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Forum » retirement at age 62-67 is the biggest scam ever
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Thread: retirement at age 62-67 is the biggest scam ever

post 1660477393 04-29-2022, 06:47 PM
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#31
  1. bfdehewdbyywhn
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I've said this several times

but gen z and millennials are too stupid to understand this

they also don't understand the concept of inflation



you will work till you die
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post 1660477473 04-29-2022, 06:50 PM
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#32
  1. SoutheastBeast1
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Probably 45
"One day I won't be able to lift any more. Not I won't want to lift. I mean physically unable. That day could be decades from now or it could be tomorrow. All I know is that's the day I'll wish I could lift more than ever. The day I'd give anything for one more workout, one more set, or one more cardio session. So go hard and enjoy every workout, every set, every rep. Because one day you will wake up and you will never get it back."
-SoutheastBeast1
post 1660477483 04-29-2022, 06:50 PM
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#33
  1. DeadlyStriker
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I think the idea of retiring in general is outdated.

The goal at this point is to start my own business over time so I have control of my income and cash flow.

I honestly don't see how being a wagie going forward is worth it. 401ks and roths have such an uncertain future right now that it is kind of alarming. So I am just supposed to work for a company that doesn't give me raises that match inflation every year? Or keep switching companies trying to make more money?

Nah. I realize all the rich people I know are outside of that bubble. They own their own businesses or have huge cash flows. A lot of people doing "well" (250k plus a year) are just in tons of debt and relying of stock and 401ks for their retirement. Not a care in the world of potential future financial overhaul or risk for long term accounts.

Idk I just don't like the current economic outlook in terms of foundations. Seems like the basic retirement scheme has run it's course after the past 2 years and our economic future will look completely different than we think it will be.
post 1660477663 04-29-2022, 06:58 PM
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#34
  1. eod8989
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I was unemployed for several months in 2014 and i had so much anxiety and depression from not working like i didn't feel right the whole time

I'd get so bored and restless always being at home
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post 1660477773 04-29-2022, 07:02 PM
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#35
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Originally Posted By eod8989⏩
I was unemployed for several months in 2014 and i had so much anxiety and depression from not working like i didn't feel right the whole time

I'd get so bored and restless always being at home
mornings are okay but once you have worked out and it's like 2pm... there's nothing else to do
post 1660477793 04-29-2022, 07:03 PM
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#36
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Originally Posted By bfdehewdbyywhn⏩
I've said this several times

but gen z and millennials are too stupid to understand this

they also don't understand the concept of inflation



you will work till you die
Also you will own nothing and be happy . Biden and Trudeaus America
Back with my Fam
post 1660478073 04-29-2022, 07:13 PM
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#37
  1. BulkingIsHard
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Retirement is the big lie. Honestly, most people retire to die, not to enjoy their life. The statistics agree with me. Gonna stay active but keep work load low so I can enjoy free time while still keeping a routine. Might be that one boomer who owns a gun shop or something on the side for fun.
https://en.wikipedia.org/wiki/American_decline
https://en.wikipedia.org/wiki/Societal_collapse#By_absorption
post 1660478093 04-29-2022, 07:14 PM
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#38
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plan on staying semi retired til I die.

never worked a 40 hour week in my life.

life on EZ mode.
post 1660479203 04-29-2022, 07:42 PM
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#39
  1. dingler
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Originally Posted By TonyTriangles⏩
when i'm 57; minimum retirement age for federal employees
This.
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post 1660479413 04-29-2022, 07:48 PM
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#40
  1. Amp30
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As soon as possible. I'm not one of those people who need to keep working or else I feel restless. When I was unemployed for 2 years during peak COVID I was just fine not doing anything. A girlfriend, a fun hobby, and travel occasionally is the simple life I strive for.

Don't want kids either that will just delay my retirement by 20 years
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post 1660479473 04-29-2022, 07:50 PM
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#41
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Originally Posted By TugOfPeace⏩
what'd you do before you got to that point?

I'm living that lifestyle now despite having a full time job, but not nearly enough savings to retire
I actually never had a full time job ever.... For a long stretch there I had a savings rate of 60-80% ded fukin srs. I'm a frugal kunt and just invested everything because it is a hobby.

The issue is that comfort breeds laziness, like you don't need to do anything but you feel like you are turning to mush.

It's all about savings rate, here's a good article:https://www.mrmoneymustache.com/2012...ly-retirement/
post 1660481453 04-29-2022, 08:47 PM
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#42
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Retire and do what? Die?

I’ll likely never fully retire. Not until 75 if still alive. After 60, Ill go 0.5 to 0.8 FTE with 12-15 weeks of vacation. Currently take 6 weeks of vacation.
post 1660482463 04-29-2022, 09:23 PM
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#43
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Don't have to retire if you are NEET and rot at home in the first place


post 1660482493 04-29-2022, 09:23 PM
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#44
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i hope i can retire at 50, fuk waiting until 62
post 1660483073 04-29-2022, 09:41 PM
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#45
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Never retiring.
Retiring will kill you faster
post 1660483113 04-29-2022, 09:42 PM
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#46
  1. Evil_D
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Side note:
A lot of people just assume their body will make it to retirement.
"Australia is a bi country" - Samuel Whitcombe Hyde
post 1660495223 04-30-2022, 08:29 AM
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#47
  1. katya422
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Originally Posted By Evil_D⏩
Side note:
A lot of people just assume their body will make it to retirement.
Truth. Physical labor wears a body down over time.
DARWIN Cooper looked out at a crowd of several hundred fellow retired autoworkers Nov. 1 in Youngstown, Ohio, and started shooting questions.

"How many of you have had surgery for carpal tunnel?" he shouted into the microphone.

More than 50 men and women stood up.

"How many of you have had knee replacements?"

Another 60 or so rose from their seats.

"How many of you have had back surgery?"

More than 150 people were now standing.

Cooper was just getting started.

In interviews during lunch, many of the former autoworkers -- some not yet 60 -- described their hip replacements, foot surgeries, heart bypasses and ripped rotator cuffs. Some ailments evolved through the normal wear and tear of aging, but most were the result of repetitive jobs performed on General Motors' assembly lines.

The Center for Economic and Policy Research reported in August thatproponents of raising the retirement age are eager to argue that Americans live longer and healthier lives than previous generations -- but they fail to acknowledge that this statistic is primarily traced to the decline in infant and teen mortality.

They also don't address the physical punishment of blue-collar labor. Most such workers are unable to stay on the job longer. For too many of them, the only option would be to retire with reduced benefits.

Cheerleaders for older retirement tend to be people whose idea of a hard day's work is to loosen their ties for a late-night call to a campaign donor. Or, as retired autoworker Ella Johnson put it to me, "They've never worked on an assembly line or in a coal mine, but sit behind desks and write laws for those of us who do."

Johnson is 59. She worked on GM's assembly line for 25 years. She has had surgery on both knees, has carpel tunnel syndrome in her wrists and has an injured right rotator cuff.

"You're standing on a concrete floor all day, every day," Windom said. "It wears a body completely down."
https://www.nhregister.com/news/arti...s-11600248.php

Reagan passed the law that gradually increased the age of retirement from 65 to 67.

US Life Expectancy
1980: 73.61

1990: 75.21

2000: 76.64

2010: 78.54

2014: 78.9
And then...
2015: 78.7

2016: 78.7

2017: 78.6

2018: 78.7

2019: 78.86

2020: 76.99

2021: 76.6
It doesn't seem like a big deal when the average lifespan only decreases by 0.1 years, but just that little change between 2015 and 2017 was estimated to save corporations billions of dollars.
The rise in death rates among younger Americans has already changed how some companies plan for their employees’ retirements. For instance, both Verizon and General Motors have reduced their pension estimates based on this new data, according to Bloomberg. In total,Bloomberg estimates that corporations in the United States have decreased their planned pension and retirement spending by about $9.7 billion combined.
^^^
That's $9.7 B saved on just corporate pensions. You know that public pensions and social security would also see savings.

So when do you think they will lower the retirement age because people are dying younger?
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post 1660495683 04-30-2022, 08:44 AM
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#48
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I'm thinking around 62 or 63. I want to be able to do just about whatever I want when I retire so an extra ten years of making good scratch will go along way to help that.

Plus my job is pretty awesome and I'd miss the professional satisfaction I get. Plus, WFH mostly now is super nice.
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post 1660495943 04-30-2022, 08:52 AM
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#49
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I honestly don't know if I'll ever "retire" completely, but by 50 I'd like to have a paid off house and just work part time to cover expenses. I've been catching up on my 401K and I'm frugal, so I don't think I'm off track. No kids and not married, so I should be good lol.
post 1660496043 04-30-2022, 08:55 AM
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#50
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Probably early sixties for me (just turned 54). I essentially worked for free my first 3 years out of college (Peace Corps), which pushed my retirement off probably by several years when you take into consideration the compounding returns from those 3 years.
Originally Posted By Dave22reborn⏩
What do you people mean by "retiring?"

Are you talking about just sitting on your ass all day doing nothing?
No, doing whatever the hell I want instead of what some incompetent project manager thinks I should be doing.
"Bones heal, pain is temporary, and chicks dig scars" - Evel Knievel
post 1661042773 05-10-2022, 07:21 AM
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#51
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Originally Posted By HMFIC_BROWSIN⏩
plan on staying semi retired til I die.

never worked a 40 hour week in my life.

life on EZ mode.
Myron that’s my long term plan too but I had to work 50-60 hour weeks for years to get myself to this point I’d never go back to that
post 1661043493 05-10-2022, 07:38 AM
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#52
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No one will retire with Biden in office LMAO
post 1661043943 05-10-2022, 07:50 AM
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#53
  1. AncientYouth
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I have retired while still at work

full time salary for about 10 hours work (mostly meetings) a week, i could do this forever .

enough work to engage my brain and so much more time to do the chit i like to do

COVID has been a godsend wfh, so i save an extra 3 hours a day not commuting and a load of money
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