Retiring Minds Ought to Know

I suddenly got laid off at 59 and am now 60, still looking for work. My attempts at being self-employed have not been well rewarded so far. So instead of working 5 years longer than I planned, I've worked five years LESS - and IF I find another job it will almost certainly be at 3/4 or 2/3 or 1/2 what I used to make... Not good.

I'm looking into moving to Costa Rica or somewhere else. I have a bit of a nest egg from selling a house when I was hit with divorce, six years ago. Maybe I can make that stretch out for 20 - 30 years if my cost of living is really low, and I can supplement it a little bith with... something.

Star and Paula. Your posts could not be truthier (cred to Colbert for the word.) I keep hearing about life expectancy rising yet I have friends and family passing away at fearfully young ages. Having worked two jobs most of my life, one knowledge based and one manual labor I can attest to Paula's observation regarding the ability to perform as one ages. I have witnessed folks pushing on despite their pain just on shear stubborness (or whatever word you care to substitute.) But sit down in a bar over a few beers and they will tell you they are suffering and concerned about the level of their abilities. There is a misconception in this country regarding work ethic. Putting in more time does not necessarily mean more work or better outcomes. More often than not it means tired, safety and performance comprimised individuals. Ask any trucker after an 18 hour day.

Interesting information confirming what most of my friends and colleagues have known informally for years - we're going to have to provide for ourselves until we die. No pension fund is guaranteed, government programs will change radically as they become too expensive and we'll have to either keep working or have enough saved (and be careful where and how you save it - those funds can be rapidly depleted by financial chaos) to fund our "golden" years.

Luckily I'm a knowledge worker that does not have to rely on physical labor to earn my keep. Many of my friends, who are carpenters, machinists, electricians, road construction workers, etc., no matter how much yoga and weightlifting they do will likely not be able to perform their major duties in their mid-sixties and beyond. Most people in the trades start their careers earlier in life and often have worked 40+ years by the time they are sixty; these folks will have even more difficulties with retirement. Retraining for a desk job? Sales? What is going to happen to them?

Interesting information confirming what most of my friends and colleagues have known informally for years - we're going to have to provide for ourselves until we die. No pension fund is guaranteed, government programs will change radically as they become too expensive and we'll have to either keep working or have enough saved (and be careful where and how you save it - those funds can be rapidly depleted by financial chaos) to fund our "golden" years.

Luckily I'm a knowledge worker that does not have to rely on physical labor to earn my keep. Many of my friends, who are carpenters, machinists, electricians, road construction workers, etc., no matter how much yoga and weightlifting they do will likely not be able to perform their major duties in their mid-sixties and beyond. Most people in the trades start their careers earlier in life and often have worked 40+ years by the time they are sixty; these folks will have even more difficulties with retirement. Retraining for a desk job? Sales? What is going to happen to them?

Are people living longer? I don't really think so. Perhaps some seem younger at 50 but take a look at the obits and they are not living longer. My great grandmother lived to be 99 (died in the 60s), my grandmother to 89 (died in the 90s) and I hope my mom will live that long but she has had cancer at age 79 (unlike the other two.)