Author Topic: Why Retirement Is a Myth  (Read 5202 times)

o2bfree

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Why Retirement Is a Myth
« on: November 11, 2015, 02:49:37 PM »
Another complainypants article:

http://finance.yahoo.com/news/why-retirement-myth-050000940.html

"The inability to save isn’t because we’re wasting money on kitchen remodeling or fancy coffee, but rather because the cost of living has gone up — thanks to rising health-care costs and housing costs — while our salaries have stagnated or declined."

Rising health-care costs...maybe because people eat crap food and don't bother to exercise, then are delighted, even boastful, when the doctor gives them a pill to "cure" their high BP, cholesterol, blood sugar or whatever.

Rising housing costs, sure! Because you're a peon unless you live in a 3500+ SF house, oh, and have 2 humongous SUVs (Super-Unmustachian-Vehicles) in the garage. (The previous owners of our 1500 SF house raised four boys there...)

Oh, and what about those $20k kitchen remodels so the poor homeowner doesn't have to reach way back into a cabinet to fish out that $250 blender system that he/she uses twice a year? Totally irrelevant in light of the real problems!!

robtown

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Re: Why Retirement Is a Myth
« Reply #1 on: November 11, 2015, 03:05:41 PM »
We paid $20k for just the kitchen cabinets and appliances.   The total was about $60k and we did all the demolishing, clean up, electrical, and general contracting.   We also got the first floor, stairs, and second floor walls patched and painted,  and hardwood floor in half the first floor, stairs, and second floor hallway.    We'll get some back in the value added to our house.

No SUVs,  but I do have a 97 Dodge truck bought with hobby proceeds that we use as a real truck.

Another complainypants article:

http://finance.yahoo.com/news/why-retirement-myth-050000940.html

"The inability to save isn’t because we’re wasting money on kitchen remodeling or fancy coffee, but rather because the cost of living has gone up — thanks to rising health-care costs and housing costs — while our salaries have stagnated or declined."

Rising health-care costs...maybe because people eat crap food and don't bother to exercise, then are delighted, even boastful, when the doctor gives them a pill to "cure" their high BP, cholesterol, blood sugar or whatever.

Rising housing costs, sure! Because you're a peon unless you live in a 3500+ SF house, oh, and have 2 humongous SUVs (Super-Unmustachian-Vehicles) in the garage. (The previous owners of our 1500 SF house raised four boys there...)

Oh, and what about those $20k kitchen remodels so the poor homeowner doesn't have to reach way back into a cabinet to fish out that $250 blender system that he/she uses twice a year? Totally irrelevant in light of the real problems!!

o2bfree

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Re: Why Retirement Is a Myth
« Reply #2 on: November 11, 2015, 03:14:20 PM »
We paid $20k for just the kitchen cabinets and appliances.   The total was about $60k and we did all the demolishing, clean up, electrical, and general contracting.   We also got the first floor, stairs, and second floor walls patched and painted,  and hardwood floor in half the first floor, stairs, and second floor hallway.    We'll get some back in the value added to our house.

I'm guessing you can afford it. Not like a couple CWs of mine in their late 50s-early 60s who complain about not seeing retirement in their near future.

StockBeard

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Re: Why Retirement Is a Myth
« Reply #3 on: November 11, 2015, 03:18:04 PM »
Damn, and here I thought I could retire.... we're doomed, doooomed!

boarder42

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Re: Why Retirement Is a Myth
« Reply #4 on: November 12, 2015, 06:09:53 AM »
"Most Americans are actually willing to pay more in order to see Social Security preserved"

WTF Just save yourself you incomeptent people. 
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Faraday

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Re: Why Retirement Is a Myth
« Reply #5 on: November 12, 2015, 06:12:37 AM »
Another complainypants article:

http://finance.yahoo.com/news/why-retirement-myth-050000940.html
...

I'm getting SO TIRED of Yahoo news. They seem to be turning into a clickbait whorehouse.
FIRE in 2020.

One Noisy Cat

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Re: Why Retirement Is a Myth
« Reply #6 on: November 12, 2015, 06:35:51 AM »
   Living the myth and loving it! Today is bowling day. Get together with former co-workers and others including a 91 year old and an 85 year old who are reasonably young looking and active.

Faraday

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Re: Why Retirement Is a Myth
« Reply #7 on: November 12, 2015, 06:44:16 AM »
   Living the myth and loving it! Today is bowling day. Get together with former co-workers and others including a 91 year old and an 85 year old who are reasonably young looking and active.

Feeling *Love* and *envy* Noisy Cat! Thank you for making me forget about that stupid Yahoo article. HEY to your friends, hope you have a great time with them bowling!
FIRE in 2020.

Travis

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Re: Why Retirement Is a Myth
« Reply #8 on: November 12, 2015, 06:44:48 AM »
Another complainypants article:

http://finance.yahoo.com/news/why-retirement-myth-050000940.html
...

I'm getting SO TIRED of Yahoo news. They seem to be turning into a clickbait whorehouse.

Never seen Yahoo as clickbait, but pandering, juvenile, and recycled - hell yes.  Whenever someone complains about an article on MMM and it turns out to be from Yahoo News financial or not, my first reaction is "well no shit."
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dude

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Re: Why Retirement Is a Myth
« Reply #9 on: November 12, 2015, 08:33:12 AM »
Well, when the article says this:

"The GAO also says this fund will be insolvent by 2034, leaving many of us with nothing at all"

it pretty much loses all credibility.

zephyr911

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Re: Why Retirement Is a Myth
« Reply #10 on: November 12, 2015, 08:40:24 AM »
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

boyerbt

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Re: Why Retirement Is a Myth
« Reply #11 on: November 12, 2015, 08:56:49 AM »
"A Wells Fargo/Gallup survey found that 46 percent of their participants were either “very” or “somewhat” worried about outliving what they were capable of saving for retirement, with concerns about whether they could rely on Social Security checks alone."

I think I found the problem for each complainy-pants person. They are incorrect in their estimates on what they are CAPABLE of saving. Ditch some of the necessities items that are actually luxuries and cook a few more meals at home.

If you are concerned about not having enough money for retirement you should spend less and save more.

Common sense is dead...
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Dicey

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Re: Why Retirement Is a Myth
« Reply #12 on: November 20, 2015, 10:40:29 AM »
Another complainypants article:

http://finance.yahoo.com/news/why-retirement-myth-050000940.html
...

I'm getting SO TIRED of Yahoo news. They seem to be turning into a clickbait whorehouse.
Oh, gawd, I'm never going to look at Yahoo the same way again (emphasis mine). Say it three times fast. Too rich, too true! Thanks Faraday, I owe you one. You too, zephyr911.
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Faraday

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Re: Why Retirement Is a Myth
« Reply #13 on: November 20, 2015, 11:04:56 AM »
Another complainypants article:

http://finance.yahoo.com/news/why-retirement-myth-050000940.html
...

I'm getting SO TIRED of Yahoo news. They seem to be turning into a clickbait whorehouse.
Oh, gawd, I'm never going to look at Yahoo the same way again (emphasis mine). Say it three times fast. Too rich, too true! Thanks Faraday, I owe you one. You too, zephyr911.

You're Welcome, Dicey! I'd laugh about it except I have to trudge through that stuff depending on how I get to my yahoo email inbox. Being able to tell the difference between their bizarre advertisements. (You won't believe what she does next!)
FIRE in 2020.

gReed Smith

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Re: Why Retirement Is a Myth
« Reply #14 on: November 20, 2015, 11:19:06 AM »
I wonder why I know so many people who are retired then... many before the age of 65 ( but few before the age of 50).

Zephyr911, as the father of a young child, that picture pierced my eardrums.

Dicey

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Re: Why Retirement Is a Myth
« Reply #15 on: November 20, 2015, 11:27:25 AM »
Another complainypants article:

http://finance.yahoo.com/news/why-retirement-myth-050000940.html
...

I'm getting SO TIRED of Yahoo news. They seem to be turning into a clickbait whorehouse.
Oh, gawd, I'm never going to look at Yahoo the same way again (emphasis mine). Say it three times fast. Too rich, too true! Thanks Faraday, I owe you one. You too, zephyr911.

You're Welcome, Dicey! I'd laugh about it except I have to trudge through that stuff depending on how I get to my yahoo email inbox. Being able to tell the difference between their bizarre advertisements. (You won't believe what she does next!)
Ya, this is where I admit to having Yahoo, too. I have a gmail account, but never use it. Too lazy and I associate it with my old working days (and good riddance to you too, Outlook). I guess I've gotten adept at ignoring their advertising and mostly avoid the stupid articles. If I switch to something else, I'll just have to learn a new set of minefields, although mustachian suggestions are always welcome, of course.
I did it! I have a journal!
A Lot Like This
And hell yes, I am still moving confidently in the direction of my dreams...

Jeremy E.

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Re: Why Retirement Is a Myth
« Reply #16 on: November 20, 2015, 01:12:58 PM »
We paid $20k for just the kitchen cabinets and appliances.   The total was about $60k and we did all the demolishing, clean up, electrical, and general contracting.   We also got the first floor, stairs, and second floor walls patched and painted,  and hardwood floor in half the first floor, stairs, and second floor hallway.    We'll get some back in the value added to our house.

No SUVs,  but I do have a 97 Dodge truck bought with hobby proceeds that we use as a real truck.

Another complainypants article:

http://finance.yahoo.com/news/why-retirement-myth-050000940.html

"The inability to save isn’t because we’re wasting money on kitchen remodeling or fancy coffee, but rather because the cost of living has gone up — thanks to rising health-care costs and housing costs — while our salaries have stagnated or declined."

Rising health-care costs...maybe because people eat crap food and don't bother to exercise, then are delighted, even boastful, when the doctor gives them a pill to "cure" their high BP, cholesterol, blood sugar or whatever.

Rising housing costs, sure! Because you're a peon unless you live in a 3500+ SF house, oh, and have 2 humongous SUVs (Super-Unmustachian-Vehicles) in the garage. (The previous owners of our 1500 SF house raised four boys there...)

Oh, and what about those $20k kitchen remodels so the poor homeowner doesn't have to reach way back into a cabinet to fish out that $250 blender system that he/she uses twice a year? Totally irrelevant in light of the real problems!!
Hmmm I paid $74,000 for my first house and it has a kitchen in it.

wenchsenior

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Re: Why Retirement Is a Myth
« Reply #17 on: November 20, 2015, 02:47:53 PM »
Another complainypants article:

http://finance.yahoo.com/news/why-retirement-myth-050000940.html
...




I'm getting SO TIRED of Yahoo news. They seem to be turning into a clickbait whorehouse.
Oh, gawd, I'm never going to look at Yahoo the same way again (emphasis mine). Say it three times fast. Too rich, too true! Thanks Faraday, I owe you one. You too, zephyr911.

You're Welcome, Dicey! I'd laugh about it except I have to trudge through that stuff depending on how I get to my yahoo email inbox. Being able to tell the difference between their bizarre advertisements. (You won't believe what she does next!)
Ya, this is where I admit to having Yahoo, too. I have a gmail account, but never use it. Too lazy and I associate it with my old working days (and good riddance to you too, Outlook). I guess I've gotten adept at ignoring their advertising and mostly avoid the stupid articles. If I switch to something else, I'll just have to learn a new set of minefields, although mustachian suggestions are always welcome, of course.

I literally squint as I go through the main page, so as not to be enraged just by the headlines.

robtown

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Re: Why Retirement Is a Myth
« Reply #18 on: November 23, 2015, 07:31:11 PM »

Hmmm I paid $74,000 for my first house and it has a kitchen in it.

My parents bought a house in Vienna VA for $65k  that was worth $500k years later when the Metro moved in.   Years ago it was demolished to make room for a mcMansion.   
We paid $256k for our house and have refinanced too many times.   We had a single income for 13 years, and bought pre-paid 529 plan college educations for our two children.   We refinanced 3 years ago at 2.25%  5/1 ARM but will have the mortgage paid off in 2 years.   Until this last update all of our work was DIY,  covering every room of the house,  and the deck.

I'm guessing you can afford it. Not like a couple CWs of mine in their late 50s-early 60s who complain about not seeing retirement in their near future.

Yes, we can,  though I would have  preferred to spend less money.   We had the money saved already,  when the company I worked for got bought out and we had a moderate windfall.   The tax man promptly took 40% or so.   I almost want to pay off our 2.25% mortgage because I cannot convince my spouse to move the remainder of those funds out of a 0.75% credit union savings account.    My wife retires in 2 years, and I have 3 - 6 years left.  It won't be FIRE since we are almost 60.