Retirement Secrets

[2porscheguy]

^^^Ya, I'd be real careful around that OneWhippedPuppy guy!!!

Totally agree with your recommendations VillaRica. I might add:

6. Keep the wife happy....within reason....avoid divorce if possible!

[sugarwood]

I've been reading about the retirement catastrophe and broke Boomer Americans for literally decades now. Yet, somehow, I have yet to see a single retirement catastrophe like an 80 year old working 2 jobs because he or she didn't save for retirement. You'd think there would be at least one article or video of someone actually eating cat food, as they saying goes. But, not a single example I've ever seen. So, the answer to the OP is that somehow, it all just magically works out, whether people save or not.

[Chocaholic]

Sounds like a brilliant strategy.

[masraum]

Originally Posted by sugarwood

I've been reading about the retirement catastrophe and broke Boomer Americans for literally decades now. Yet, somehow, I have yet to see a single retirement catastrophe like an 80 year old working 2 jobs because he or she didn't save for retirement. You'd think there would be at least one article or video of someone actually eating cat food, as they saying goes. But, not a single example I've ever seen. So, the answer to the OP is that somehow, it all just magically works out, whether people save or not.

I just read this yesterday

Gen X is sleeping through its retirement wake-up call - MarketWatch

[Jim Richards]

Thankfully my gen-x kid is awake and saving for retirement.

[fintstone]

Heck, I worked two jobs for decades...and have not retired yet. They just don't write articles about us.

[motion]

Originally Posted by sugarwood

So, the answer to the OP is that somehow, it all just magically works out, whether people save or not.

That's what I was getting at with my original post. I wonder what instruments are in place to allow this to happen.

[recycled sixtie]

Originally Posted by motion

That's what I was getting at with my original post. I wonder what instruments are in place to allow this to happen.

Well if you are running out of money then a person should spend less. Cut your coat according to your cloth. The thought of living on the street should be a deterrent and those that live on the street are retired already.

It's a crapshoot. If somebody asked me how much money do you need to retire? I would say you don't know.

A couple of desperate steps that can be taken towards the end of one's life. Get a reverse mortgage. Or sell the house and rent a place. Or move into an old folks home and rent your house out(that is what my mother did).

Just a bit more complexity to my eclectic post. In the future water will be scarce. Have a panic cabin(like a panic room) next to a lake with fresh water.

Guy

[E Sully]

Avoid tax problems. I have a few friends that had parents at retirement age, living well. Big house, expensive cars, many vacation trips. Suddenly in their 60's IRS came knocking. Massive fines and interest, jail time, business lost. Now out of jail, and working a menial jobs till they die.

[pavulon]

I hope to stay close to people whom you care about and care about you (good family is great). Amazing how much better (including less expensive) life is when you have a support system in place!

[onewhippedpuppy]

VillaRica, if you ever make it to Wichita the beers are on me!

[cockerpunk]

Originally Posted by E Sully

Avoid tax problems. I have a few friends that had parents at retirement age, living well. Big house, expensive cars, many vacation trips. Suddenly in their 60's IRS came knocking. Massive fines and interest, jail time, business lost. Now out of jail, and working a menial jobs till they die.

if there is one crime i have zero sympathy for on any level ever, its tax evasion.