[HN Gopher] About 25% of Americans age 50 and older expect to ne...
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About 25% of Americans age 50 and older expect to never retire,
AARP study finds
Author : sisib
Score : 21 points
Date : 2024-04-25 21:36 UTC (1 hours ago)
(HTM) web link (abcnews.go.com)
(TXT) w3m dump (abcnews.go.com)
| bhaney wrote:
| How well does "expect to never retire" correlate with "actually
| never retires"?
| kyleee wrote:
| That would be a good bit of info to know but also the
| retirement situation is changing quite rapidly by the decade so
| the correlation may not be as instructive as it could be if
| things were static
| zero-sharp wrote:
| I'm confused. This is about retirement savings and cost of
| living. If they don't already have a retirement savings, how
| would they after the age of 50?
| sp332 wrote:
| Downsizing, or debt.
| zero-sharp wrote:
| I don't know. If I had the option to downsize and retire, I
| probably wouldn't go around saying that I expect to never
| retire.
| rufus_foreman wrote:
| The majority of people retire sooner than they want to.
|
| "In the Transamerica survey, 56% of retirees said they retired
| sooner than they had planned. A much smaller share, 7%, retired
| later than expected. Only 37% retired on their own schedule."
|
| ...
|
| "nearly half of those who retired earlier than planned blamed
| their health: physical limitations, illness or disability.
| Roughly two-fifths blamed their jobs: They were laid off,
| downsized or lured into early retirement, or they were no
| longer happy at work."
|
| ...
|
| ""We ask retirees why they retired sooner than planned and, by
| and large, it's due to either personal health issues or
| employment-related issues. They may get laid off, bought out,
| reorganized, and it's extremely difficult for older workers to
| find work.""
|
| -- https://www.cincinnati.com/story/news/2024/01/26/the-
| average...
|
| That's a random survey but you will find many others that say
| the same thing. If you're planning on never retiring, you're
| not planning.
| ttymck wrote:
| Indeed, God forbid I be seen as a leech or freeloader
| betaby wrote:
| Most of the developed world has effective tax rate of 30-50%
| https://en.wikipedia.org/wiki/Tax_Freedom_Day Given that fact I
| find pensions are very low in Canada/USA. I don't see pension-
| age population as freeloaders.
| JohnMakin wrote:
| I've already made peace with the fact I likely will not - my
| income has gone up 8x in 10 years and I'm still barely keeping up
| with the cost of things, barely any real savings, etc. I'm just
| very lucky to have no real debt. Now, wages are kind of
| flatlining and stagnating at my current level. Prices always
| increasing at a savage pace. And I'm one of the ones that's doing
| _well_ compared to my peers - I have friends that I am doubtful
| they will survive into older age without significant government
| intervention.
|
| I am just trying to stay healthy enough to be able to stay sharp
| enough to work into my 70's. I think the system is "working as
| intended" honestly - if workers are constantly worried about
| basic survival, how can they ever organize? It keeps people in
| line far too often, all the while the wealthiest keep getting
| wealthier. I have a very hard time taking anyone seriously that
| says this system is working well (at least in the US).
|
| I'm not even mentioning the fact that if you are <40 there is
| virtually no chance you are going to get social security benefits
| - the political elite nowadays don't even try to pretend like
| that's not a thing anymore.
| 48864w6ui wrote:
| What percentage of Americans even have the recommended 6 months
| of living expenses in liquid savings?
| grobgambit wrote:
| I don't expect to ever want to retire. I took 2022 and 2023 off
| to do independent research while living on savings.
|
| I didn't find a job because of finances but because of being
| unbelievably bored and unmotivated after the first year.
|
| The worst part is that the two years subjectively felt like they
| went by in a blink of an eye. That is not really what you want in
| retirement with what waits for you at the end.
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