ActionfigureJoe Posted October 23, 2017 Share Posted October 23, 2017 It seems as though the american diet is catching up https://www.bloomberg.com/news/articles/2017-10-23/americans-are-retiring-later-dying-sooner-and-sicker-in-between Quote Link to comment Share on other sites More sharing options...
racer254 Posted October 23, 2017 Share Posted October 23, 2017 I thought all the regulations by the FDA, EPA, et all as well as the laws to protect everyone against second hand smoke were supposed to be helping Americans live longer and better lives? Quote Link to comment Share on other sites More sharing options...
Edmo Posted October 23, 2017 Share Posted October 23, 2017 I bet most of those folks still working at 65-70 is because of poor planning and spending every penny they ever made. I saw a survey saying like over half of Americans in their 50’s only have 50 -100k saved for retirement. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted October 23, 2017 Share Posted October 23, 2017 8 minutes ago, racer254 said: I thought all the regulations by the FDA, EPA, et all as well as the laws to protect everyone against second hand smoke were supposed to be helping Americans live longer and better lives? IMO, the American diet is worse than second hand smoke. 2 minutes ago, Edmo said: I bet most of those folks still working at 65-70 is because of poor planning and spending every penny they ever made. I saw a survey saying like over half of Americans in their 50’s only have 50 -100k saved for retirement. Would not be surprised at all. Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted October 23, 2017 Share Posted October 23, 2017 16 minutes ago, Edmo said: I bet most of those folks still working at 65-70 is because of poor planning and spending every penny they ever made. I saw a survey saying like over half of Americans in their 50’s only have 50 -100k saved for retirement. I'm probably working until 70, because of three things: Excessively greedy ex wife who was a parasitic loss 15 years after we divorced, a large business failure, and from an actuarial standpoint, the best payout on SS is at 70 . Fortunately, I love what I do now, I come and go as I please, and it pays me very well. I don't know what data Greg is reading from, the Feds have been raising the retirement age for some time, and people are living longer than 20 years ago. Quote Link to comment Share on other sites More sharing options...
Edmo Posted October 23, 2017 Share Posted October 23, 2017 12 minutes ago, DriftBusta said: I'm probably working until 70, because of three things: Excessively greedy ex wife who was a parasitic loss 15 years after we divorced, a large business failure, and from an actuarial standpoint, the best payout on SS is at 70 . Fortunately, I love what I do now, I come and go as I please, and it pays me very well. I don't know what data Greg is reading from, the Feds have been raising the retirement age for some time, and people are living longer than 20 years ago. I can appreciate that if you love what you’re doing. I see a lot of older folks working shit jobs around here. Doesn’t look like they’re enjoying it. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted October 23, 2017 Share Posted October 23, 2017 17 minutes ago, Edmo said: I can appreciate that if you love what you’re doing. I see a lot of older folks working shit jobs around here. Doesn’t look like they’re enjoying it. One of my old contacts was still working at his rep firm well into retirement, he was 80. I asked him what are you still doing, he loved what he did and responded, 'What am I gonna do golf all day'. If you love what what do it's not working, it's getting paid well to do a hobby. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted October 23, 2017 Share Posted October 23, 2017 34 minutes ago, DriftBusta said: I'm probably working until 70, because of three things: Excessively greedy ex wife who was a parasitic loss 15 years after we divorced, a large business failure, and from an actuarial standpoint, the best payout on SS is at 70 . Fortunately, I love what I do now, I come and go as I please, and it pays me very well. I don't know what data Greg is reading from, the Feds have been raising the retirement age for some time, and people are living longer than 20 years ago. Ouch. Quote Link to comment Share on other sites More sharing options...
2strokemerc Posted October 23, 2017 Share Posted October 23, 2017 One guy on my crew has over 40 years of seniority and is over 65. He'll have to retire before he hits 71 but I'm pretty sure he'll stay to the bitter end. He admits that outside of work he really doesn't have much of a life. Another guy is going to make 50 years in the company unless he croaks first. A few others have gone past 40 years. I'm going at age 60 so I can enjoy the end of my life. Quote Link to comment Share on other sites More sharing options...
Edmo Posted October 23, 2017 Share Posted October 23, 2017 My dad was one that worked all the time. 2 and sometimes 3 jobs. Zero hobbies. He grew up in poverty and would take any job to make money, even if he didn’t need it. I was surprised when he actually retired. Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted October 23, 2017 Share Posted October 23, 2017 I cant really speak to the validity of the details in the OP but i know that it takes some effort to retire at an early age. I funded my 401k at 15% of my gross every year for 34 years. I paid off my home early. I never bought a brand new truck or car or snowmobile or any vehicle in my life. On the other hand I spent every cent I made outside funding my 401k. Life has been incredible abd it just leeps getting better. 5 1 Quote Link to comment Share on other sites More sharing options...
Anler Posted October 23, 2017 Share Posted October 23, 2017 1 hour ago, Edmo said: I bet most of those folks still working at 65-70 is because of poor planning and spending every penny they ever made. I saw a survey saying like over half of Americans in their 50’s only have 50 -100k saved for retirement. Ed, you are probably right, BUT.... I subsidize 3 elderly parents because all have health issues. And with health care costs today, one health crisis can put a hurting on your retirement plans quick. I'm seeing it more and more. Also, more seniors are raising their grand children now too. You can't just blame poor planning for everything anymore. Because some things you just can't control. The wife and I have been on a healthy lifestyle program for 6 months now. The foods we are being advised to avoid are nearly all of the foods you see in the grocery store and eating out is nearly impossible. Hormone/antibiotic free meats, non-gmo fruits and vegetables, no gluten, numerous food additives, no high fructose corn syrup, hormone/antibiotic free dairy, no white rice, no wheat flour, no processed sugar, no hydrogenated oils.... Grocery shopping is a fucking chore and expensive as hell. All of those ingredients we are to avoid are responsible for various illnesses. Directly responsible. Many are banned in other countries do to adverse health effects. But legal in this country. This blaming the victim shit just doesn't hold water anymore. There are too many odds against us now. You want to fix health care, this is an essential part of doing that. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted October 23, 2017 Platinum Contributing Member Share Posted October 23, 2017 (edited) Fuck SS. Worst thing to ever happen to the American workforce. 12.4% of your income doesn't get you shit. Edited October 23, 2017 by Highmark Quote Link to comment Share on other sites More sharing options...
Anler Posted October 23, 2017 Share Posted October 23, 2017 1 hour ago, DriftBusta said: I'm probably working until 70, because of three things: Excessively greedy ex wife who was a parasitic loss 15 years after we divorced, a large business failure, and from an actuarial standpoint, the best payout on SS is at 70 . Fortunately, I love what I do now, I come and go as I please, and it pays me very well. I don't know what data Greg is reading from, the Feds have been raising the retirement age for some time, and people are living longer than 20 years ago. I could see myself working well into my twilight years. Hopefull not because I have to but because i like to keep busy. I like interacting with people and taking on challenging tasks. despite how much I complain about it sometimes. Quote Link to comment Share on other sites More sharing options...
Anler Posted October 23, 2017 Share Posted October 23, 2017 24 minutes ago, AKIQPilot said: I cant really speak to the validity of the details in the OP but i know that it takes some effort to retire at an early age. I funded my 401k at 15% of my gross every year for 34 years. I paid off my home early. I never bought a brand new truck or car or snowmobile or any vehicle in my life. On the other hand I spent every cent I made outside funding my 401k. Life has been incredible abd it just leeps getting better. Happy for you Tom. You and your wife are good people and deserve it. 1 Quote Link to comment Share on other sites More sharing options...
hwytohell Posted October 23, 2017 Share Posted October 23, 2017 I have a friend that services the financial planning - retirement contracts for some major health care systems in northern / sunrise side of MI . He tells the story that only one out of three people have over 25k set aside in any retirement savings plan at age 50. Also most of those health care systems have zero retirement pension plans unless you have been employed over 30 years, and those programs were frozen years ago. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted October 23, 2017 Share Posted October 23, 2017 I plan on retiring in about 10 years, but I like what I'm doing, so we shall see. Quote Link to comment Share on other sites More sharing options...
Edmo Posted October 23, 2017 Share Posted October 23, 2017 When I was in my 20’s I worked for a guy that really pushed the 401k. He would spend a lot of time at the company meetings imploring people to join. He had a very generous matching program that made it foolish not to. I’m so thankful for that and wish more business owners pushed it like he did. Quote Link to comment Share on other sites More sharing options...
Anler Posted October 23, 2017 Share Posted October 23, 2017 6 minutes ago, hwytohell said: I have a friend that services the financial planning - retirement contracts for some major health care systems in northern / sunrise side of MI . He tells the story that only one out of three people have over 25k set aside in any retirement savings plan at age 50. Also most of those health care systems have zero retirement pension plans unless you have been employed over 30 years, and those programs were frozen years ago. There are several Pension funds that have gone tits up too. Guys worked for a company for 20+ years and then find out they got shit. This happened to a friend of mine who is still working in his 60's because he got fucked out of his pension. The feds didnt bail it out even after taking them to court. Sad. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted October 23, 2017 Share Posted October 23, 2017 2 hours ago, Edmo said: I bet most of those folks still working at 65-70 is because of poor planning and spending every penny they ever made. I saw a survey saying like over half of Americans in their 50’s only have 50 -100k saved for retirement. no doubt most don't have enough saved for retirement, hell we have people claiming they can retire at 40 or 50 with a million $ on these sites and not live like a pauper Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted October 23, 2017 Platinum Contributing Member Share Posted October 23, 2017 1 minute ago, Arctic Cat Destroyer said: There are several Pension funds that have gone tits up too. Guys worked for a company for 20+ years and then find out they got shit. This happened to a friend of mine who is still working in his 60's because he got fucked out of his pension. The feds didnt bail it out even after taking them to court. Sad. Why should the feds bail them out? And please don't say because they bailed out X, Y and Z because I'm against any financial bailout from the govt. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted October 23, 2017 Share Posted October 23, 2017 4 minutes ago, Edmo said: When I was in my 20’s I worked for a guy that really pushed the 401k. He would spend a lot of time at the company meetings imploring people to join. He had a very generous matching program that made it foolish not to. I’m so thankful for that and wish more business owners pushed it like he did. my employer was great as i got into the workforce in pushing people to join and our match was good. 3 of my 4 jobs had great plans with matches and encouraged participation Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted October 23, 2017 Platinum Contributing Member Share Posted October 23, 2017 6 minutes ago, Edmo said: When I was in my 20’s I worked for a guy that really pushed the 401k. He would spend a lot of time at the company meetings imploring people to join. He had a very generous matching program that made it foolish not to. I’m so thankful for that and wish more business owners pushed it like he did. We've done the same thing and its frustrating how many won't match funds. We use to do 10% no match needed but wanted to see if we could get more to contribute so we went to a matching format where we still would contribute 10% of they matched 4%. Generally its the single workers who won't contribute any of their own which I find crazy as they should have the least bills. Quote Link to comment Share on other sites More sharing options...
Anler Posted October 23, 2017 Share Posted October 23, 2017 5 minutes ago, Highmark said: Why should the feds bail them out? And please don't say because they bailed out X, Y and Z because I'm against any financial bailout from the govt. They took the company and the pension fund to court to seize assets of the company and owners. The federal court denied it. Quote Link to comment Share on other sites More sharing options...
hwytohell Posted October 23, 2017 Share Posted October 23, 2017 1 minute ago, Highmark said: Why should the feds bail them out? And please don't say because they bailed out X, Y and Z because I'm against any financial bailout from the govt. That is the pension time bomb waiting to go off for just about every state and local units of gubermint. The taxpayers will have to bail them out, there isn't enough week old bread or dented cans of food to go around. Quote Link to comment Share on other sites More sharing options...
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