The Retirement Gamble

[Amygdala]

Has anyone seen this? With the rate of inflation today, we see how much more real the kingdom solution is…

 

 

[Tortuga]

It's also interesting that as the interest rate rises, lump sum pension payment estimates will decrease. If anyone plans to retire and take the pension lump sum payment instead of the annuity, they will get less money. Corporations will typically use the minimum present valve estimates provided by the government to establish the estimates for the lump sum payments for the next year, so when the corporation posts that information, many individuals that plan to retire with a lump sum payment will realize that they will receive a smaller lump sum payment if they wait to retire. With an aging work force and the opportunities to invest the lump sum in a depressed market, there may be an increase in retirees later this year.

Edited July 28, 2022 by Tortuga

[Tortuga]

1 hour ago, Woanders said:

Has anyone seen this? With the rate of inflation today, we see how much more real the kingdom solution is…

Thank you for posting this. I found an article about the show that gives a summary of it.

 The Retirement Gamble (forbes.com)

[coolbrz731]

I'm young enough to say, "Retirement?  What retirement?".  I'm not saying this because the new world will be here before then.  I'm saying this because if this world continued that long(more than likely won't, but I'm planning for "just in case"), I'll still have to work till I'm in my 70's.  This world is going from bad to worse, and that include retirement conditions.  The article is 8 years old, and it's more relevant now than back then.

 

Quote

Consider downsizing by moving to a less expensive part of the another country if you are at risk of outliving your assets. 

 

Did Forbes just tell me I need to be a need greater when I retire?  😁

Edited July 28, 2022 by coolbrz731

[Tortuga]

If anyone is planning for retirement, many years ago i was given a copy of this and followed it. It worked out well for me. However in 2013 I did contract with a fee based financial advisor and I'm glad I did.

 

 

Edited July 28, 2022 by Tortuga

[Tortuga]

17 minutes ago, coolbrz731 said:

Did Forbes just tell me I need to be a need greater when I retire?  😁

The best financial and retirement advice that I ever received was from the Bible. Live a simple life and be content with what I had. 

[coolbrz731]

57 minutes ago, Tortuga said:

The best financial and retirement advice that I ever received was from the Bible. Live a simple life and be content with what I had. 

But, isn't that impossible in California, where simple is sooo expensive???  😜

[Tortuga]

6 hours ago, coolbrz731 said:

But, isn't that impossible in California, where simple is sooo expensive???  😜

Oh sure, the older mansions are cheap. 

[Esined]

On 7/28/2022 at 11:54 AM, Tortuga said:

If anyone is planning for retirement, many years ago i was given a copy of this and followed it. It worked out well for me. However in 2013 I did contract with a fee based financial advisor and I'm glad I did.

 

 

Thank you for this—I am just now seriously thinking about planning for retirement and I’m a little overwhelmed.

[dove]

On 7/28/2022 at 11:52 AM, coolbrz731 said:

 

 

 

Did Forbes just tell me I need to be a need greater when I retire?  😁

Maybe not a need greater, mostly a greater needer..🙂

Edited April 16, 2023 by Dove