How the older generation keep the flowing income after retirement
June 23, 2010 7:54pm CST
At the Kroger and other supermarkets, I saw some people work there over 65 of their ages, and I just wonder would I end up the same? As all you already knew, by the time we retire, the social security funds will be depleted, and we can only rely on ourselves. There weren't be enough younger generation workforces to support the retired ones. Although 401K is the last resort option, and our bit by bit savings. By when we retired, we must have a steady flow of income to keep ourselves to survive, don't we? If we stop working, where is that income coming from? In calculation of expenses, property taxes; medical insurance; car insurance; house insurance; utility; and food. The math just not right, and quite scary for the future. What do you think?
2 people like this
24 Jun 10
Most Provinces in Canada have no mandatory retirement age so you can work as long as you are able. OAS (old age Security) kicks in at 65, and CPP (Canada Pension Plan) can be drawn at age 60. I will be 77 in October and am still working every day in the summer. In the winter we go south to our winter home in South Texas for a winter holiday. Life is good in our old age in Canada!(and South Texas.)
24 Jun 10
Too many people go through life hoping to be "lucky," and end up, as you say, "struggling!" I made a plan as soon as I had my own home and family. My enduring interest in health, nutrition, yoga, and finance has stood me in good stead! For over 60 years I've stayed with my prospectus, and am now seeing the pay off. For instance, the yoga pose demonstrated by my avatar took me twenty years to perfect.
• Garden Grove, California
24 Jun 10
hi kingparker how do you think? we stay in our jobs as we cannot afford to retire on a pittance, and any way its been proven medically that older people who work do live much longer and are healthier, maybe we are not so useless in our senior years after all. I worked at the library until I was close to 80 and it sure did not hurt me. Also I am now 83 so will have a few more years yet.What is so bad about working in Kroger, you make it sound awful but it really is not that bad . To me retirement really stinks as all of a sudden you have no income but social security and all this time. so here I am really mylotting like crazy.