Early retirement is no longer the goal of most workers. Even retirement at age 65 now seems unattainable to many people. The majority of Americans now expect to work until age 65 or later.
The number of Americans planning to retire before age 65 has dropped from 50 percent in 1996 to 29 percent today, according to a recent Gallup survey of 1,020 adults. Meanwhile the proportion of people planning to work until after age 65 has increased steadily from 15 percent in 1996 to 34 percent this year. This is the first time in the 15-year-old survey that more current workers planned to retire after age 65 than before it. Another 27 percent of current employees plan to retire exactly at age 65.
life expectancy continues to rise so why shouldn’t retirement age as well?
I just hope there will be a few dollars left in our pension fund and Social Security by the time I retire. Hopefully at least my army reserve retirement pay will still be there, but these days, nothing can be taken for granted regardless of assurances given.
funny you should mention your pension fund Evan, they’re coming for that too: http://www.investors.com/NewsAndAnalysis/Article.aspx?id=533718
(that’s not “ha ha” funny)
How well I know it!
Retire, already. A couple of the next generations would like a job, too.
Hi Evan. First, thanks for your service from a fellow vet.
I am concerned that there is no money to pay for social security, medicare, perscription drugs, or any federal retirement. They have spent it. Furthermore, we are over $12 Trillion in debt with about a $1 Trillion deficit currently and every year for the next decade. That means that when I try to retire, the public debt will be about $22 Trillion and we still won’t have reversed the deficit. They will either default or inflate. My federal pension is pretty much toast. In fact, the dollar is pretty much toast as are all the paper stocks and bonds that are payable in dollars.
Currently, it takes about 19 paper dollars to purchase one silver dollar. I would imagine that a decade from now, with $1 Trillion dollar deficits continueing and $22 Trillion in debt, that it will take more like $50 or more to buy that same 1 oz silver dollar…if you can buy one. With that much debt, the interest load will eat up most of the revenues. We have most likely already passed the tipping point on this. The whole thing is a slow motion train wreck.
Remember, God is our source. Consider the ravens, for they neither sow nor reap; …
Can’t. I neither have enough time in my current job nor am I old enough to qualify for any potential retirement pay/pension.
6, This should make you feel better:
[blockquote] Reacting to the surprise announcement that congressional budget referees now predict healthcare reform could top $1 trillion, the Obama administration threatened Wednesday to veto parts of its own healthcare bill.
The politically explosive revelation, which is likely to give new impetus to the GOP’s repeal movement, came after the Congressional Budget Office (CBO) said the law potentially could add at least $115 billion to government healthcare spending over the next 10 years.[/blockquote]
http://www.newsmax.com/Headline/obama-healthcare-costs-trillion/2010/05/12/id/358810
To retire while one can still work is to shake your fist at God and say that you won’t work no matter what abilities and strength he gives you.
I do want to buffer that statement by the fact that my Dad retired 30 years ago and spent 20 years in volunteer ministry. Please use my statement above where it fits. If it don’t fit – don’t complain 🙂
Don
Don, you seem to assume that the work one is getting paid for is real work that God would want you to do, and that it is the main business of your life, and something important and good to do.
That is not always true. In fact it might not be true for many people.
I consider my work to be a horrible waste of the time God has given me, which I do only in order to pay my bills including the money I have borrowed to send my kids to college, and to fix cars and the roof and so on because the money to do it went to send kids to college. I assume it is my duty to do this, but it has no intrinsic value. I have to do it until I am 68 to get a decent pension. That pension had better be there, because it is the only reason why I am spending my days in a cubicle while the sun is shining outside! And I look forward to spending my time making vegetables and flowers grow, and reading all the serious books I wanted to read, once I am free of that place!
Susan Peterson
10. eulogos:
Sometimes I radically disappoint myself. My communications skills are very marginal but if you study my post a bit more I think you will see that I totally agree with you – well, perhaps you might need to study it minutely. Someday! I WILL get this communication thing right!
But I want to thank you for sharing your observations. You are vital to me if I am ever to improve.
Don
#5, Trooper: You’re welcome to my old job — if you can find it. I was downsized over a year ago. Now I’m working retail part time for $7.50 an hour, and glad to have it. Retire? Don’t make me laugh!
Br. Michael…thank you for the information. I had to double check to make sure it wasn’t from The Onion because it is so absurd. I crossed checked it with multiple sources and it appears to be true.
AMAZING.
#3 Thanks for the link. This is terrible! First, they have s
#3 Thanks for the link. This is terrible! First, they have squandered my 45 years of payments into social security. Now they want to confiscate my own savings made month by month for 30 years. I would say throw the rascals out, but the only replacements are more rascals. The only thing that changes is who gets the squandered funds.