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Is the age of retirement gone?

Last post Sun, May 25 2014 6:22 PM by tracyinmn. 14 replies.
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  • Tue, Apr 21 2009 3:32 PM In reply to

    Re: Is the age of retirement gone?

    My mom hasn't worked a regular job since she had us in the 70s.  Sometimes part time things here and there.  My dad will never fully give up work, he is not the type to sit around.  His dad, my grandpa, was the same.  There is a family business-my dad is the 3rd generation owner-and I can't see him every really stepping down to let my brother totally take over.  At some point, he'll cut back a bit but he'll be there until he physically can't anymore.  They are very well prepared for their later years though.

    My DH is much like my dad in the sense that he is not the type to retire and not have a specific purpose.  I could see him "retiring" down the road from his career to start doing something else.  If we had the money, he would do that sooner rather than later.  Right now though, we are dependant on his salary and benefits.  DH, actually both of us, are entrepreneurial in nature.  Both of us like having projects, having things that we are working on, and I can see us both doing these types of things well into the future.

    BUT, my ideal would be that while we have these other things to pursue, we also have freedom and flexibility, and the resources, to be able to travel, enjoy life, and do all the things we dream about doing someday.  For us, I think it equals a happy medium between fully retired and fully working, basically I guess, with work being fully in our own control.  A nice dream at this point!

    I worry though about being able to make it without a salary ever.  At this point, our retirement accounts are worth little, our savings is slow growing, we don't count on social security being there for us as we are in our 30s.  We have time on our side which is good but it seems impossible to save everything we need to save for everything we hope to accomplish . . . retirement, college educations, future business opportunities, and the fun things in life (a nice vacation someday maybe??).  It overwhelms me to think about all the money we need to have.  And it's not that far into the future . . .

  • Tue, Apr 21 2009 7:27 PM In reply to

    Re: Is the age of retirement gone?


    You're welcome! And I understand that PERA could be raided and that is really scary if that is your retirement. And you have nothing else to fall back on.


    It could be raided (although that's been legislatively blocked for the moment) - but that's why I'm not relying on it by itself, any more than I'm relying solely on my IRA, which is totally separate from PERA.

    To get back more specifically to the original question about the age of retirement - fully vested in PERA means roughly 30 years,although there are some variations based on age and job - but the other side of that is that I've been told that if I work more than 32 years for PERA benefits, my retirement benefits will actually be lower than if I retire at 32 years or less.  Assuming 30 years, I'll be eligible for full retirement at 57 - way too early for full retirement; I'd go nuts.  So I expect I will continue to work, either as a substitute teacher or as a clerk in a bookstore (as little money as I'd actually bring home from that by the time I bought books).

  • Wed, May 21 2014 5:02 AM In reply to

    Re: Is the age of retirement gone?

    I do not ever plan on truly retiring. I plan to save money to own commercial real estate buildings and manage them from home one day. This will all start with the very first real estate purchase that I will make, my first house. I hope if zoning allows, that I can rent out a room or 2 to pay off the house faster and help save cash for the first rental property. I am not sure what kind of property it will be. It may be something as small as renting out a cell phone tower. I do not buy into the idea that I should cease to be productive in my later years. Working (smart not hard) is good for exercising the older mind and keeping sharp.
  • Sun, May 25 2014 3:58 PM In reply to

    Re: Is the age of retirement gone?

    my DH is 75 he tired 4 or 5 times then he goes back to work with the boys being with his sons

    means the world to him  I remember John at 7 would help hold the pole James at 4 would help

    his daddy pull the wagon .. by 10 john was learning to draw and he would do check plates with

    Daddy all of his 12 sons including my almost 16 year old can survey and all but 16 year old

    are professional/ registored Land surveryors in the southern states and almost all in Texas

    DH is called in to be an expert in disputes alot he is very highly thought of he spent a lot of time

    in LaA after Katina he works with habitat and sit one the local board he never applied for

    social security and he tell me if he gets to that place in life he wants to be at home and when

    he passes John with be the boss .. each of our sons has another job or two John is a Minister

    and like his Daddy is an enginer as is James and Ricky we got two mechinal engineers we have

    a bussines degrees , one is an accountant  one is working on law degree , another will get

    his degree in teaching and such   the girls do well to Laney took training to be a CNA her

    teacher said she could be a nurse she went back got her LPN she asked me if she got go

    again to be an RN  she is now I believe she could be a DR she tells me she married to one that

    is all she need right now until Nov she working on the weekend I keep the kids

    Carole Ann is a register accountant she runs her own business

    Sarah Beth is a social worker she is the person in the county who speaks Spanish she

    handles the spainish speaking people at DDS and in the court system she working on her

    master degree and she teachs a class in english to others

    I was a teacher  until we started getting kids then I start sub ... i hold a degree in Home EC

    amd i stil have people who took my class in high school who call had one stop me in church

    this am and said I need help my hands dont work well anymore i cant make bread I said come

    to my house Mon Wed or Friday i will teach you bread machine baking she said great i got

    one for Christmas she said

    I hold a degree in BA and in bookkeeping  i run our business if MS is a problem Em got it covered

    I dont know if we will ever retire to me if you do you'll rust that what Daddy .



    Officially Recognized Stretchpert in Frugal Food and Cooking and in Slow Cooker Foods

  • Sun, May 25 2014 6:22 PM In reply to

    Re: Is the age of retirement gone?

     I really won't be able to stand at a cart for 8 hours and do the physical work of nursing when I am over 62 or 65.  I have friends in nursing in their 60's, one doing night shift, I could not do that, I don't think.  They are very unhappy, sore, worry about injuries when helping move patients, etc.  It is so much easier to get an injury.  I will be retiring, and I think it is a disservice to patients to have nurses who are putting themselves at risk when they are staying awake overnight, trying to read tiny labels, etc.  There comes a time it is time to step down.  I know construction workers, tilers, servers, fishermen, electricians, landscapers get to a point they have to stop, maybe sometimes before 60.  It would be nice if industries had spots for people to work what they can, but I don't think it is going to happen, younger workers are cheaper, and there don't seem to be enough jobs out there.  If you can keep working in a job you enjoy and can continue to succeed at, I think you are very lucky. I think these are a lot of the desk and white and pink collar jobs. I am hoping society can work out how we keep the workers working and take care of some of retiree's needs, so it is balanced.  I wish we could build a stronger economy. 

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