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Not just manual work, the brain slows down as well. A 65 year old is not going to hang with a 35 year old mentally in an office job.
This is largely a myth, the brain does not decline like the rest of your body. The reason elderly often have noticeably reduced mental abilities is due to lack of use (e.g., retirement ), the brain has a "use it or loss it" policy.
" Studies that look at only the healthiest elderly tend to find minimal cognitive decline even into the ninth decade"
"Second, age does not affect all domains of cognition equally. For some functions, such as speed of visual-motor processing, slight decline often can be detected as people enter their 40s and 50s. However, for most cognitive abilities, no measurable decline is evident until age 65 or older. For example, the average expected number of words recalled from a 15-word list after a 30-minute delay is approximately 10 for people aged 55-65, nine for those aged 66- 70, and eight for those up to age 85. These changes, while noticeable, are not disabling. Furthermore, some aspects of cognition, such as one's general fund of information, can actually continue to improve throughout one's lifetime."
So is this thread about you not wanting to save in retirement because you think you can invest in better things, or is this about you not saving because you dont think you will need it? (Just to clarify)
The thread is about challenging the traditional notion of retirement.
For me personally, both are applicable. I have no interest in retirement, I find the idea pretty depressing, and I find it far more fruitful to apply my money towards business than let it decay in a retirement account**
**At some point I may be able to both put the money into a tax sheltered retirement account and utilize it for business, but that is not the case at the moment.
You are defining retirement as "quitting" as most of america also does. People hate work so their goal is to quit and do nothing. I agree with you that that sounds depressing, but i disagree with you on the definition. i believe retirement is having the financial freedom to do whatever you want. You want to keep working, and so do i, but i want to retire so that i can stop working for other people and start working on things that i want to do.
You are defining retirement as "quitting" as most of america also does. People hate work so their goal is to quit and do nothing.
No, rather I'm using the word exactly how its used in the English language. "Retirement" does not mean "having the financial freedom to do whatever you want", you are thinking of being wealthy.
Quote:
Originally Posted by maschuette
You want to keep working, and so do i, but i want to retire so that i can stop working for other people and start working on things that i want to do.
I don't get it. You want to work while you are young for other people, but when you get older and "retire" you want to then work for yourself and do what you want? Why not, you know, do that today?
Anyhow, I already stopped working for other people and started working on things that I wanted to do, so depending on how you want to interpret it I'll either never retire or I'm already retired. If the latter, I certainly retired early!
No, rather I'm using the word exactly how its used in the English language. "Retirement" does not mean "having the financial freedom to do whatever you want", you are thinking of being wealthy.
I don't get it. You want to work while you are young for other people, but when you get older and "retire" you want to then work for yourself and do what you want? Why not, you know, do that today?
Anyhow, I already stopped working for other people and started working on things that I wanted to do, so depending on how you want to interpret it I'll either never retire or I'm already retired. If the latter, I certainly retired early!
Your right, that is what retirement means, i'm using the dave ramsey version, and he refers to retirement as i did.
I do work for myself, i am a contractor, but i'm not wealthy enough to work on my own terms yet.
Good for you, if your so well off, why dont you, ya know, quit bitching about saving for retirement.
I thought this thread was about not wanting to save and falling back on wellfare if you get hurt?
Your right, that is what retirement means, i'm using the dave ramsey version, and he refers to retirement as i did.
Okay, that's understandable, you're bound to say odd things when you repeat anything Dave Ramsey says.
Quote:
Originally Posted by maschuette
Good for you, if your so well off, why dont you, ya know, quit bitching about saving for retirement.
The purpose of the thread is not to complain about retirement, but rather discuss the notions applicability to modern society.
Quote:
Originally Posted by maschuette
I thought this thread was about not wanting to save and falling back on wellfare if you get hurt?
I have stated repeatedly that I'm not talking about savings in general but rather retirement savings. I don't recall mentioning welfare, well not unless you consider receiving disability, an insurance program I pay into, being on welfare. Are all insurance pay-outs welfare or is it just when someone gets hurt that they are welfare?
Regardless, the purpose of mentioning disability and social security is that these are both programs that are available in the US and depending on them represents the "worst case scenario", not, contrary to what is being suggested here, being homeless or relying on "welfare". For those with no sense of history, this is one reason why these programs were developed as part of the New Deal. Ya know, so you good olde middle-class folks wouldn't have to "bail out" 'em poor folks.
User ID, every one has differing dreams of what they will do when they get to retirement age, some will like their jobs so much they'll never retire, others may just slow down a bit and maybe just work 3 days a week,others go for the full retirement and enjoy whatever it is they do in retirement.
Personally i did quite well in life and have chosen the full retirement option,
Money is such that i have many big boy toys and come winter i can spend several months a year down in Florida.Retirement for me is great,never a dull moment, just couldnt imagine working for my entire life when in todays society the means exist whereby you can move over and make room for some one else once you get into your later years.(60ish)
If when you are young you have the notion that you will never retire then you've somewhat sealed your fate to that course of action if you havent set up the financial means to retire on the remote chance that once you get to retirement age you may not think the same way about it as when you were much younger.
No, rather I'm using the word exactly how its used in the English language. "Retirement" does not mean "having the financial freedom to do whatever you want", you are thinking of being wealthy.
I don't get it. You want to work while you are young for other people, but when you get older and "retire" you want to then work for yourself and do what you want? Why not, you know, do that today?
Anyhow, I already stopped working for other people and started working on things that I wanted to do, so depending on how you want to interpret it I'll either never retire or I'm already retired. If the latter, I certainly retired early!
For most people it is just too risky to try to start their own business / work for themselves. They will have a nice cushy job and steady income. Most businesses fail, and most people think it is pretty hard to feed their families, send their kids to college, and enjoy life when struggling with a failing business. It is all about risk-- and for the general public who have hardly anything saved-- it is too risky early in their lives to try to start their own business.
Like I've said countless times in this thread-- saving for retirement is about mitigating risk and providing support for you and your spouse in your old age.
For most people it is just too risky to try to start their own business / work for themselves. They will have a nice cushy job and steady income.
Bingo. To each their own I've got much respect for those who start their own business but it isn't for everyone.
I've always found it easy to find and keep relatively well paying jobs, and I like knowing the time I spend goofing off is impacting someone else's bottom line not mine.
Anyhow, in what way are the middle-class paying for "deadbeats" who didn't save for retirement? The "deadbeats" will receive social security, a program they've been paying into since they've been working.
To a slight degree, higher wage earners are subsidizing lower wage earners in Social Security because the formulas which determine the retirement benefits allot a larger percentage of average adjusted life-time monthly income to the latter as opposed to the former. I'm not arguing this is wrong, just laying out this fact.
In addition, Medicaid (a state-by-state enhancement of Medicare benefits for which low-income people are eligible) is paid for out of general tax revenues. Even Medicare itself is supported by general tax revenue as follows: Medicare Part A (hospitalization insurance) is paid for by payroll tax deduction, but not Part B (other medical costs, i.e., doctor visits). Part B is funded mostly through general tax revenues, and partly (25%) through the premiums which enrollees pay.
And in addition to all the above, there are various welfare programs which support people living on Social Security alone, such as lower utility rates. The average Soc. Sec. retirement benefit is somewhere around $1100 a month, so one would have to be extremely frugal to live with a modicum of dignity on that amount, hence all these programs. I am not arguing either for or against all these subsidies, just pointing out that they exist.
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), the brain has a "use it or loss it" policy. 
Mostly true but not entirely true
