Do you expect to work continuously for 30+ years?

Now that i have a job that has excellent retirement. I plan on staying where i am at for many years. Who knows i may retire in 20 years when im 52

 

Is your age accurate in your profile?

 

Yes

 

Ha! I'm a rabbi in Jewish education: we don't get paid any better than most private school teachers. Which is better than public school teachers, usually, but nowhere near enough to retire on. And Mrs. Levite is a pulpit rabbi in a small congregation, who hopes one day to move into full-time pastoral counseling and chaplaincy-- again, paid enough to live decently, but nowhere near enough to retire on. Plus, I'm paying off a mountain of student loans from grad school. And we have a kid. Maybe if we save like it's going out of style, and the kid get scholarships for his whole school career, and we get lucky and inherit some funding when the 'rents pass on (not impossible, I'm an only child, and her family are not wealthy, but not poor, either)...maybe we could both do part-time retirement.

 

If I work continuously for the next 30 years I'll be 88.

If the government keeps raising the SS eligibility age, I'm hoping to be eligible for retirement by then..

Providing a paycheck. Yup, that's about the size of it. My days of putting all my energies into a career are over.

I'm okay with that.

 

That last line is refreshing.

 

Since day 1 of working, I have been thinking of how to retire and sail off into the sunset... Probably not the best attitude to have, but I do have plenty of savings now. But, I also have looked at how to cut expenses, and not appear to be a cheapskate yet. I think most people have a spending problem. The problem about retirement is, that spending cuts I can get away with now when I'm young, wouldn't be possible when I'm old.

Plus, I have no idea what the value of money will be worth, and don't trust the stock market to necessarily follow that for 40 years+ (not all prices tanked when the stock market did). What I'm really afraid of expense wise is working for a year in my 30's just to afford a week or a day in the hospital when I'm 90. Wouldn't it be better to live the 'Jersey Shore' lifestyle when you are young and say screw it when you are old? But society sees the old guy who was cheap and saved his money as more 'successful' than the kids who are parting and having a good time.

 

I've already worked 40+, continuously. In theory, I'm already retired from my last employer, though 56 is a bit young and my pension isn't enough to get by on.

I've already had a career, at this point I'm just looking for a job. I'm planning on 10 more years, but 5 or 15 are both doable.

 

I have discovered a way for nearly anyone to retire after a very few years, maybe one year, if you can somehow access about 70-100k. the amount required varies, from place to place, and with your abilities.

You can retire ok on SS's 1k a month, or a bit less, in the Phillippines, but I am talking here about retiring in US, on 40k or so a year, living REALLY well, for one person, not bad for 2, if you know how.

 

$40k could last me 10 years with my current lifestyle (outside of taxes, insurance, and mortgage). But, for me it is easier to work and get a bi-monthly paycheck than to manage my money and sell out of stocks to get cash to survive on. That will be the biggest financial hurtle for me mentally to switch probably.

I wish that home designs were more focused on having $0 in monthly bills for heat/AC, power, and cooking. I would much rather go to the store with a propane tank than pay the $$$ fee each month to have natural gas here for example. And I think they should have solar thermal Sun rooms to generate heat on sunny days, along with solar panels to produce energy and hot water. Geo-thermal pipes are easy to install prior to the house getting built, and that would help the AC not be needed, along with shading and better insulation and ventilation (it is cooler outside my house than inside during the Summer nights). Oh and the size of homes need to be reduced so it is easier to do this.

Oh, and HOA fees will have to go away when I retire too.

 

Considering the economy and that social security is shrinking, I certainly I'm I have continued employment for the next 30+ years - I'm assuming the current retirement age is going to be increase by the time I get there.

 

Pretty good assumption. Might as well assume that taxes will increase as well. And medical costs keep rising. Just read an article stating that 6% invested in a 401K as a standard should probably be 8%. Nursing care is frightfully expensive.

 

How many weeks do you have to work when you are young and healthy to survive a few more days in a nursing care facility? It doesn't make a whole lot of sense to me to sit in a cube day after day during the best years of your life to have enough money to cover a $50,000 bill in 60 years.

I'm not sure what the answer is, but working at a basic job and trying to save at a faster pace than inflation is a tough thing to do. It is better to try and reduce your costs as much as possible, although if everyone did it, we would be in big trouble.

 

My uncle has been in a nursing facility in MD since Nov. 2011. Once his Medicare coverage ran out, the charge was approximately $10K/month. My aunt has to sell their house. Eventually if he lives long enough they will be bankrupt. I agree yhat you can't save enough to pay for this. Hopefully medical costs will be controlled by the time many of you retire. But the point is, retirement costs are escalating faster than most have predicted or are prepared for.

 

I will do what I'm doing till I pass, entertain people.
Is it work? Mostly not.
I don't save money, nor do I want to. Each day brings what it will.
Luckily the older I get the better, that is till I can't move, and when I can't move what's the point of living?