I know a lot of older who worked hard all of their life retired had nothing to do but sit and watch tv they died within a few years of retirement some people work out of boredom
Life/Work Balance of being a Mobile DJ
- Thread starter DJ Ricky B
- Start date
This is not true - at all.
I know plenty of older people that work to keep busy and active. All people do not work because they have to. Some actually want to. Are there some that have no invested wisely? Absolutely. Is this true of all older people that are working? Absolutely not.
Additionally, some people that wisely invested lost a ton of money when the markets went in the toilet. For some people, you also have to stand in their shoes - back in the 50's, 60's and part of the 70's, it was not common for both a husband and wife to have jobs. For some people, this meant that the wife had no retirement. If he died, then yes, she may need a job today.
From another tangent - you can work hard now, play hard later .. or play hard now and work hard later. This choice is also yours to make.
Seems to me it's work hard earlier, work hard now and probably work had later.
What is an acceptable standard of living? It varies by person, but based on studies i've seen, once you achieve 'your' acceptable standard you stop and smell the roses, so to speak. Few keep working harder after they are 'comfortable' - whatever that means to you.
What is an acceptable standard of living? It varies by person, but based on studies i've seen, once you achieve 'your' acceptable standard you stop and smell the roses, so to speak. Few keep working harder after they are 'comfortable' - whatever that means to you.
I'm comfortable, but I also want to be comfortable for the 30 years I won't be working.
That's exactly why I work hard now. I have no desire to eat canned dog food in my old age.....And I don't work near as hard as I used to
Virtually everyone is broke...just at different income levels. What is the point of working your life away if you never had much time off to enjoy yourself? The notion that you will be able to do all that you want to do when you are old, likely unfit/unhealthy to do those things if you work your life away for 50 years is perhaps the biggest mockery of the Human Race.
You could contract a major illness and die a few years from now. If that happened, I bet you would have wished you had more time off in the past to do things you wanted to do, or be with loved ones.
Working Our Lives Away
That is a big assumption. You could also retire, and fall ill 3 months later. You also could be physically unable to travel when you are 80 years old. Might be a better option to do all that you want to do, and spend more time with family while you are younger and are healthy.
In that case, my wife enjoys her retirement even more ... my kids are in their late 20s .. I spend enough time with them.
I'm not really sure who you compare yourself to .. I enjoy things now, travel with my wife .. did a lot with the kids when they were younger. If you find the "right" job, it's rarely "work".
I don't know of any other living species on the planet that 'retires.'
There is nothing natural about retirement, it's just a polite way for business to call someone: "too old and expensive to continue working for us."
There is nothing natural about retirement, it's just a polite way for business to call someone: "too old and expensive to continue working for us."
Call me an Ageist, but I believe nobody above the age of 79 should be allowed to continue to work in Congress, or any part of Government. Then again, I also believe in a max of 20 years term limit in Congress.
There comes a time when it's time to stop working, and enjoy your time off.
You wouldn't catch me working 60+ hours a week. I think it's crazy, and unhealthy for people to do so.
The fact that you might not live forever shouldn't prevent people from saving for financial independence. That's really a better term than retirement. Most people I know would like the ability to choose the work they want as they please... if I'm not mistaken, that's what this very thread is about.
Ricky, you may be choosing more free time in your 30s. It's not our business here to judge you. But, I'd prefer to work more now and save so that I don't have to work forever. I save about 20% of my gross income for that very purpose. I don't do that at the expense of enjoying myself now... but I know the math (I do that math for literally hundreds of people during the day).
The math supports that you're correct. 1 in 3 Americans barely have anything at all saved to create financial independence. Either because they can't, don't know they should, or don't know how. But that isn't a fact to be celebrated. It is honestly a tragedy that is actively happening in our nation. But I'm certainly not going to actively become a part of that statistic by guessing how long I might live after I choose to retire.
You're working on the assumption that if a person works full time they have no time to enjoy life but that is very untrue.
I used to do the 60 and sometimes (more often) 80-90 hour weeks and you are right it's unhealthy mentally and physically but it's also unhealthy to be worried about your finances and if you don't put the time in while you can you will at some point have that worry.
I busted my ass for 30 years I'm super happy that at 47 I can do what I want when I want thankfully part of that is a few business ventures that I really enjoy some profitable and some not so much
SOO many unknowns...
looking around at my immediate family and friends...
neihbors retired about 2007 and had to go back to work after the 2008/9 crash. That seems to have a LOT of impact on the mindset of everyone I know who is retired.
Another is a retired teacher, wife still working. Nice pension, SS and some 401k money too. paid off house. Then their daughter decides to get married - 25k spent from retirement money. Now they're considering buying a motorhome - when she retires they can then travel. He's 54..certainly got a LOT of years left to 'spend' his retirement.
My uncle retired and in 18 months had died. And spent most of that in poor health. My aunt is now 83 and all the kids/grandkids live in ohter states. So she's been living alone in a 3br house (costs, maintenance) for 20 years now.
Both my parents didn't live to retirement. Their parents lived into their 90s. I'm healthy so figuring the 90s are for me.
Some of the retirees I know also work - for money or for something to do, for 'hobby' money perhaps - your retirement plan pays for food/housing but if you want that new harley or trip to the caymans, that's extra.
My brother in law is working FOR retirement..he'll brag about his ss, gm pension and now with a gov't job he's gonna get a pension there too. He does a few things for fun, but less than most people I know. He doesn't take all his vacation days for example.
A good friend of mine is now 65. He had 2 brothers die youngish and one have a stroke last year at 63 and have to retire. he's still working FT, stressed out, and has PT biz on the side. He's planning his activities for retirement - playing music, learning instruments, etc. But fear of not paying the bills keeps him working.
It's all a gamble in the end. Will you live to retire? Be healthy enough to do what you want? Why wait to do that thing in the first place? What will the world be like when you do retire, economically? If we hit something like the 70s inflation again you'll be in trouble.
My fear is being too feeble to work. Looking toward jobs I can do, when, um, feeble. LOL
looking around at my immediate family and friends...
neihbors retired about 2007 and had to go back to work after the 2008/9 crash. That seems to have a LOT of impact on the mindset of everyone I know who is retired.
Another is a retired teacher, wife still working. Nice pension, SS and some 401k money too. paid off house. Then their daughter decides to get married - 25k spent from retirement money. Now they're considering buying a motorhome - when she retires they can then travel. He's 54..certainly got a LOT of years left to 'spend' his retirement.
My uncle retired and in 18 months had died. And spent most of that in poor health. My aunt is now 83 and all the kids/grandkids live in ohter states. So she's been living alone in a 3br house (costs, maintenance) for 20 years now.
Both my parents didn't live to retirement. Their parents lived into their 90s. I'm healthy so figuring the 90s are for me.
Some of the retirees I know also work - for money or for something to do, for 'hobby' money perhaps - your retirement plan pays for food/housing but if you want that new harley or trip to the caymans, that's extra.
My brother in law is working FOR retirement..he'll brag about his ss, gm pension and now with a gov't job he's gonna get a pension there too. He does a few things for fun, but less than most people I know. He doesn't take all his vacation days for example.
A good friend of mine is now 65. He had 2 brothers die youngish and one have a stroke last year at 63 and have to retire. he's still working FT, stressed out, and has PT biz on the side. He's planning his activities for retirement - playing music, learning instruments, etc. But fear of not paying the bills keeps him working.
It's all a gamble in the end. Will you live to retire? Be healthy enough to do what you want? Why wait to do that thing in the first place? What will the world be like when you do retire, economically? If we hit something like the 70s inflation again you'll be in trouble.
My fear is being too feeble to work. Looking toward jobs I can do, when, um, feeble. LOL
Define work then.
Sure, you have your job. and you sleep. that's 100ish hours a week for most folks.
There are 168 hours in a week...
is cutting grass, shopping, cooking, cleaning, painting your house work? How is it different from 'work' as most folks define it? Watch folks watching the football playoff games..stress? Yeah! More than many jobs.
I know folks that stress over housework, hate going to the store, etc. So other htan not getting a paycheck, how is all the other things we do in life not the same as 'work'?
And if it is the same then what is bad about working 60, 70 hours a week?
Sure, you have your job. and you sleep. that's 100ish hours a week for most folks.
There are 168 hours in a week...
is cutting grass, shopping, cooking, cleaning, painting your house work? How is it different from 'work' as most folks define it? Watch folks watching the football playoff games..stress? Yeah! More than many jobs.
I know folks that stress over housework, hate going to the store, etc. So other htan not getting a paycheck, how is all the other things we do in life not the same as 'work'?
And if it is the same then what is bad about working 60, 70 hours a week?
It's great if you can save 20%. or 10% even.
I've had a few years where I made more than it took to live. Most of my decisions (to buy a car, etc) are based on financial repurcussions - will a new car be better or worse than an old used one? (cost is one factor)
Should I quit my club, not go out to eat and put all that money into retirement savings?
Should I tell my daughter that, no, you can't go to cheer nationals in vegas this year, and put that money in my retirement savings instead? (her cheer group has qualified for nationals 2 years in a row now).
Perhaps I should tell my son that no, i'd rather put the money in my retirement than you get a drivers license (insurance, car, fuel, etc).
My dryer is ill..it's over 20 years old. takes 2 hours to dry anything even on high..$500ish would get me a new one. I could just hang the clothes to dray and put that 500 into my retirement account.
Driving on bald tires wasn't an option. them going bald by 32k miles wasn't the plan either. oh well, $800 I gotta spend that could have gone to retirement.
For me to save for retirement would require a change, for the worse, of my lifestyle now. and for others.
And I'm not the only one in this position.
I've had a few years where I made more than it took to live. Most of my decisions (to buy a car, etc) are based on financial repurcussions - will a new car be better or worse than an old used one? (cost is one factor)
Should I quit my club, not go out to eat and put all that money into retirement savings?
Should I tell my daughter that, no, you can't go to cheer nationals in vegas this year, and put that money in my retirement savings instead? (her cheer group has qualified for nationals 2 years in a row now).
Perhaps I should tell my son that no, i'd rather put the money in my retirement than you get a drivers license (insurance, car, fuel, etc).
My dryer is ill..it's over 20 years old. takes 2 hours to dry anything even on high..$500ish would get me a new one. I could just hang the clothes to dray and put that 500 into my retirement account.
Driving on bald tires wasn't an option. them going bald by 32k miles wasn't the plan either. oh well, $800 I gotta spend that could have gone to retirement.
For me to save for retirement would require a change, for the worse, of my lifestyle now. and for others.
And I'm not the only one in this position.
You're certainly not. This is one of my favorite graphics as it relates to budgeting of all time, from Carl Richards:
