Author Topic: Delaying Retirement: 80 is the new 65  (Read 4338 times)

kkbmustang

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Jamesqf

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Re: Delaying Retirement: 80 is the new 65
« Reply #1 on: August 13, 2012, 07:27:24 PM »
Hell yes for me, even though I'm at a point where I probably could afford a modest retirement even before becoming eligible for SS.  As the end quote of that article says: "I don't know that I will ever want to retire, unless my health dictates that I must," said Sekula. "I love what I do."  And I love being productive.

You do know why 65 was picked as the official retirement age, back when SS first started (and Bismark's plan in Germany, well before that)?  It's because most people weren't supposed to live much past 65 anyway, so the system would never have to pay out much in benefits.   Today is a different story: there's a fairly sizeable segment of the public who've taken care of their health, exercised, and are as vigorous as people a couple of decades younger were a generation or two ago.

Mr Mark

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Re: Delaying Retirement: 80 is the new 65
« Reply #2 on: August 13, 2012, 09:47:31 PM »
That's why for me it's about Financial Independence,not 'retiring'. Just that you don't need the money to live. I want to be able to do a bit of this and that, some of which will make me money, some of which won't, but all stuff I enjoy doing.

In fact this whole idea that it's a binary thing - work like a slave 40+ hrs a week vs. spend all day playing golf and doing f**k all - should be forgotten.In fact, such a sudden transition must be downright unhealthy!

wiferkhart

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Re: Delaying Retirement: 80 is the new 65
« Reply #3 on: August 14, 2012, 08:32:29 AM »
I agree that going from full-speed to full-stop can't be healthy for us.  I watched the elders in my family go from active and mentally engaged workers to TV-watching zombies very quickly once they stopped working. 

But transitioning from full-speed at something we don't love down to a personally defined speed at something we could enjoy doing for the rest of our lives - that works for me.

As my husband, who's a Brazilian Ju-jitsu instructor says: "Retire from what?  I love what I do!"


galaxie

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Re: Delaying Retirement: 80 is the new 65
« Reply #4 on: August 14, 2012, 09:08:08 AM »
As my husband, who's a Brazilian Ju-jitsu instructor says: "Retire from what?  I love what I do!"

I'd love to retire from my job... and teach Brazilian Jiujitsu.  I think by the time I'm FI it might be a little hard on the body, but I should have some good years left if I'm responsible with my joints now.

Jamesqf

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Re: Delaying Retirement: 80 is the new 65
« Reply #5 on: August 14, 2012, 12:13:11 PM »
In fact this whole idea that it's a binary thing - work like a slave 40+ hrs a week vs. spend all day playing golf and doing f**k all - should be forgotten.In fact, such a sudden transition must be downright unhealthy!

In fact, there are studies that have shown this to be the case, e.g. http://www.webmd.com/healthy-aging/news/20051020/early-retirement-early-death

Also, this may just be a personal prejudice, but I've long thought that the desire to play golf must be one of the early warning signs of Alzheimer's.

CatM13

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Re: Delaying Retirement: 80 is the new 65
« Reply #6 on: August 16, 2012, 11:27:02 AM »
I agree that going from full-speed to full-stop can't be healthy for us.  I watched the elders in my family go from active and mentally engaged workers to TV-watching zombies very quickly once they stopped working. 

And this is what makes me wonder perhaps its not the retiring (at whatever age) that causes people to die but the lack of having something productive and engaging to do with their time. I can say personally when I found out that I could retire before 65 (say at like 35) I suddenly had to stop and think "What will I do with my time when I no longer work"?. I'm guessing the relatives/elders you mention never stopped to think what they would do (or at least I hope they didn't decide that TV watching would fill their days now).

gooki

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Re: Delaying Retirement: 80 is the new 65
« Reply #7 on: August 16, 2012, 04:17:07 PM »
I think that's the key that FI allows you to do, is to take your time and plan for the later stages of your life.

wiferkhart

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Re: Delaying Retirement: 80 is the new 65
« Reply #8 on: August 17, 2012, 07:08:30 AM »
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And this is what makes me wonder perhaps its not the retiring (at whatever age) that causes people to die but the lack of having something productive and engaging to do with their time. I can say personally when I found out that I could retire before 65 (say at like 35) I suddenly had to stop and think "What will I do with my time when I no longer work"?. I'm guessing the relatives/elders you mention never stopped to think what they would do (or at least I hope they didn't decide that TV watching would fill their days now).

What I noticed is the relatives who didn't have any hobbies or interests other than work and TV before retirement faired much worse than the folks who had something to look forward to doing.   It's a conversation the husband and I have had many times since neither of us are good at "doing nothing."  We're looking to do meaningful work now, as well as when we retire.  (Work being something you do that engages you and keeps you active and happy, not necessarily accompanied by a paycheck.) In our case, we're looking forward to retiring (hopefully by 45 or so!) and spending a few years building up our homestead while we figure out our next step.