sam light Posted May 23, 2010 Posted May 23, 2010 I know nobody knows, you could die at 25 or 30 But the norm is for most of us to grow old, then die. I'm 50 and have a good financial picture of of what I can afford in my last years. I can sell my home, access my IRA etc, and then either move to a secluded cabin or stay in town in senior housing. Both ideas have pros/cons. How is it looking for you? If your under 35 it's probably too early to have a good grasp. Thats just the financial picture. What about your personal situation? Will you live alone, with a spouse, with grown children, in a facility? Would health issues cause you want a shorter life? I'm trying to decide if I want a quiet, somewhat isolated life in the woods. Or stay fully connected by living in town. In town means dealing with noise, too close neighbors, etc. But it also means contact with my few close friends, and medical care if needed. I'm no stranger to the stress free isolated life either. Anyhow, How do you think your last years will go? (financially and personal)
OpenBook Posted May 23, 2010 Posted May 23, 2010 I'll be living in town... hopefully near my children/grandchildren, and hopefully in a cheap apartment (never again will I invest in real estate!!). And I will still be working. I'll probably drop dead at the office. I hope they won't mind old windbags hanging around by the time I'm 80. If I make it that far.
Crow9726 Posted May 23, 2010 Posted May 23, 2010 The economic downturn utterly destroyed any chance I have to retire comfortably...and I'm 52 now. There is no way for me to get back what was lost and my earnings have dropped by almost half as well...though my bills haven't gone down any. I am not in a relationship...28 year marriage ended a few years back (she had an affair) and my one relationship since then ended almost 2 years ago. There are no romantic prospects in my immediate future since I am almost forced to stay home when not at work...once again the financial burden making me take on the lifestyle of a hermit. The industry I'm in does not have retirement or pension programs available...and my private investments got wiped out. I lost a house as a result and now rent...my credit is probably shot...and my cars are begging for attention. I guess I'm destined to live out the rest of my life alone and lonely...not to mention broke. My grown kids (neither married and no grandchildren as of yet) live 700 miles away. I have no nieces or nephews...an older brother and sister...neither of whom are married right now and both live far away...one uncle on his death bed and some cousins I have not seen in 15 years or so. I'm just waiting for my heart to lock up again...or suffer a stroke at my desk. It may be preferable since social security is going to be nothing but history...a myth...by the time I qualify for it. Wow...it sounds so much worse when I type it out. Oh well...at least my dogs and my cat tolerate me. Now if only they would bark or meow out the winning lottery numbers...
Author sam light Posted May 24, 2010 Author Posted May 24, 2010 I'll be living in town... hopefully near my children/grandchildren, and hopefully in a cheap apartment (never again will I invest in real estate!!). And I will still be working. I'll probably drop dead at the office. I hope they won't mind old windbags hanging around by the time I'm 80. If I make it that far. All in all, Real estate makes sense over the LONG haul. But it's possible to jump in and out at the wrong times and lose money. Some people work in old age even if they don't need to, but it seems you do need to.
Author sam light Posted May 24, 2010 Author Posted May 24, 2010 The economic downturn utterly destroyed any chance I have to retire comfortably...and I'm 52 now. There is no way for me to get back what was lost and my earnings have dropped by almost half as well...though my bills haven't gone down any. I am not in a relationship...28 year marriage ended a few years back (she had an affair) and my one relationship since then ended almost 2 years ago. There are no romantic prospects in my immediate future since I am almost forced to stay home when not at work...once again the financial burden making me take on the lifestyle of a hermit. The industry I'm in does not have retirement or pension programs available...and my private investments got wiped out. I lost a house as a result and now rent...my credit is probably shot...and my cars are begging for attention. I guess I'm destined to live out the rest of my life alone and lonely...not to mention broke. My grown kids (neither married and no grandchildren as of yet) live 700 miles away. I have no nieces or nephews...an older brother and sister...neither of whom are married right now and both live far away...one uncle on his death bed and some cousins I have not seen in 15 years or so. I'm just waiting for my heart to lock up again...or suffer a stroke at my desk. It may be preferable since social security is going to be nothing but history...a myth...by the time I qualify for it. Wow...it sounds so much worse when I type it out. Oh well...at least my dogs and my cat tolerate me. Now if only they would bark or meow out the winning lottery numbers... While not near as lucky as those before us, we hopefully will be more lucky than those after us. They will be taxed to death to pay for boomer Soc Sec and obama's health care. We will be taxed for it for less time. (time we have left) You're another one with a rough time, I hope your remaining career time is better to you.
txsilkysmoothe Posted May 24, 2010 Posted May 24, 2010 I expect to live to the age of 90 - 100. So I have 45 to 55 years left. Most importantly is how I will personally spend those years. I would really like to marry in the next 2 to 7 years. I want it to be the real deal that will last the rest of my life or his. I presently feel discouraged that I will cross paths with a like minded man. I'd like to have a very active sex life for at least the next 15 to 25 years. Professionally, I'll have to work to age 65 or later. It's depressing to speculate about that. I believe I have a bestseller I could write, I'm just not sure I want to go down that road. It would provide a great retirement though. Physically, I intend to get better as I get older. I want to be healthy and active as long as possible. I would like to have the option of living in both the city and country, moving between the two as often as I like. I prefer to die in my sleep. I do not want to endure a long term illness. I don't want my children to have to care for me and I certainly don't want to live my final days in a facility.
Engadget Posted May 24, 2010 Posted May 24, 2010 I'm hoping to die early, between 50-60. People that are so old they eat disgusting slop for food, go to early bird specials, drive 15 on a 45 MPH street, just make me depressed.
Crusoe Posted May 24, 2010 Posted May 24, 2010 Since my ex left I have been slogging my guts out trying to get enough money to get some surgery on my knee and finance a crack at the seniors tour. Cleared the mortgage when I was 30 and two years ago thought I was in a good position to do it. This economic downturn has thrown a spanner in the works, I can still attempt the tour but if I fail there will be nothing left and the future will be bleak. If I don't attempt the tour I am sitting pretty and will probably retire off to a warmer country when 50 and teach the game. Which ever path I take, I woud rather burn out than fade away. The lifestlye I have led and the lifestyle I continue to lead, I doubt I will see the very late years. Balls out and thousand mailes an hour, I ain't gonna change.
OpenBook Posted May 24, 2010 Posted May 24, 2010 All in all, Real estate makes sense over the LONG haul. But it's possible to jump in and out at the wrong times and lose money. I disagree. It's expensive to maintain and it's not worth the aggravation. Some people work in old age even if they don't need to, but it seems you do need to. I have no idea whether I'll need to or not. (The future is always in motion!) I just cannot imagine not working, because I love what I do. If I didn't love it, of course, it would be a different story.
marlena Posted May 24, 2010 Posted May 24, 2010 Interesting thread. It's true that the financial melt down has changed the picture we all had in our minds about retirement. I was hoping to retire soon but I don't see that happening any more. Somebody took off with my money. Anyway, I want to be healthy and in an upright position. If I'm not, better that I pack my bags and get on that boat crossing the Styx River. Hope I have enough money for the ferryman. If by chance I do make it to a ripe old age, I see myself moving between Spain, my city home here and my mountain cabin. I won't have a lot of money unless I liquidate all my assets but no one is buying right now nor is it likely things will change any time soon. I would like to travel more but I don't know what shape I will be in. One thing I know is that I do not want to wind up in a rest home or whatever they are called. There's plenty of time for me to rest when I'm dead. Anyway, it's futile to make plans. Life just comes along and disrupts them all.
Crusoe Posted May 24, 2010 Posted May 24, 2010 Anyway, it's futile to make plans. Life just comes along and disrupts them all. Yes, life comes along and disrupts them and very few of us end where we thought we would be, but I still think it is good to make plans, whether you acheive thm or not, you always have that bunny to chase.
LucreziaBorgia Posted May 24, 2010 Posted May 24, 2010 I'm going to live in a comfy house in a small town with my future husband, and when we retire live off the nest egg. I can't speak for him, but when it reaches the point where I stop being able to care for myself, or I am terminally ill and have nothing to look forward to but deterioration and pain, I will give myself a quiet and dignified self administered death.
Eve Posted May 24, 2010 Posted May 24, 2010 Dont know what the future holds but I wouldnt mind renting out the family home and live full time on a boat for a year once my youngest goes to Nursing School in a couple of years. I think it would be quite different. I just hope whatever happens health stays on our side. Take care, Eve xx
Gold Pile Posted May 25, 2010 Posted May 25, 2010 I disagree. It's expensive to maintain and it's not worth the aggravation. My last house was built in the 1950's. I don't know what the initial price was, but it sold for $20,000 in the mid 1960's, sold for $42,500 in 1974, sold for $130,000 in 1987, sold for 180,000 in 2006. It would sell for $150,000 now. It's value was down during the 1990's, and down now. But it is up...way up in the longer term. Bottom line I'm nearly mortgage free and it's been a small monthly payment for many years. Smaller than rents(even including maint and taxes.) If you try to time the market you could have made a killing or lose your shirt. I diversify....Owning a home, pre and post tax retirement savings, stocks, Sometimes stock was a better performer, sometimes real estate was. Sorry for getting OT. Just like the 90's the real estate naysayers are shouting loudly now. I just wanted to say there is hope over the longer term. To stay on topic: within the next several years I plan a preview retirement. I'll spend a season living in remote Vermont to see how I like it. Then I'll decide how I want to live. At 75 I'll start spending with an idea to leave this life with little in the bank. As the end nears, I plan to gain fame for a grand, record breaking fart in a public place. Probably at a welfare office so as to make my politics clear.
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