Fragile dreams

Full story: The Indianapolis Star

Donna Ashby has an idyllic vision of retirement: chucking work at an early age, with the money to travel, pursue hobbies and enjoy an active life with family and friends.
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1 - 20 of 144 Comments Last updated Jul 9, 2007
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da in ny

Syracuse, NY

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#1
Jul 7, 2007
 
"15 percent of those 55 and older and 47 percent of those younger than 35 saying they have not started saving." What kind of statistics are these??? You can always work the numbers to prove a point. I didn't save anything until I was 35 and now at 40 I have 500k+.

All this aside, all those saving will have it blown away with one major medical incident or will likely be paying more in taxes to pay for those uninsured given the direction towards communitized healthcare.
Tax them

Indianapolis, IN

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#2
Jul 8, 2007
 
[QUOTE who="I didn't save anything until I was 35 and now at 40 I have 500k+.
[/QUOTE]

Ha.. what did you do, hit the lottery?

not very realistic unless you find a windfall.
Greg Bartlet

Louisville, KY

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#3
Jul 8, 2007
 
That's why it's a good idea to plan to move abroad after retirement. Countries like Canada, UK, and others have a NHS (National Health System).
da in ny wrote:
"15 percent of those 55 and older and 47 percent of those younger than 35 saying they have not started saving." What kind of statistics are these??? You can always work the numbers to prove a point. I didn't save anything until I was 35 and now at 40 I have 500k+.
All this aside, all those saving will have it blown away with one major medical incident or will likely be paying more in taxes to pay for those uninsured given the direction towards communitized healthcare.
Generation X

Warsaw, IN

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#4
Jul 8, 2007
 
Yeah, this is going to get interesting in the next few years. The Baby Boomers, the most self-righteous, self-indulgent, self-important generation ever, has been living for decades feeling they were "entitled" to SUVs, grande lattes, and 4-bedroom houses in the 'burbs. They going to be shocked when the cold slap of reality proves they are unprepared, their houses are losing value (due to the housing bubble and higher property taxes), and younger generations remember working with those jerks in the workplace.
TheTroll

Lebanon, IN

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#5
Jul 8, 2007
 
Hey, if they do want to retire thats up to them. Walmart needs greeters and checkout workers.
OldFart

Lebanon, IN

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#6
Jul 8, 2007
 
Generation X wrote:
Yeah, this is going to get interesting in the next few years. The Baby Boomers, the most self-righteous, self-indulgent, self-important generation ever, has been living for decades feeling they were "entitled" to SUVs, grande lattes, and 4-bedroom houses in the 'burbs. They going to be shocked when the cold slap of reality proves they are unprepared, their houses are losing value (due to the housing bubble and higher property taxes), and younger generations remember working with those jerks in the workplace.
Ha ha, the jokes on you sonny boy! Your going to need a couple of jobs to support the taxes we will levy on you to support us old farts.
I am not always serious

AOL

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#7
Jul 8, 2007
 
TheTroll wrote:
Hey, if they do want to retire thats up to them. Walmart needs greeters and checkout workers.
Yes, we "old farts", can greet you at the WM Door or smile when we cash your Mcdonald's Payroll Check for you at the check out.
jimbo

Memphis, IN

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#9
Jul 8, 2007
 
Retirement is complicated. The best first step is to obtain the services of professionals who can help you plan. Then work on improving your health and eliminating debt.(hey, we really suck at all these don't we?)
Face it, like a lot of other things in this state most people don't have a clue.
TheTroll

Lebanon, IN

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#10
Jul 8, 2007
 
I am not always serious wrote:
<quoted text>
Yes, we "old farts", can greet you at the WM Door or smile when we cash your Mcdonald's Payroll Check for you at the check out.
Hey, at least at McDonalds I won't starve. I luvs them fries.
Earth

Lebanon, IN

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#11
Jul 8, 2007
 
"Donna Ashby has an idyllic vision of retirement: chucking work at an early age"?? Earth to Donna, your a custodian not a CEO. You will retire when you drop over.
a christian heart

United States

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#12
Jul 8, 2007
 
You people are so unsympathetic with everyone else in this column. Don't you know that the way you judge others will be used to judge yourselves???

Call upon El Shaddai, Jehovah Almighty, to help you understand what He wants you to do in His earth for Him, and not what you want to do for yourselves.

Peace.
John

Chachoengsao, Thailand

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#13
Jul 8, 2007
 
I retired early and moved overseas, at age 55. No property tax, no state tax, and just about everything costs less. My money goes twice as far, at least.
I think many Baby Boomers will eventually see the light and move somewhere affordable.
If not? Well, that's their problem. Maybe they'll wise up, maybe not.
Earth

Lebanon, IN

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#14
Jul 8, 2007
 
a christian heart wrote:
You people are so unsympathetic with everyone else in this column. Don't you know that the way you judge others will be used to judge yourselves???
Call upon El Shaddai, Jehovah Almighty, to help you understand what He wants you to do in His earth for Him, and not what you want to do for yourselves.
Peace.
I am not unsympathetic. I am a "little" person too. I am just glad that I have a job that I can retire from someday. Many people are just glad to have a job nowdays. I am realistic and I know that most people to not retire early. With retirement being 65 years, even with modern medecine, it seems like you have a good chance of dying first.
Doug

Ingalls, IN

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#15
Jul 8, 2007
 
Add "peak oil" into the mix and we have an economic catastrophe waiting to happen. Experts predict 2012 will be the year of mass oil shortages.
cps

United States

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#16
Jul 8, 2007
 
Generation X wrote:
They going to be shocked when the cold slap of reality proves they are unprepared, their houses are losing value (due to the housing bubble and higher property taxes).
Not true. Houses generally have gained value much faster than stocks, bonds or most other investments over the past 15 years. The housing bubble is a short-term phenomenon in certain limited markets and certain geographic areas.
king of the high living

United States

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#17
Jul 8, 2007
 
Years of charging trips to Disney World, SUV's, fast food daily, incredible increases in everything from braces to cars to houses to college to health care in general...a dentist appointment costs $140? New eyeglasses cost $500?....
And nothing saved---have you checked into the cost of nursing homes?

Moving to another nation-yeah-that is real smart-see how well they take care of their 80 somethings---can anyone say "Mandatory Euthanasia?"

Soylent Green is closer than people think!

"Life is 100% fatal"
cps

United States

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#18
Jul 8, 2007
 
John wrote:
I retired early and moved overseas, at age 55. No property tax, no state tax, and just about everything costs less. My money goes twice as far, at least.
I think many Baby Boomers will eventually see the light and move somewhere affordable.
If not? Well, that's their problem. Maybe they'll wise up, maybe not.
More and more Americans are moving to other countries for their retirement. For example, American retirees are buying retirement homes in Costa Rica, which offers more affordable homes, lower taxes, better health care benefits, and lower cost of living in terms of food and other consumables. Smart people in the U.S. can take advantage of these opportunities when they retire. But only if they start saving at least 5% of their wages beginning from the age of 30-40. Just talk to a financial planner now. Start saving now. Eliminate your credit card debt now. Keep your monthly expenses to a minimum and scrutinize the expenses you incur. Managing your money is a lifelong discipline, folks. Those who work at it will have much better options when they retire.
Michael

Royal Oak, MI

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#19
Jul 8, 2007
 
Retirement....If all we do is spend now we are doomed to starve later. Every supervisor should consider it as one of their primary duties to guide younger staff to begin saving for retirement. Learn to take advantage of tax deferment and compounding. Begin with a small amount and whenever your pay is increased you should give your retirement savings an increase as well.

Since: Dec 06

Indianapolis

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#20
Jul 8, 2007
 
I am not always serious wrote:
<quoted text>
Yes, we "old farts", can greet you at the WM Door or smile when we cash your Mcdonald's Payroll Check for you at the check out.
IF you want the truth of the matter sonny, Those who are retire and working part-time(Mcdonald's) are making more money then you are now if you are working a reg. job.
BaBoomer

Indianapolis, IN

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#21
Jul 8, 2007
 
Generation X wrote:
Yeah, this is going to get interesting in the next few years. The Baby Boomers, the most self-righteous, self-indulgent, self-important generation ever, has been living for decades feeling they were "entitled" to SUVs, grande lattes, and 4-bedroom houses in the 'burbs. They going to be shocked when the cold slap of reality proves they are unprepared, their houses are losing value (due to the housing bubble and higher property taxes), and younger generations remember working with those jerks in the workplace.
Gen X, it's obvious that you haven't lived long enough to make the assumption that Boomers are the "entitled" generation. If you think that hard work makes one feel like they can buy a home and a car then so be it. If you don't like the Boomers in your workplace, do what your generation does best, move from job to job until you find one you can stick with for longer than two months. What you perceive as entitlement is simply a group that has moved beyond the hang-ups of youth and through hard work and maturity know what they want from life. Younger generations lack direction in life because they are a self-absorbed, lazy bunch, many of whom cannot survive without living off of their parents. Because they themselves are underachievers, they resent anyone older who works hard has has a few material possessions. You'll understand what I mean when you grow up, Grasshopper.

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