what preparation you face later retirement age?
By advokatku
@advokatku (4033)
Indonesia
January 18, 2010 12:02am CST
Dear All,
Regardless of your age now, you will reach retirement age (55 years) and then you need to GET OUT of the work provided by your EMPLOYER. At that time, ready or not ready, you should be AWARE for REAL replaced by a younger, intelligent, energetic and cheap (low wages).
Therefore, you should think "WHAT WOULD YOU DO?" that time, until you die.
Have you ever wondered how the cost of living that you need for 25 years (if you're planning to die at age 80 years)? If you are currently aged 30 years and your living expenses for Rp.3 million, then at age 55 it costs to be Rp.32.5 jt (by assuming 10% pa inflation).
Let's say your living expenses decreased to 80% or Rp.26 jt, then your living expenses for 25 years is Rp.7, 8 billion, by assuming does not cost inflation and you not sick and could not walk to HAWAII.
You not want the pension be a parasite for your kids, right? so … what preparation you face later retirement age?
2 people like this
6 responses
@moonlitmagikchild (22181)
• United States
18 Jan 10
well for my generation they pushed back retirement age to 67 now so i have more time and with not having kids i need to plan ahead well.. right now im just trying to be debt free (all i have is my house left) and then really invest more
@moonlitmagikchild (22181)
• United States
21 Jan 10
as in i dont want to be at retirement age and still owe on my house, car, credit cards, college etc.. so many people dont think about how they are going to pay for things they charge now when they get older till its too late
@advokatku (4033)
• Indonesia
19 Jan 10
free from debt?? ... really interesting but what might be in our lives are freed by debt ....???
1 person likes this
@williamjisir (22819)
• China
18 Jan 10
I think that it is hard to predict the living expense after retirement, especially when you are still so young for the retirement. You know, living cost may vary based on each period of time year by year. But there is one thing that is so so true of us, which is to live every moment of ours within means and save every penny for it. Better prepared for it than not. Yes?
@advokatku (4033)
• Indonesia
19 Jan 10
yes, your opinion is true. really difficult to predict the cost of living for 10 to 20 years to come, but there is nothing wrong from this moment you save or invest your funds in several investment products
@williamjisir (22819)
• China
19 Jan 10
Yeah, it is a good idea to invest your money on some reliable projects to make more money. Right now it seems that investment in real estate makes fast and easy money. Good luck with you, friend.
@se7enthbird (8307)
• Philippines
20 Jan 10
wow it never cross my mind yet to think about it, but since you opened it up i guess we all need to have plans for our future. the future that we all need to face and we should be financially stable when that time comes. i hava a four year old son and my wife is a stay at home mom since she gave birth. i dont know yet when are her plans on getting back to work but i wont insist. i love seeing it that she is hands on with our child. i work in a band though this work does not really require an age bracket, and this work the older you are the more you get better i guess i still need to plan for it. thanks for opening my eyes.
@dawnald (85137)
• Shingle Springs, California
22 Jan 10
In the US we have retirement savings accounts. I am putting money into mine and my employer is also putting some funds in. Once I retire, I hope that, in addition to Social Security, I will have enough to live off of. I do have some bills I need to pay off though.
@JenInTN (27514)
• United States
18 Jan 10
At the rate I'm going..I won't retire..LOL..I do have a 401K plan that saves some of my earnings for retirement. Every year thre are advisors that visit the company to talk about our personal portfolio. They tell us what we need to do or how much we need to put in. Sometimes you just can't afford what it is you need to save.
@PeacefulWmn9 (10420)
• United States
19 Jan 10
This is such a difficult question for those of us in America already at or past retirement age. I lost my retirement account when Wall Street crashed, so I have to keep working, as do most others here. We do not have time to recoup the losses and Social Security is not enough to live on...and many of us are without any health insurance.
Seriously, I do not know what to do but what I am doing now...still working, cutting corners, and saving every penny I can, and speaking out to the govt. on vital issues and changes that need to be made.
Karen