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Retirement Discussions / Retire Well on Less
|Subject: Re: Retirement in danger||Date: 10/23/2008 10:07 PM|
|Author: telegraph||Number: 1294 of 1766|
YOu've got to be saving on your own these days, and need to be planning on working longer - since folks live longer.
Too many today consume at too high a level. If you can't save, then you are living 'too high'.
50 years ago, folks lived in 900-1000 sq foot houses. Maybe a 1 car garage, or more likely, a carport. Small yard. One car in family.
That was the norm. Then it slowly grew....now 1700 sq feet is a 'very small home'.....and around here, starter homes start at 2500 sq feet, and everyone wants 4-5 bedrooms 4 bath two story homes with triple garage.
Now, it is cellphones for everyone, premium cable TV packages, TV sets in every room, 3 or 4 cars in the family......
Folks are trained consumers. FOlks spend less on food than before. FOlks spend less on a car than before. But folks spend a lot more on 'things' that never were necessities 50 years ago.
SO, like the article says, boomers are likely going to re-adjust.
Most pensions don't go completely bust - the Pension Guarantee Board pays out something - up to about $56K/yr.
Health care disappears. Obamacare , if he can find the money, will just make it the rationed gigantic HMO screwed up federal system.....
Boomers who aren't set will work to 70, or retire to a mobile home park in FL and live on 30,000 a year income,most of it SS.....and a bit of savings...like half of FL do today..or move to AZ.....same thing....
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