alfreda89 | FRONTLINE: Can You Afford To Retire?

"The question is, why do people end with such small amounts? Why do people make such bad decisions? Let me assure you, it's not [just] them. ... I have made virtually every mistake that I look out there and see other people doing. We live busy, complicated lives. Saving for retirement is a really hard thing to do. You have to look way ahead. You have to put other demands aside. You have to resist temptation when you have the chance to get this nice pile of cash that would really solve all your problems. We're all just pressed, and so we don't make smart retirement decisions. ..."

--- Alicia Munnell, Director, Boston College Center for Retirement Research

"What you need to set aside for retirement"

http://www.pbs.org/wgbh/pages/frontline/retirement/world/need.html

You can start here: http://www.pbs.org/wgbh/pages/frontline/retirement/

Let's get cracking, people. Don't end up saving 30% like I'm having to do now -- and I invested in my 20's, just had some hard times. The guy next door is cutting down a massive limb from a hackberry one branch at a time, because he can't afford to pay a tree guy until next month.

And he has military pensions and SS.

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We will never be able to retire. Never was a chance that we would be able to. If I ever have any (more serious) health problems, I will die of them, because there will be no money even for insurance, let along medical care.

I know that fear -- I've been spending over 10k a year on medical, even before I knew what was wrong. Chronic illness means I may need meds the rest of my life. I try not to think about that -- must get well first -- but it's 90% I will give up being an LMT and web wrangler and train for another career.

If things go well, I should have a bit of inheritance to help. But as you say -- if something goes wrong for them, there won't be any inheritance.

These stories make me mutter to myself. On one hand, there are the advisors who say that people are being told to save too much money, and that you won't need as much as you think. Then there are the advisors who tell you that you should leave your 401(k) alone until age 70 1/2, when you need to start taking distributions. What are you supposed to live on in the meantime? Why, your other savings, of course.

Now, I do know some folks who are able to save to that degree, but they're usually DINKs or singles with very high paying jobs.

I think I will work until I die. I will have my retirement account as supplemental income, but will work at something to earn money and keep my brain working.

I think I will work until I die. I will have my retirement account as supplemental income, but will work at something to earn money and keep my brain working.

I'm thinking the same thing. Of course I hope I can keep bringing in income from writing, but first, gotta heal part of me that does the writing.

I plan for retirement this way -- people in my family tend to die late in life, sometimes still in good health, sometimes not so good. I am aiming for a mil in the bank, because I might live until I'm 100. But I have a ways to go, so I try to think about health and retraining -- it gets me further in the process.

But of course, getting well and education will cost money. . ...

Not me. I'm retiring, early if possible. I want to be like my parents, traveling and keeping busy with kids. Not my kids, mind you. I'm going to bother other people's kids.

Muauahauhuahauha!

Of course I consider being a part-time professor in Accounting (summers off!) as "retirement." Or opening a bed-and-breakfast as retiring (pretty much whenever I want off! Plus I'd get to cook a lot for other people!).

The goal for both of these would not be to make money, but rather sustain my money for my month long trips to Europe or the Moon, since that may be possible in another 30 years (ha!).

The goal for both of these would not be to make money, but rather sustain my money for my month long trips to Europe or the Moon, since that may be possible in another 30 years (ha!).

No fuel shortage in your future! Seriously, going for longer makes a lot of sense. I wonder if I could swap Critz work for food, etc. while traveling.

I would love to retire early. But I got sick and stopped investing for too many years, plus was hit by divorce (split nut) Dot.com crash and 9/11. So, I'm close on the small scale, far away on the "really covered" scale.

Is that all? I was aiming for $1M.

Is that all? I was aiming for $1M.

So am I -- and I haven't changed my mind. One grandmother died around 96 and in poor health -- I want to enjoy my golden years, not sweat bullets about them.

I'd rather retrain now and work another 20 years, than be continually downsizing from 60-90... It's one reason W works so hard and won't take vacations to England and such -- he doesn't have as much as he thinks he should have. His F-I-L paid to keep his second wife comfortable in a nursing home, and that took most of his savings.

An in-your-face warning....

FRONTLINE: Can You Afford To Retire?

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Ah -- sympathies

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