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Author: [General Discussion] Topic: Our ridiculous approach to retirement
be easy send a private message View Space | Blog | Friends | Playbook |
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#1
Posted: 7/24/2012 8:29:23 AM
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Seventy-five percent of Americans nearing retirement age in 2010 had less than $30,000 in their retirement accounts. The specter of downward mobility in retirement is a looming reality for both middle- and higher-income workers. Almost half of middle-class workers, 49 percent, will be poor or near poor in retirement, living on a food budget of about $5 a day.


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jmilrod
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#2
Posted: 7/24/2012 8:41:32 AM
retirement is for dead people
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#3
Posted: 7/24/2012 8:51:10 AM
More than 80mil baby boomers in the next twenty years will retire with insufficient funds.  Those are just estimates.  People will be working until they are seventy. 
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#4
Posted: 7/24/2012 8:55:30 AM
QUOTE Originally Posted by 2169:

More than 80mil baby boomers in the next twenty years will retire with insufficient funds.  Those are just estimates.  People will be working until they are seventy. 


what jobs?
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Randisist
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#5
Posted: 7/24/2012 9:13:18 AM
QUOTE Originally Posted by be easy:



what jobs?


Sad but true...
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#6
Posted: 7/24/2012 9:32:09 AM

let them eat cake...

in all seriousness, along with savings, i hope to be self sufficient enough to be able to get by...i hope  

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#7
Posted: 7/24/2012 10:52:49 AM
QUOTE Originally Posted by be easy:



what jobs?

I've got over 20 currently open.  There are plenty of jobs out there. Engineering Manager, Graphic Designer, Design Engineer, Software Developer, Machine Builder, Electronic Technician, Supplier Quality Engineer, Mechanical Inspector, Mechanical Drafter, etc., etc., etc.

  
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#8
Posted: 7/24/2012 11:37:56 AM
QUOTE Originally Posted by HutchEmAll:


I've got over 20 currently open.  There are plenty of jobs out there. Engineering Manager, Graphic Designer, Design Engineer, Software Developer, Machine Builder, Electronic Technician, Supplier Quality Engineer, Mechanical Inspector, Mechanical Drafter, etc., etc., etc.

  

exactly if you want to work, there is stuff to do.
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#9
Posted: 7/24/2012 11:45:12 AM
Thought all our jobs went overseas?  The mortgage investment meltdown did not help and triggered our great recession.  Stimulus spending was not the answer as our national debt rose to trillions.  The wars did not help.  We owe China billions.  Japan has a lot of our treasury bills.
     To be honest, here in Hawaii, the retirees maybe better off.  Their homes are probably paid off and kids out of school, collecting their pensions which are not taxed by the state.  Younger guys, mortgages may run in the 1800-2500 range, sending their kids to USC for 40k a year.  As a state retiree I have defined benefits pension plan and medical coverage provided by the state.  Social security adds more.  We have so many retirees here that are double dippers, receiving both state and federal pensions, say federal fire-fighters who put time in at Pearl Harbor or Kaneohe Marine Corps Air Base Hawaii then get out and work at a state job for at least whatever time it takes to get vested to receive benefits.  City and county and state workers all belong to the same retirement system.  You are talking police, fire, emer, teachers, univ. , parks and rec., blue collar, white collar.  You need not have much saved if your pension plan is good.  My classmates in LA are doing much better.  Their monthly pension is near 7k a mo.  And their cost of living is lower, like gas and food.
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#10
Posted: 7/24/2012 12:04:50 PM

70%.............

people are stupid.

my p's just retired. palm desert area. both are 62. gated comm house paid in cash. about a mil in liquid portfolio. pention, ss, and a 401k that will keep being added to the pile never being touched.

30 + yrs in the grocery exec business industry. wud of been sooner if 401's were around before they were offered or if pops wud of just invested in costco in the 80s...

its possible. just wrk hard, balance your budget wisely always thinking of tomorrow, dont over indulge, and the road will be there...

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#11
Posted: 7/24/2012 12:05:33 PM
QUOTE Originally Posted by HutchEmAll:


I've got over 20 currently open.  There are plenty of jobs out there. Engineering Manager, Graphic Designer, Design Engineer, Software Developer, Machine Builder, Electronic Technician, Supplier Quality Engineer, Mechanical Inspector, Mechanical Drafter, etc., etc., etc.

  

 Are all of these for the same firm? Do they all require degrees?

 It's unfortunate that many companies get hung up on only hiring someone with a degree & bypassing people with great experience directly related to the job opening.
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#12
Posted: 7/24/2012 1:15:13 PM
legalize pot it will save the country
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#13
Posted: 7/24/2012 1:46:48 PM
QUOTE Originally Posted by HutchEmAll:


I've got over 20 currently open.  There are plenty of jobs out there. Engineering Manager, Graphic Designer, Design Engineer, Software Developer, Machine Builder, Electronic Technician, Supplier Quality Engineer, Mechanical Inspector, Mechanical Drafter, etc., etc., etc.

  
.    These are highly skilled trades.  I am sure computer programmers, data entry op, graphic designers, technical and technology jobs are out there.  Professional work like doctors, lawyers, nurses, teachers, etc. are there.
     What worries me are jobs that are like farmers and fishermen and coal miners and painters and plumbers and sheet metal workers and steel workers and dry wall and electricians and plumbers and stevedores and tug boat operators and harbor pilots and air refrig.  workers and bakers and carpenters and mechanics, etc. are not popular with the youth of today.  They want to be like Steve Jobs or Bill Gates or like the guys from Google who made their riches without doing the dirty work.  It is a different age and time, more and more material and less and less spiritual and it is shrinking with the Internet and cell phones and iPhones and iPads and emails and Twitter and Facebook.  Our infrastructure is crumbling, like our bridges, dams, highways, sewers, schools, etc.
     The banks seem to have a lot of money, but economy is not rebounding .  Unemployment is high, lucky in Hawaii tourism is booming as the Asian market, China and S. Korea seem to be well.  Japan is doing very well considering the tsunami of last year.  We depend a lot on tourism for jobs and revenue.  We don't build cars or manufacture or export goods like coal or oil so tourism is our life blood.  That goes down, we are in trouble.  We will be building a 5.5 billion dollar rail so that should help construction here.  And Koa Ridge development approved a 5,000 home subdivision for Castle and Cooke here so more construction work should be available.  But most of our youth leave for mainland USA for better opportunities and wages and lower cost of living, can't blame them.  Lots of retirees go too.  LOL!  I only go to LV, four times a year.
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jmilrod
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#14
Posted: 7/24/2012 2:16:43 PM

that's it

 

 

i'm moving to Hawaii

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