, but for most of the population, I think we’ll see more and more evidence of the wealth gap as more and more people head into their retirement years–and this is across all generations–per the article below.
Sad to read that only 22% of Americans feel prepared for retirement.
ParticipantThat sounds reasonable, SK, but, in the meantime, many lives will be lived/wasted in various forms of desperation, while politicians continue to buy votes predicated on quick-fixes, rather than the obviously necessary decades of transformation ahead.
I would enjoy seeing the candidates exhibit complete transparency on this issue, and then observe how many supporters they acquire.
Fortunately, most of us Piggs are not placing our destiny in the hands of politicians.
ParticipantPersonally, I think the real crazies in this election are those who actually believe any politician can change the outcome of their lives–as time will inevitably reveal–but it is fun to watch the show.
-
AuthorPosts
