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| Looking forward to the golden years?; You may want to rethink your retirement | |
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| Tweet Topic Started: Jan 21 2009, 07:31 AM (604 Views) | |
| Jamie | Jan 21 2009, 07:31 AM Post #1 |
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Junior Carp
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This interesting paper made the rounds here this morning, and I thought I'd share. Not sure if it's been discussed yet, but those of you who plan to work your ass off until you're 65 may want to think twice about that. thoughts on retirement |
| Rudy - September 1, 1998 - April 8, 2009... One awesome dog | |
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| Mikhailoh | Jan 21 2009, 07:36 AM Post #2 |
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If you want trouble, find yourself a redhead
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That's one company, in an incredibly volatile industry. I would not take that to mean much. But then I don't work my ass off. Hard work is overrated. Smart work produces accomplishment. |
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Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball | |
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| brenda | Jan 21 2009, 07:40 AM Post #3 |
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..............
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The article fails to mention the magic way to reach retirement level sustainable income by age 55. If it was so easy to do, ...... |
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“Weeds are flowers, too, once you get to know them.” ~A.A. Milne | |
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| JBryan | Jan 21 2009, 07:41 AM Post #4 |
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I am the grey one
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Great. Another study to show that I am all washed up and will never retire. |
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"Any man who would make an X rated movie should be forced to take his daughter to see it". - John Wayne There is a line we cross when we go from "I will believe it when I see it" to "I will see it when I believe it". Henry II: I marvel at you after all these years. Still like a democratic drawbridge: going down for everybody. Eleanor: At my age there's not much traffic anymore. From The Lion in Winter. | |
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| Improviso | Jan 21 2009, 07:52 AM Post #5 |
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HOLY CARP!!!
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I had heard of this. I heard it as loses 3 years for every year worked past 55. All due to work stress. It was a MAJOR consideration for me last year in deciding to take an early retirement package that was offered by my company.
Again, I have personally witnessed this, with both family and friends. I was one of those people who absolutely loved what I did for a living. I couldn't believe I got paid (quite nicely) to do what I did. I always thought I'd work till 65 because it was so much fun. But around age 50, things changed and I started to seriously think about getting out of the rat race. It took me about 4 years to get things in order to make it possible. The early out package was just the icing on the cake to put me over the edge. Thanks for that article. It adds validity to what I already thought. (EDIT: of course, as you'll see later in this thread, Jeffrey has whizzed on my parade)
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Identifying narcissists isn't difficult. Just look for the person who is constantly fishing for compliments and admiration while breaking down over even the slightest bit of criticism. We have the freedom to choose our actions, but we do not get to choose our consequences. | |
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| VPG | Jan 21 2009, 08:17 AM Post #6 |
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Pisa-Carp
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I wonder if he is talking about "Brainiac's" or everyone? As some of you know I spent my entire working life in sales. I, and most of the best and most creative salespeople have been in their late 30's. I know I thought I was God's gift in my 20's, boy was I wrong. |
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I'M NOT YELLING.........I'M ITALIAN...........THAT'S HOW WE TALK! "People say that we're in a time when there are no heroes, they just don't know where to look." Ronald Reagan, Inaugural, 1971 | |
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| brenda | Jan 21 2009, 08:29 AM Post #7 |
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..............
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You saved that part, being God's gift, for now, right?? I know you have a definite gift of culinary talent. |
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“Weeds are flowers, too, once you get to know them.” ~A.A. Milne | |
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| QuirtEvans | Jan 21 2009, 08:38 AM Post #8 |
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I Owe It All To John D'Oh
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I think you misread the story, JB. You'll retire. You'll just die soon thereafter. |
| It would be unwise to underestimate what large groups of ill-informed people acting together can achieve. -- John D'Oh, January 14, 2010. | |
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| Mikhailoh | Jan 21 2009, 08:42 AM Post #9 |
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If you want trouble, find yourself a redhead
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What this points out is that you should not work in a pressure-cooker environment. |
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Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball | |
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| Kincaid | Jan 21 2009, 08:49 AM Post #10 |
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HOLY CARP!!!
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So, either quit by 55 years old or keep working and you'll live forever? |
| Kincaid - disgusted Republican Partisan since 2006. | |
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| JBryan | Jan 21 2009, 08:49 AM Post #11 |
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I am the grey one
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No, by the time I retire I will already be dead. Heck, I might be dead now. |
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"Any man who would make an X rated movie should be forced to take his daughter to see it". - John Wayne There is a line we cross when we go from "I will believe it when I see it" to "I will see it when I believe it". Henry II: I marvel at you after all these years. Still like a democratic drawbridge: going down for everybody. Eleanor: At my age there's not much traffic anymore. From The Lion in Winter. | |
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| brenda | Jan 21 2009, 08:51 AM Post #12 |
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..............
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"It only hurts when I stop." Guess where that quote comes from. |
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“Weeds are flowers, too, once you get to know them.” ~A.A. Milne | |
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| sue | Jan 21 2009, 08:57 AM Post #13 |
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HOLY CARP!!!
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Well wasn't that a cheery way to start my day.
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| QuirtEvans | Jan 21 2009, 08:58 AM Post #14 |
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I Owe It All To John D'Oh
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This is just begging for a poll, but we need Kenny or George to start it. |
| It would be unwise to underestimate what large groups of ill-informed people acting together can achieve. -- John D'Oh, January 14, 2010. | |
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| plays88keys | Jan 21 2009, 10:28 AM Post #15 |
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Pisa-Carp
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Plays' definition of retirement: Half the income, twice the husband, triple the housework.
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| You can never get enough of what you don't need to make you happy. | |
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| JBryan | Jan 21 2009, 10:29 AM Post #16 |
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I am the grey one
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I thought he said he was retiring. |
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"Any man who would make an X rated movie should be forced to take his daughter to see it". - John Wayne There is a line we cross when we go from "I will believe it when I see it" to "I will see it when I believe it". Henry II: I marvel at you after all these years. Still like a democratic drawbridge: going down for everybody. Eleanor: At my age there's not much traffic anymore. From The Lion in Winter. | |
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| Copper | Jan 21 2009, 02:12 PM Post #17 |
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Shortstop
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I punched out at 51 (I didn't get things in order very much - like Improv did). I'm in the process of punching back in now at 54. I guess I gained a few years and maybe now I'll give them back, but I had bunch of fun. |
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The Confederate soldier was peculiar in that he was ever ready to fight, but never ready to submit to the routine duty and discipline of the camp or the march. The soldiers were determined to be soldiers after their own notions, and do their duty, for the love of it, as they thought best. Carlton McCarthy | |
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| kluurs | Jan 21 2009, 02:58 PM Post #18 |
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Fulla-Carp
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Jeffrey pointed out elsewhere that this whole study is fake... Forget that man behind the curtain..go out and work as long as you like. |
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| dolmansaxlil | Jan 21 2009, 03:06 PM Post #19 |
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HOLY CARP!!!
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According to the nifty pension statement that they send me every year, I get to retire on January 31st, 2033. It cracks me up that I get these statements with that magic date on the front cover in big bold letters. If I go out on that date, I'll be 56 and a half. Most teachers here supply teach after their retirement date (up to a maximum of 90 school days per year without taking a hit on your pension). I've always said that if I can't afford to truly retire when that date comes, I'll continue to work full time until I can rather than supply teach (I HATED supply teaching) unless I hate my job and become one of those teachers who SHOULD retire, in which case my colleagues have been instructed to tell me to get the hell out of Dodge. I'm hoping that's not the case! |
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"Your first 10,000 photographs are your worst." ~ Henri Cartier-Bresson My Flickr Photostream | |
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| Improviso | Jan 21 2009, 03:12 PM Post #20 |
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HOLY CARP!!!
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I'll be getting ready to turn 80 in 2033, or worm food. Not sure which.
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Identifying narcissists isn't difficult. Just look for the person who is constantly fishing for compliments and admiration while breaking down over even the slightest bit of criticism. We have the freedom to choose our actions, but we do not get to choose our consequences. | |
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| dolmansaxlil | Jan 21 2009, 03:22 PM Post #21 |
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HOLY CARP!!!
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I'm hoping for the former. What the heck will I do in retirement if you guys aren't around to harass??!? |
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"Your first 10,000 photographs are your worst." ~ Henri Cartier-Bresson My Flickr Photostream | |
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| Improviso | Jan 21 2009, 03:26 PM Post #22 |
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HOLY CARP!!!
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Tell all the 30 somethings how great it is to be 56.
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Identifying narcissists isn't difficult. Just look for the person who is constantly fishing for compliments and admiration while breaking down over even the slightest bit of criticism. We have the freedom to choose our actions, but we do not get to choose our consequences. | |
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| Axtremus | Jan 21 2009, 05:53 PM Post #23 |
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HOLY CARP!!!
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Get a life. |
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| Jeff | Jan 21 2009, 07:52 PM Post #24 |
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Senior Carp
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Actually, this is a semi-famous Dilbert-style spoof. A cubicle dweller hoax, if you will. People just like the conclusion!! http://allwickedlife.blogspot.com/2007/09/net-report-th...etirement-leads.html THURSDAY, SEPTEMBER 27, 2007 Net report that early retirement leads to longer life is a hoax 26 Sep 2007, New Paper Don't let fake study go to your HEAD By Leong Ching THE 'study' sounds logical and is seductive - quit earlier, live longer. Reason: Less stress. A complex title and a string of academic qualifications after the authors' name seemed to add credibility. But Optimum Strategies for Creativity and Longevity by Sing Lin, who has a PhD, is a hoax that has lasted long and travelled well. It emerged again on Sunday, forcing no less than Prime Minister Lee Hsien Loong to expose the hoax in his dialogue with 500 grassroots leaders. The 'study' was cited by a member of the audience to question the wisdom of delaying retirement. The 'study', which claims to have been conducted on Boeing employees, is illustrated with a chart showing that people who retired at the age of 50 had an average life span of 86. People who retire at 65 lived only till 66. 'An important conclusion from this study is that for every year one works beyond age 55, one loses two years of life span on average,' it said. At the dialogue, PM Lee was quick to debunk the myth. 'I can tell you for sure that it is not true... there is no such study. It's a hoax.' Ms Cham Hui Fong, NTUC's director of industrial relations, read it with amusement. 'It was a practical joke which has been circulating for many years! Somehow, many tend to believe that if you retire and relax, you will live longer. 'It does not and cannot mean that if one does not work at all, he will live forever.' Ms Cham has been in the labour movement for 16 years and is not easily taken in by such surveys. She was nominated to be an MP by the union movement and is known for her fiery speeches as an NMP. CONVINCING LOGIC But, for the ordinary man, there is a beguiling logic to the arguments of the fake study. It said: 'If you are not able to get out of the pressure cooker or the high-speed battleground at the age of 55, and 'have' to keep on working hard until the age of 65 or older, then you probably will die within 18 months of retirement. 'By working very hard in the pressure cooker for 10 more years beyond the age of 55, you give up at least 20 years of your life span on average.' Stress has been blamed for a wide range of health problems - from ulcers to cancers. Instinctively, people feel that they will lead a 'better life' if they did not have to wake up to a high-stress job every morning. That dream scenario would have been a life like Mr Gerard Ee's when he retired young - at 56. But that retirement lasted two weeks. He returned to 'work' - but without a salary. The former accountant from Ernst & Young was appointed the chairman of the National Kidney Foundation (NKF) at its lowest point when its former CEO TT Durai stepped down in July 2005. Today, he still oversees the now-thriving NKF and also chairs The Third Age, an organisation for seniors. 'My retirement from E&Y was purely contractual,' he said. 'After 30 years as a practising accountant, it was time to move on and do other things. Thus, retirement is not 'stopping' and certainly not ceasing to 'live' to one's fullest.' But not many people have the luxury of stepping out of the corporate life like him. Would workers have a better life if they took a job with less stress, with a smaller title and smaller pay? Mr Ee said: 'This is a major issue and will remain one until people adopt the paradigms of the 21st century. It is not the title but rather what is it that you have - a competitive advantage - over others.' You are paid according to the value you produce. Mr Ee pointed out: 'A brilliant 70-year-old who can produce millions in profit in equity trade will be paid accordingly and be in great demand by the fund managers. 'A 40-year-old engineer who has not kept up to date with the latest processes will be paid yesterday's wages and be easily replaced by the younger engineer who is more up to date.' The accountant in him said: 'It is a simple formula - no one gets paid for nothing. Thus, first determine how much money you want or need - then there is a price to pay.' The price, he said, could be in different ways - less time with the family, more stress at work, and for the unfortunate few, poorer physical health. Perhaps the best thing the 'Boeing hoax' can teach us is that while the facts are wrong, the principle of work-life balance is an important one. Ms Cham said: '(This applies) not just to older workers but everyone. The older ones will probably appreciate a better balance after spending so much time at work. 'But to retire totally can be trying for some who prefer to phase in gradual retirement.' |
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| Improviso | Jan 21 2009, 08:08 PM Post #25 |
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HOLY CARP!!!
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Identifying narcissists isn't difficult. Just look for the person who is constantly fishing for compliments and admiration while breaking down over even the slightest bit of criticism. We have the freedom to choose our actions, but we do not get to choose our consequences. | |
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11:07 PM Jul 12