Time to Retire the Idea of Retirement

[Wormius]

Originally Posted by darklord700

I have 7 weeks right now and it's getting expensive to have days off. I don't want to sound like a looser and tell people I just do staycation aka sitting at home with nothing to do. But to actually go anywhere is $200 a night for accomodation for a family of 4.

Accommodations are kind of a fixed cost whether it's 2, 3, or 4 people. Unless you spend that amount on hotels anyway.

In any event, join some Meetup groups. You can find ways to occupy every day with something.

[darklord700]

What's a meetup group? Is it like those AA groups?

[rayne008]

Originally Posted by GP_Matt

We have a guy in our office who comes in at 5 in the morning every day to avoid suspicion from his wife when he leaves similarly early in the summer for a golf game. He is old enough and should be financially able to retire comfortably but is afraid that if he does his wife won't allow him to go golfing and he will have no ready built lie to get out of the house.
(He actually keeps his clubs in the office year round to avoid suspicion)

That is awesome.

[Phanuthier]

Originally Posted by darklord700

What's a meetup group? Is it like those AA groups?

http://www.meetup.com/

I'm sure they have mani/pedi meetup's too......in case you are interested.

[4X4]

Originally Posted by GP_Matt

We have a guy in our office who comes in at 5 in the morning every day to avoid suspicion from his wife when he leaves similarly early in the summer for a golf game. He is old enough and should be financially able to retire comfortably but is afraid that if he does his wife won't allow him to go golfing and he will have no ready built lie to get out of the house.
(He actually keeps his clubs in the office year round to avoid suspicion)

Originally Posted by rayne008

That is awesome.

No, that's brutal.

[rayne008]

I was referring more to the setting up of a routine that lets him golf in the morning, not the state of the relationship between husband and wife.

I have young kids, so 5am is my only time to get work outs in. If only I could work in 9 holes in the summer.

[missdpuck]

If I retire, how will I use the excuse "I'm too busy at work", "they won't let me have the day off" lol

[Calgary14]

I work with a guy who has a secret credit card and he gets the statements delivered directly to work so his wife won't find out. No idea what he uses it for. I also worked with a guy who ordered wine directly to work and hid it from his wife as he didn't want her to find out how much he was spending on wine. No, I am pretty sure he wasn't an alcoholic.

To each their own I suppose.

For cheap vacations I'd recommend camping as someone else mentioned. No need to buy a $50k trailer. A $200 tent works just fine. We camp at least a week in our tent and love it

[Calgary14]

Sorry for the double post here - can't seem to delete this second one

[Sylvanfan]

Originally Posted by Slava

Wow, I wouldn't say good for them at all. I mean it's good that they still can work obviously, but I have a feeling that given the choice they wouldn't be. Specifically the iron worker with a knee replacement probably wishes he was done.

Actually, he's the one who most wants to be there. He also still farms as well when he's not out on site. He only wanted to be off for a week after his knee replacement. He's one of those guys who's wired that he has to be working at something or he's not happy. You never hear him talk about money, it's always work stuff.

I hear the two in my department gripe about money...but fact is they both own houses they could sell, and at their ages thats enough to pay rent the rest of their lives. I think their retirement expectations are a bit out of whack. Plus they don't have any hobbies either, having a job gives them something to do.

[corporatejay]

I think if you are 65 and you like what you do, why not keep doing it, unless it is preventing you from doing something you really like.

Also, I think turning off the tap is kind of scary for some people. If you're a professional and can consult, still make money and work 6-7 months year, seems silly to stop because you're 65. If you are in bad health that's one thing, but I know a lot of 65 year olds who are surprisingly fit.

[Azure]

Well, society would be much better off if the baby boomers would work longer. How many people do a staged retirement?

Say at age 65, you start taking 2 months off every year to do what you want. 2 years later 4 months. See how you like it. I just don't think retirement is as great as people think it is. I honestly see myself working in some capacity until I die. I love what I do and see no reason to ever walk away from it.

Sure, I'll absolutely slow down and take more time off. But I doubt I'll ever fully walk away from it.

[Johnny199r]

I agree with a staggered retirement. 2 people in my office job share - alternate working every 3 months. They travel when off of work and get to earn good income and keep their mind sharp by working half time. I'd like to ease into retirement that way.

[Azure]

Especially for experienced people. Everyone knows we have a skilled worker shortage. Some of these old geezers that have 40 years experience could stick around a while longer in training roles. Just slow it down and work at a more relaxed pace. Take a week off every month.

[flamesfan1297]

Originally Posted by fotze

Ha, that's like my wife's grandparents. He was just waiting for the wife to die so he could start having fun. Wasn't even allowed to have cookies. Now the 90 year old is living with a 27 year old Korean girl.

A 27 year old. Damn shes a gold digger. No offense

[GomerPile]

The idea of retirement is an interesting one for every age group, what your retirement number is, is different for everyone. For me it is insane in the lack of participation in stock matching, rrsp matching, pension matching that happens at a company. My companies enrolment is well under 30%, my wifes is under 25%. The reason seemingly being "I/We can't afford to put this money away". People complain when their bonuses may be less then the "max" but don't take the time to put a little bit of their own money in the ring to get what essentially is a bonus. I can understand that if your company stock/plan is a poor preforming one, but to say "I can't afford to gain more money" is completley assinine. I know of at least one company (not ours) that match up to 20% of an employees salary if they participate in the share purchase plan. Please share the reasons you do or don't participate, because by the number 60-75% of people do not.

[HockeyIlliterate]

Originally Posted by GomerPile

The idea of retirement is an interesting one for every age group, what your retirement number is, is different for everyone. For me it is insane in the lack of participation in stock matching, rrsp matching, pension matching that happens at a company. My companies enrolment is well under 30%, my wifes is under 25%. The reason seemingly being "I/We can't afford to put this money away". People complain when their bonuses may be less then the "max" but don't take the time to put a little bit of their own money in the ring to get what essentially is a bonus. I can understand that if your company stock/plan is a poor preforming one, but to say "I can't afford to gain more money" is completley assinine. I know of at least one company (not ours) that match up to 20% of an employees salary if they participate in the share purchase plan. Please share the reasons you do or don't participate, because by the number 60-75% of people do not.

I suppose it depends on the details of the share purchase/match plan, but I would be reluctant to put any of my savings into my employer's stock. I depend (to some extent) on my employer for my salary (and thus to satisfy my current living expenses); I will not, however, depend on my employer for my retirement.

It is just too risky in my view to have one employer's stock as a portion of their investment portfolio. Enron, WorldCom, and all of that.

That said, I'm certainly a participant in a 401k plan and set aside enough to get the maximum match from my employer (which is invested in something other than my employer's stock).

[darklord700]

I have worked for companies that match 10 for 1, 4 for 1 and 1 for 1 for stock purchase plan. I didn't participate in the 10 for 1 plan as there isn't much upside to it. I did participate in the 4 for 1 and 1 for 1 as you are protected somewhat if the stocks should crash.

[prime333]

Originally Posted by fotze

Ha, that's like my wife's grandparents. He was just waiting for the wife to die so he could start having fun. Wasn't even allowed to have cookies. Now the 90 year old is living with a 27 year old Korean girl.

Gold Digger much?

[Wormius]

Originally Posted by fotze

That's a lot nicer that what the family is calling her. He has bought her an apartment that overlooks Manhattan in Fort lee as he music studio where she also partially lives her boyfriend and her mother.

What are they complaining about? Imagine what a 19-year old would have cost him (or them, inheritance-wise). They should be rejoicing.