Retirement Plan?mike8591
offlineMember
Lately I've started to thinking about my retirement... mainly because I met with few friends, and they started to talk about their last cruise, how great it was and that their are planing another one... I still have few years before retirement, but no plan for it. So I start searching in the web some useful advices, check what I found: http://phasecorp.com/index.php/The-Baby-Boom-Experience.html
It seems pretty practical for me, hope it would be also useful for you.
Joe Hauckes
offlineKey Master
Hey mike,
Welcome. I too have not really made any plans for retirement, other than continuing to work online in some manner.
Not really a plan, but if I can still type, I can still work. 
bob3660
offlineMember
Ya know...I think we first need to define what "retirement" really is, as things have changed dramatically since our parent's RETIRED.
It used to be that you went to work for a company, you stayed there for 30 - 40 years and then when you turned 62 or 65, you RETIRED and pretty much lived on your social security check and you saved-up for a long-awaited cruise to who knows where and you took a small vacation each year with your spouse until you died.
For me at least, it's more about working because you want to work rather than NEEDING to work, and having the freedom to do what you want and when you want to do it.
I've always enjoyed the freedom of being self-employed. I've been able to set my own hours to a certain degree, and I've taken vacations when "I" wanted to take a vacation, and not when the HR Department of a company tells me that I can and for how long.
Actually, I just returned from 6-days in Hawaii and now I'm back working again, and it was on MY schedule. So having that kind of flexibility, I can't imagine NOT working.
Banjo Steve
offlineMember
Redefining retirement is most definitely the task. I prefer to use the term "redirection". Work and an optimal amount of stress are what keeps us vibrant. The main difference is that we now get to choose what we want to work at and how we wish to challenge ourselves - with the need for $ being less of an influence (if we have been able to be financially prudent and fortunate).
Joe Hauckes
offlineKey Master
Hey Steve,
Welcome to the Forum.
I agree that retirement needs to be redefined, unfortunately, it seems other people are doing all the redefinining for us.
If we can see our way clear, this can be a great time of our lives. I just wish that the money we put into our retirement were worth what it was when we invested it.
Banjo Steve
offlineMember
Hi Joe. No, I think that others have been doing the defining and creating expectations before we got here. The whole idea of retirement is pretty novel, and the kinds of entitlement/consumer - think have often created havoc. Not too long ago, people worked until they couldn't, then they had their kids take care of them.
Life is fragile. Investing is fragile. We were hit with a recession, but we weren't all that far from another major depression (people seem to ignore that reality and choose to stay with a "woe is me" mentality). And the vast majority of our generation really was limited in what they could afford to save anyway. Thus, they never had anything to lose in the first place. Retirement for them was/is never an option, really.
I choose to define my retirement without dependence and expectation that I "deserve" to have the frills of the glitzy retirement image (country club membership, expensive restaurants, world travel, fancy senior citizen communities). Yes, we lost money, but much of it was inflated bookkeeping, anyway (which we bought into because it fed into the illusion of wealth).
Our true wealth lies in the strength of our spirits, the health of our daily activities, and the vitality of keeping our lives optimally challenging, unless the kind of car you drive is critical to you self-definition.
Joe Hauckes
offlineKey Master
Steve,
Right now, I have a roof over my head (only because the mortgage is paid) but the cost of living keeps going up contrary to what the government says. My income has not increased,as a matter of fact, it has decreased if you count my ability to pay for the necessities of life.
I don't want some high falutin (sp?) way to retire, but I DO want to be confortable and still able to put food on the table.
Just my opinion, but that doesn't seem to be in the cards in the not to distant future.
monstrosity
offlineMember
I was talking to a friend last week who's good at giving retirement advice. According to her the greatest problem retirees and other seniors face is long term care. this is because long term care services are very expensive throughout America. Here's a good website that will help you plan for LTC http://www.completelongtermcare.com
debv54
offlineMember
The thought of retiring scares me silly. I spent 16 years outside the States so my social security account and pension plan need building up. I contribute as much as I possibly can and still have enough to pay my bills. I can definitely see myself working till I'm 75. My immediate supervisor is already 67 and has no plans to retire and she's been with the company for over 30 years. My thoughts upon retirement won't be where to take a vacation, but just on learning how to survive.
Anonymous
offline
Interesting thoughts. I'm glad I've found this topic. Does anyone have any ideas for diversification of retirement income? Maybe, there is some more ways to build up passive income? Thanks!
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