Author Topic: How to Retire with Enough Money by Theresa Ghilarducci  (Read 998 times)

rudged

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How to Retire with Enough Money by Theresa Ghilarducci
« on: September 07, 2018, 07:35:43 PM »
I recently read this book written by a professor of economics that is intended primarily for people on the traditional path to retirement, not Mustachians. She gives some practical advice and ends with several policy suggestions intended to address the looming retirement crisis in the U.S. She makes one point in this book that I haven't heard made elsewhere. Many people assume they can continue working at their jobs as long as they need to to build up their retirement funds, but the choice may not be up to them. Illness or downsizing may lead a person to lose his or her job much sooner than expected. It is also unlikely that someone nearing traditional retirement age will be able to find another job in his or her specialty. As such, she predicts a flood of unprepared older workers into the job market for entry level jobs.

I think among our community there is a general presumption that if you retire early and miscalculate what you need, you can always return to the job market.  But I'm wondering if this realization comes ten or fifteen years after you have "retired" it really is that easy to get another job, particularly when you have to explain a big gap in your work history.

MDM

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Re: How to Retire with Enough Money by Theresa Ghilarducci
« Reply #1 on: September 07, 2018, 09:54:26 PM »
I think among our community there is a general presumption that if you retire early and miscalculate what you need, you can always return to the job market.  But I'm wondering if this realization comes ten or fifteen years after you have "retired" it really is that easy to get another job, particularly when you have to explain a big gap in your work history.
Reading between the lines, it seems you think the answer is "no, it won't be easy to get another job paying what the job that allowed one to retire early paid."  If so, I agree with you.

profnot

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Re: How to Retire with Enough Money by Theresa Ghilarducci
« Reply #2 on: September 23, 2018, 02:57:12 PM »
OP - I agree with you as well.

The largest growing segment of homeless in many large cities are people over age 65.  National public radio reported a rate of around 20% for Los Angeles. 

Bankruptcies by seniors are climbing as well, especially those involving high medical debt.

This is one reason to set up passive income streams that pay off in retirement or sooner.  Or at least mostly passive after some up front work.

Real estate investment trusts, creating something that will generate royalties, partner in a businesses, low risk loans to businesses, etc.